What is Physical Stock Voucher and Register and Its Benefits in Inventory Management?
Inventory and stock play a significant role in defining a business and its profitability, and it is a well-known fact. One of the most crucial features every business owner expects in an accounting software is for it to be able to track inventory accurately and seamlessly. For any business to efficiently manage its activities, the stock needs to be recorded error-free. Any business owner who is looking for a business software demands it to be robust and flexible, so that at any given point data can be altered as per the requirement.
Physical Stock Voucher is used for recording the actual stock which is verified or counted. It could happen that the Book Stocks and the Physical Stock do not match. It is not unusual that the company finds a discrepancy between actual stock and computer stock figure. In such scenarios, the software must give you the flexibility to accommodate such discrepancies so that your books and stock-in-hand match. Physical stock differences must not be ignored by any business as stock management can make or break your business.
Often while running your physical audits, you may encounter some discrepancy in stocks. With physical stock journal, you can easily make the changes so that you can take your business decisions accurately without affecting your profitability. Mismatch between the value of closing stock recorded in the company books and the actual physical stock in the godown can arise due to
- Inaccurate stock records
- Theft, damage, loss, and so on
These discrepancies can be rectified by passing a physical stock voucher so that the closing stock as accurate.
With Tally.ERP 9’s physical stock register feature you can easily assess the available stock and find out about the inventory discrepancies in your books. This way you can effortlessly adjust the stock values and even derive to conclusions as to why your book stocks do not match with your physical stock. Physical stock vouchers offer you a great deal of flexibility in terms of recording of stocks with the help of which you can easily and seamlessly manage and view the status of your inventory at a single shot. With the feature of narrations, you can even clearly view the reason behind various inconsistencies and manage your business more efficiently.
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Author: Pratibha DevasenapathyA newbie in the world of finance writing with a passion to learn something new each day. Pratibha has shown exponential enthusiasm to understand the world of MSME and financing and has been writing blogs to spread knowledge and understanding of digital marketing and social media. With a vast experience of 6 years in digital content writing, she draws attention towards the importance of digital medium through her words.
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