💡Simplify Stock Budgeting with Forecast 5’s 3 Stock Record Types
Budgeting for stock can be tricky, especially when different products and production methods are involved. Forecast 5 offers three stock record types designed to help you budget faster and more accurately, tailored to the way your business operates.
1️⃣ Stock
The standard Stock record lets you manage purchases rather than just monetary expenditure. Forecast 5 automatically includes stock values in the balance sheet and tracks how stock is purchased and used, giving you a clear picture of your inventory and costs.
2️⃣ Stock on Hand
The Stock on Hand record tracks products currently held in stock or work in progress. It can include components such as raw materials, labour, and overheads.
Sales can be processed directly from a Stock on Hand record, making it ideal for standard cost manufacturing or make-to-stock operations. This allows you to model production accurately while reflecting inventory in your financials.
3️⃣ Stock Made
The Stock Made record models the full production process, adding raw materials, labour, and overhead costs to create the cost of stock. This is driven directly by sales values or units, making it perfect for make-to-order scenarios while maintaining stock holdings in your balance sheet.
