What is Stock Register? How to Maintain Stock Register?

In this article, we will cover definition of stock register, stock management, stock register format, stock register software, how to maintain stock register in excel sheet, importance of stock register etc. By this process you can maintain raw material, finished goods, office inventory and other stocks etc.

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Stock Register:

Definition of Stock Register:

Stock Register may be define as live document/file/software record which is used for maintaining company’s stock. It is based upon live updated of addition of incoming stock (Purchase) and subtraction of issuing stock (Sale). It is an important aspect for any business for Inventory management, preventing shortage problem and maintaining regular supply of products.

Stock Management:

Managing Stock could be an integral part of managing a company. For small companies or in new start-ups, its a big challenge due to shortage of staff specially in pharma field where huge number of products present. Stock management involves receiving, stocking and dispatching etc. There are many types of stock management but few methods are commonly used. Commonly used methods are:

• Manually Stock Register Book
• Software
• Stock Management in Excel

Automatic Software is best possible way to maintain stock in pharmaceutical or any other sector which has large number of products. Manual hand written stock book is also managed by many small and macro sized pharmaceutical companies. It is time consuming process and one person is required to maintain only stock which may be costly for start-ups. Stock maintenance in excel is tricky work but up to a certain level of products, you can manage it easily and freely.  

We are committed to provide free tools for your company management system, so we are providing you a quick and easy way to maintain your stock in Microsoft excel. Basic parts are same in all form for maintaining stock. These parts are as follow or you can fix it as per your need.

• Date
• Product Name/Particulars
• Bill/Invoice Number
• Supplier/Receiver Name
• Issue
• Receipt
• Remark

Here we are embed excel sheet for your reference. We have mentioned Products as Product 1, Product 2, Product 3 to Product 10 and Link it to worksheet that contains detail of that product. You can create your own Stock Register in Excel for maintaining your stock by following Formula’s and ways. First Check our Example here:

Step by Step Demo:

• Open Microsoft Excel Sheet
• Create Work sheet of Each Product as we have mentioned like Product 1, Product 2, Product 3 etc. Create according to number of products available to you as indicated in Snap shoot below:

• Make a Index in above cells of your Sheet. Make it in first work sheet and prevent time by copy/pasting to all worksheets. Check Snap shot below:

• Make a title bar containing all details like Date, product name, bill number, issue, receive etc column wise as shown in snap shoot below:

• Create hyperlink to each product name with its work sheet of that product. Click at column of that Product Name. Press Ctrl + K. Choose Place in this Document and Select work sheet of name as shown in snap shot below:

Click here to Download Stock Management Excel sheet  

After preparing stock register in any format (Software, book, excel etc), you need to regular update it as it is live document. If you will not maintain it at regular basis then it will be difficult to maintain stock.

How to maintain Stock Register?

Maintaining a stock register involves keeping an accurate and up-to-date record of all the goods or products that a business holds in stock. Here are the basic steps to follow to maintain a stock register:

• Choose a stock register format: Decide on the format you want to use for your stock register. You can use a manual system with a pen and paper or an electronic system using software like Excel or specialized inventory management software.
• Record all incoming stock: Whenever new stock arrives, record the date of receipt, the name of the supplier, the quantity of goods received, and any relevant information about the products.
• Record all outgoing stock: Whenever stock is sold or otherwise leaves the premises, record the date of the transaction, the name of the customer or recipient, the quantity of goods sold or transferred, and any other relevant information.
• Update the stock balance: After each transaction, adjust the stock balance to reflect the new level of stock on hand.
• Perform regular stock takes: Regularly perform stock takes to ensure that the stock register accurately reflects the actual stock levels.
• Analyze stock movements: Use the stock register to analyze stock movements, identify trends and patterns, and make informed decisions about purchasing and sales.
• Ensure accuracy: Ensure that the stock register is accurate and up-to-date at all times. This will help you to avoid stock shortages, overstocking, and other issues that can affect your business operations.

By following these steps, you can maintain an accurate and up-to-date stock register that will help you to manage your inventory effectively.

How to maintain stock register book manually?

A manual stock register can be created using a pen and paper, a notebook or a ledger book. Here is a simple format that you can use to maintain a manual stock register:

Stock Item: List all the items or products that you stock in your business. Each item should have a unique code or number assigned to it for easy identification.

Opening Stock: Record the quantity of each item you have in stock at the beginning of the day, week, or month.

Receipts: Record all the goods received in the inward column of the register. Include the date of receipt, the name of the supplier, the invoice number, and the quantity of goods received.

Issues: Record all the goods issued to customers or used for production in the outward column of the register. Include the date of issue, the name of the customer, the invoice number, and the quantity of goods issued.

Closing Stock: At the end of the day, week, or month, record the quantity of each item that you have in stock. This will be the opening stock for the next period.

Remarks: Include any relevant information, such as stock returns, damages, and adjustments, in the remark’s column.

Here’s an example of how the stock register format may look like:

Stock Item	Opening Stock	Receipts	Issues	Closing Stock	Remarks
Item A	50	20	10	60
Item B	100	50	30	120
Item C	75	25	20	80

By maintaining a manual stock register in this format, you can keep track of your inventory levels and ensure that you always have enough stock on hand to meet customer demand.

Importance of Stock Register:

Stock register means a record or database of  goods purchased, stored and sold out. Which is helpful in most of aspects of business. Few importance of stock register is as follow:  

• Inventory Management
• Maintenance of regular supply
• Evaluation of total stock in Hand
• Calculation of reordered quantity, reordered time, minimum and maximum stock availability etc

Hope above information is useful to you. If you have better and simple idea for stock management, you can share it with us. You can comment or mail at below mail at pharmafranchiseehelp@gmail.com