10 | Stock on Hand Data Explained

This article covers the basic formulas used for calculating data in the Stock on Hand Report within BackOffice.

There are generally two ways of calculating Stock on Hand Report Formulas. The first method is by taking the total of the purchasing cost of each line of product. The second method is by taking an average of the purchasing cost from the total number of lines. Both of these methods are explained in detail in this article.

Prerequisites

• To access Stock on Hand Settings, the applicable Operator Privileges will need to be enabled 
• Operator Maintenance 'Reporting' Tab
• Sales Reports: "Allow Stock Reports" Flag

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Stock on Hand Report Formulas

• The Stock on Hand Report Standard View contains the following data columns by default:

• These fields can be calculated by two different methods which are as follows:

Method 1 - FIFO

• Here, the Cost on Hand is calculated on the basis of the FIFO (First In First Out) rule; this rule includes the cost price of each individual line of a stocked product if the same product has been purchased at different costs over the time by the business
• I.e., if the purchasing cost of one (1) Corona (out of the three stocked) is $1 and the purchasing cost of other two (2) is $2 each, Cost on Hand will be calculated as = (1 x 1) + (2 x 2) = $5