V 03.02.01Slide 1V 1.0Slide 1 FMP/Sales & Stock FMP – Sales & Stock Account Clerk School Principal 1. Set Up 2. Maintenance 3. Pre-Year End 4. Year End.

V 03.02.01 Slide 1V 1.0 Slide 1FMP/Sales & Stock

FMP – Sales & Stock

Account Clerk

SchoolPrincipal

1. Set Up2. Maintenance3. Pre-Year End4. Year End5. Enquiry6. Report

FMPCommon

Setup

Budgeting

Bookkeeping

Staff Cost

Capital Asset Register

Sales & StockOther Registers

1. Setup

V 03.02.01 Slide 2V 1.0 Slide 2Setup

Sales & Stock - Setup

• The Sales and Stock setup function provides the following basic functions for preparation of stock management.

- Maintain Category- Maintain Stock Master- Maintain Analysis Code- Maintain Costing Method- Maintain Default Unit

• Once all setup functions have been done, user can proceed to maintain Stock In Details, Stock Out Details and Write-Off for stock items registered in Purchase / Sales vouchers created in Bookkeeping and Sales and Stock Modules.

V 03.02.01 Slide 3V 1.0 Slide 3Setup

Category

School Badge

Sales & Stocks – An Example

Stock Code

Metal Badge

Analysis Code

Junior

Senior Exercise Book

Woven Badge

Knitted Badge

Maths Exercise Book

Single Line Exercise Book

Double Line Exercise Book

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Category

Sales & Stock - Category

• A stock category is used to bundle a group of stock master records with similar nature.

• Every stock code will be categorized under a category to facilitate the filtering of stock master records when performing maintenance of Stock In Details and Stock Out Details.

• If user has converted Stock Category from Stock Ledger of SAMS, please read the following data conversion rule:

- Ledger Code in SAMS with a ‘0’ inserted after the second digit is converted to Category Code in WebSAMS. For example, SAMS Ledger Code 561 is converted to WebSAMS Ledger Code 5601.

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Add CategoryAdd Category

- This function allows user to create a new stock category.

- User should create stock category before creating stock master records.

- By default, effective status of all newly created categories will be set to “Active”.

- No duplicated category code is allowed.

V 03.02.01 Slide 6V 1.0 Slide 6Add Category

Step 1. Click [Sales & Stock] [Setup] from the left menu

By default, it displays the page of Category

Step 2. Click [Add] button

Add Category

V 03.02.01 Slide 7V 1.0 Slide 7Add Category

Step 3. Fill in the fields

Step 4. Click [Save] button

Add Category

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Update CategoryUpdate Category

- This function allows user to update an existing stock category.

- User may change the description and effective status of the category.

- Updated description will appear on all the online screens and newly generated reports after the change.

- Change in effective status will be effective instantly.

V 03.02.01 Slide 9V 1.0 Slide 9Update Category

Step 1. Click [Sales & Stock] [Setup] from the left menu

By default, it displays the page of Category

Step 2. Enter the search criteria

Step 3. Click [Search] button

Update Category

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Step 4. Click [Category Code] hyperlink

Update Category

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Step 5. Update the fields

Step 6. Click [Save] button

Update Category

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Delete CategoryDelete Category

- This function allows user to delete an existing stock category.

- User is not allowed to delete category, if any stock master record has been categorized under this category.

- Instead of deleting a category, user may consider setting the effective status of the category to “Inactive” if the category is no longer in use.

V 03.02.01 Slide 13V 1.0 Slide 13Delete Category

Step 1. Click [Sales & Stock] [Setup] from the left menu.

By default, it displays the page of Category

Step 2. Enter the search criteria

Step 3. Click [Search] button

Delete Category

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Step 4. Select the checkbox(es) next to the [Category Code]

Delete Category

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Step 5. Click [Delete] button

Note:Deleting Category is not allowed, if any stock master record with this stock category exists.

Delete Category

V 03.02.01 Slide 16V 1.0 Slide 16Stock Master

Category

School Badge

Sales & Stocks – An Example

Stock Code

Metal Badge

Analysis Code

Junior

Senior Exercise Book

Woven Badge

Knitted Badge

Maths Exercise Book

Single Line Exercise Book

Double Line Exercise Book

V 03.02.01 Slide 17V 1.0 Slide 17

Stock Master

Sales & Stock - Stock Master• A stock code is a stock item or goods, which will be categorized under a stock category for stock management.

• Stock code is required to identify the purchase / sales stock item when filling in Stock In / Out Details.

• If user has converted Stock Code from Stock Item of SAMS, please read the following data conversion rule:

- Stock Item in SAMS is converted to Stock Code in WebSAMS. For example, SAMS Stock Item 001 is converted to WebSAMS Stock Code 001.

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Add Stock MasterAdd Stock Master

- This function allows user to create a new stock code.

- User should create stock category before creating stock master records.

- Every stock code will have a base unit. Depending on the value user set in [Sales & Stock] -> [Setup] -> [Default Unit], it will become the default base unit when creating stock code record. User may change the base unit at the time of Stock Code record creation.

- Examples of stock unit include unit, piece, pair, dozen, score and gross.

- No duplicated stock code is allowed.

V 03.02.01 Slide 19V 1.0 Slide 19Add Stock Master

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Stock Master] tab

Step 3. Click [Add] button

Add Stock Master

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Step 4. Fill in the fields

Add Stock Master

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Step 5. Click [Save] button

Add Stock Master

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Update Stock MasterUpdate Stock Master

- This function allows user to update an existing stock master record.

- User may change stock code information and effective status of the stock code.

- Updated information will appear on all the online screens and newly generated reports after the change.

- Change in effective status will be effective instantly.

V 03.02.01 Slide 23V 1.0 Slide 23Update Stock Master

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Stock Master] tab

Step 3. Enter the search criteria

Step 4. Click [Search] button

Update Stock Master

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Step 5. Click [Stock Code] hyperlink

Update Stock Master

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Step 6. Update the fields

Step 7. Click [Save] button

Update Stock Master

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Delete Stock MasterDelete Stock Master

- This function allows user to delete an existing stock code.

- Deletion of the stock code is not allowed if any Stock In Details with this stock code exists.

- Instead of deleting a stock code, user may consider setting the effective status of the stock code to “Inactive” if the code is no longer in use.

V 03.02.01 Slide 27V 1.0 Slide 27Delete Stock Master

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Stock Master] tab

Step 3. Enter the search criteria

Step 4. Click [Search] button

Delete Stock Master

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Step 5. Select the checkbox(es) next to the [Stock Code]

Delete Stock Master

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Step 6. Click [Delete] button

Note:Deleting stock code is not allowed, if any Stock In Details with this stock code exists.

Delete Stock Master

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Analysis Code

Sales & Stock - Analysis Code• An analysis code is used to characterize stock master records and facilitate user to fine tune the searching criteria in all online enquiry and reports.

• It is optional for user to use analysis code.

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Add Analysis CodeAdd Analysis Code

- This function allows user to create a new analysis code.

- By default, effective status of all newly created analysis codes will be set to “Active”.

- No duplicated analysis code record is allowed.

V 03.02.01 Slide 32V 1.0 Slide 32Add Analysis Code

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Analysis Code] tab

Step 3. Click [Add] button

Add Stock MasterAdd Analysis Code

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Step 4. Fill in the fields

Step 5. Click [Save] button

Add Stock MasterAdd Analysis Code

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Update Analysis CodeUpdate Analysis Code

- This function allows user to update an existing analysis code.

- User may change the description and effective status of the analysis code.

- Updated description will appear on all the online screens and newly generated reports after the change.

- Change in effective status will be effective instantly.

V 03.02.01 Slide 35V 1.0 Slide 35Update Analysis Code

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Analysis Code] tab

Step 3. Enter the search criteria

Step 4. Click [Search] button

Update Analysis Code

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Step 5. Click [Analysis Code] hyperlink

Update Analysis Code

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Step 6. Update the fields

Step 7. Click [Save] button

Update Analysis Code

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Delete Analysis CodeDelete Analysis Code

- This function allows user to delete an existing analysis code.

- User is not allowed to delete analysis code, if any stock master record with this analysis code exists in Stock In Details.

- Instead of deleting an analysis code, user may consider setting the effective status of the analysis code to “Inactive” if the code is no longer in use.

V 03.02.01 Slide 39V 1.0 Slide 39Delete Analysis Code

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Analysis Code] tab

Step 3. Click [Search] button

Delete Analysis Code

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Step 4. Select the checkbox(es) next to the [Analysis Code]

Delete Analysis Code

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Step 5. Click [Delete] button

Note:Deleting Analysis Code is not allowed, if any Stock In Details with this analysis code exists.

Delete Analysis Code

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Costing Method

Sales & Stock - Costing Method• This function allows user to select a default costing method for the sales and stock activity on any accounting years created in the system.

• Specified costing method will be applied to all sales and stock activities as default value to compute the profit and loss of all the sales and stock activities for that particular accounting year.

V 03.02.01 Slide 43V 1.0 Slide 43Costing Method

Costing Method

• First In First Out – FIFO (Default)

• Last In First Out - LIFO

• Weighted Average

3 methods available in the system:-

• Setup must be performed yearly, otherwise, FIFO will be taken as selected for the new year.

V 03.02.01 Slide 44V 1.0 Slide 44FIFO Costing Method

Costing Method – First In First Out

Date of Purchase

01/09/2003

15/09/2003

Quantity

1000pcs

500pcs

Unit Cost

$10

$12

Date of Sale

16/09/2003

Quantity

1200pcs

Unit Selling Price

$15

Quantity Out

1000pcs

200pcs

Unit Cost

$10

$12

Profit

$5000

$600

V 03.02.01 Slide 45V 1.0 Slide 45LIFO Costing Method

Costing Method – Last In First Out

Date of Purchase

01/09/2003

15/09/2003

Quantity

1000pcs

500pcs

Unit Cost

$10

$12

Date of Sale

16/09/2003

Quantity

1200pcs

Unit Selling Price

$15

Quantity Out

700pcs

500pcs

Unit Cost

$10

$12

Profit

$3500

$1500

V 03.02.01 Slide 46V 1.0 Slide 46Weighted Average Costing Method

Costing Method – Weighted Average

Date of Purchase

01/09/2003

15/09/2003

Total:

Quantity

1000pcs

500pcs

1500pcs

Unit Cost

$10

$12

Date of Sale

16/09/2003

Quantity

1200pcs

Unit Selling Price

$15

Quantity Out

1200pcs

Weighted Average Cost: $(10 x 1000 + 12 x 500) /1500 = $10.67

Unit Cost

$10.67

Profit

$5200

V 03.02.01 Slide 47V 1.0 Slide 47Maintain Costing Method

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Costing Method] tab

Step 3. Enter the Accounting Year

Maintain Costing Method

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Step 4. Click [Search] button

Maintain Costing Method

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By default, the costing method is First In First Out

Maintain Costing Method

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Step 5. Click to change the Costing Method

Maintain Costing Method

V 03.02.01 Slide 51V 1.0 Slide 51Maintain Costing Method

Step 6. Click [Save] button

Maintain Costing Method

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Sales & Stock - Default Unit• Default unit is the base unit for the creation of stock code.

• User may change the base unit when creating stock code.

Default Unit

V 03.02.01 Slide 53V 1.0 Slide 53Maintain Default Unit

Step 1. Click [Sales & Stock] [Setup] from the left menu.

Step 2. Click [Default Unit] tab

Maintain Default Unit

V 03.02.01 Slide 54V 1.0 Slide 54Maintain Default Unit

Step 3. Enter the new Default Unit

Step 4. Click [Save] button

Press

ESCAPE

to return

Maintain Default Unit