A Step-by-Step Guide to Setting Up Stock/Inventory in JobBag

See below a step-by-step guide for setting up and processing stock and inventory in JobBag

Stock/Inventory Set up process

Step 1: Choose Billable/Overhead option

This will depend on if you run wip and accruals each month

• Yes - Billable Job
• No - Overhead Job

Step 2: Create a Stock/Inventory Address book entry

• This entry should be both a client and supplier

Step 3: Create a new Stock/Inventory Job Type

Note: You can use the overheads JobBag type if you choose the overheads option

Step 4: Create a new Stock/Inventory Job

• Make sure you use the correct job type (Billable or Overheads)
• Use stock/inventory address book entry for the client

Step 5: Create General Ledger account

Navigate to Ledger menu > Chart of accounts > New/Clone

Note: Cloning is the prefered option to create new GL accounts

• Billings, direct costs and income account are mandatory for both Billable and Overheads options
• The balance sheet account GL1420 is only needed for OVERHEADS option. 
• Note: Billable option will use the work in progress account GL 1300

Step 6: Create Stock/Inventory category/kind and items

Navigate to JobBag menu > Kinds > New category > Stock/Inventory Items

Step 7: Add STOCK kind to Stock/Inventory category

• Use the same kind settings as set out below. For further information on these kinds settings refer to the add kind help page

Step 8: Add Stock/Inventory items to Stock kind

• These items should be a list of stock/inventory items that you will buy and sell
• Use the same items settings as per below. See add item to a kind help page for further information about other settings
• Charge rate should be the sales price
• Cost rate should be the costs price. This will need to be reviewed

Stock/Inventory Process

Step 1: Purchase Stock Items - Create PO

• Creating PO from stock job (Purchase order tab) will pre-fill the job number in the PO
• Add stock item in the kind field
• Add Quantity
• Add costs amount - Note: The cost amount will be calculated from the cost rate on the kind, however this can be over-written with the current quoted cost amount

Step 2: Stock/Inventory Items received - Create Supplier Invoice

• Creating a supplier invoice from the PO will pre-fill the supplier invoice

Step 3: Record Sales of Stock Items - Add sales into estimate

• Add Quantity
• Cost/charge rate will come from the item, these are editable

Step 4: Record stock/inventory movements - Create item charges

Navigate to Costings menu > Item charges

• This will move the stock and costs from the stock job into the client jobs, effectively reducing your stock balance

Step 5 Financial reporting

• Use a Job Detail report to track and manage stock balances
• Over time a stock-take adjustment will need to be made to these balances