Creating Supplier Groups in Stock

In order for your stock supplier invoices to be processed correctly you need to create Supplier groups that are linked to stock withdrawal. This enables the stock you are booking into the system to be charged to the stock account within the balance sheet. If you have selected a default setup this account will be 1091. Once the stock has been booked in and charged to the stock account within your balance sheet it will be then transferred out to the Cost of sales account within your Profit and Loss account when sales invoices are raised. If you have selected a default setup this account will be 5000. If you have imported your own chart of accounts then you just select the accounts you have created.

To create a stock supplier group :-

• Click on the menu option within the Stock tab New supplier order/receipt/invoice
  
• Select from the centre section of your screen
  
• Select from the centre section of your screen
  
  
• Enter a number, name e.g. stock suppliers. In account select the Creditor control account, if you have selected a default setup this will be 2100 and tick the Stock box
  
  
• In the Contra account - Supplier box enter you stock account within the balance sheet, if you have selected a default setup this will be 1091
  
  
• In the Contra account - cost price enter you cost of sales account, if you have selected a default setup this will be 5000
  
  
• You can select accounts to charge Freight , Discount and Charges to or you can tick the boxes and and they can be allocated to the stock account.
  
  
• Click OK

This video shows you how to create and apply Supplier Groups with stock withdrawal:-