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This document discusses the importance of keeping accurate store records including ordering levels, verification, perpetual inventory, interim profit and loss calculations, and up-to-date bin cards. Maintaining such records helps ensure stock levels are accurate and any discrepancies can be identified and addressed.
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Store keeper technical.pdf
The store keeper maintains a store ledger to track the quantity and value of materials received and issued. The store ledger contains receipts and issues of materials, the balance of materials on hand, and serves as an audit trail to detect mistakes or fraud. It is maintained centrally in the cost office to provide consolidated information on material usage.
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- 2. record 3. Ordering level 4. Verification 5 . 6. Perpetual Inventory 7. Interim profit / loss 8. Accuracy 9. Up - to - date record 10. Control material cost XYZ Limited Bin card Helps in
- 3. verification of the stock . Helps in Initiating Action : Any discrepancy between the balance of stock in hand as revealed by the Bin card and the actual balances of stock in hand found on