Guide12 topics11 FAQs

Inventory Management — Stock, Items, Barcodes, Stores & FIFO Valuation

Stock Register gives you complete control over your inventory. View real-time stock levels across all your stores, add items individually or upload hundreds via Excel, adjust stock for damages or corrections, transfer goods between warehouses, generate and print barcode labels for faster billing, and organize items into categories for easy filtering. Stock valuation uses the FIFO (First In, First Out) method for accurate profit calculations. Every sale and purchase automatically updates inventory — no manual work needed.

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Frequently Asked Questions

Yes, every sales invoice automatically reduces stock and every purchase invoice automatically increases stock for the items involved. You do not need to make manual adjustments for regular transactions.

Yes, Stock Register supports multiple stores/warehouses. You can track stock levels at each location separately, transfer stock between stores, view store-wise reports, and assign specific stores to staff members for access control.

Use the Bulk Upload feature. Go to Inventory > Items, click Bulk Upload, download the Excel template, fill in your item details (name, price, barcode, category, GST, opening stock), and upload. You can add hundreds of items in one go.

Yes, go to Inventory > Barcode, select your items, set the number of labels and label size, and generate barcodes. You can print them directly on barcode sticker sheets or download as PDF.

Stock adjustment is used to manually add or remove stock quantities for reasons outside of regular sales and purchases. Common scenarios include: damaged goods, items lost in transit, items found during physical audit, or corrections after a stocktake.

Stock Register uses the FIFO (First In, First Out) method for stock valuation. When you sell items, the cost is calculated based on the oldest purchase price first. This ensures accurate profit calculations and is the most widely accepted inventory valuation method for tax compliance and financial reporting.

Yes, under GST law, every registered dealer must maintain proper stock records including opening stock, purchases, sales, and closing stock. Non-compliance can lead to penalties during GST audit. Stock Register software automates this record-keeping so you're always compliant.

Ideally, your stock register should be updated in real-time with every purchase and sale transaction. With Stock Register software, this happens automatically — every sales invoice reduces stock and every purchase invoice increases it. Manual stock registers should be updated at least daily.

Both terms refer to the same thing — a record of goods/items that a business holds for sale or use. 'Stock register' is more commonly used in India, while 'inventory register' is the international term. Both track item quantities, values, and movements.

Conduct a physical stock count, compare quantities with your software records, and use Stock Adjustment to correct any differences. Common causes of discrepancy include theft, damage, expired goods, data entry errors, and goods in transit. Regular reconciliation (monthly or quarterly) prevents large discrepancies.

FIFO (First In, First Out) is the most commonly used and recommended method for small businesses in India. It assumes oldest stock is sold first, which is realistic for most businesses and is accepted under GST and Income Tax. Stock Register uses FIFO by default for automatic valuation.

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