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In this Tutorial we are going to look at how we can Import or Take On our Stock Balances at a certain point in time. The situation is that we already have a System and we have, at this stage, already established the Stock Items, but they have no Financial Values and no Quantities.

However we have in our System, from our Trial Balance an Account where we currently hold this Stock Value.

So we start by looking at the Account in my General Ledger. In this case Account number 99101010, which has the value of my stock at the moment that I would like to distribute to my Stock System.

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The Currency in this example is Rand. We can see that we have a balance on this account of R2300.33.

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Next. We are looking at one of the Stock Items that we are going to include in our Stock Value Take On. So here we are looking at the Stock Master Record for account 3022131.

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Our focus in this example is to look at store number 99 that is listed at line number 8.

As we can see, for store 99 we have no Values for this Stock Item.

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Now we are going to drill into this Stock Item in store number 99 to see that there are no Values.

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So when looking at this Stock Item in store 99, we can see that we have no history here. No Financial Values No Order History and No Quantities at all.

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We are now going to move to the System Setup Module where we have Options for taking On Values and in this case, the Stock Values.

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So we have already established our Master Files for the Stock, but we want to perform a Take On of some Balances.

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The Balances that I want to Take On relate to Inventory, i.e. Stock and Stores.

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Here we have Options for “Movement History” and for “Balances As At”

Now Movement History is something that I might Take On when I want to Take On History, i.e. Transactions over a number of Periods.

But in this case I have no History at all, and I just want to establish the Value and the Quantities of the Stock Items at a certain point.

So I am going to use the “Balances As At” Option.

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The 1^st thing we want to do here is to look at the Data Layout View, so that we can understand what information and what Data the System actually needs to perform the Balance Take On.

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Here it is explained that if we have a Spread Sheet, then in column 1 we can list the Stock Item Codes. Column 2 we list the Stores where these Items will be Taken On. Column 3 we will list the Quantities with 2 decimals allowed. Column 4 we will list the Financial Value of those Quantities and in Column 5 we will list the Ledger Account to Credit.

In our case that will be the account that we looked at in the beginning of this tutorial, account 99101010, where we currently hold the Stock Item Value.

So this account will be Credited every time we Take On a Stock Item with some value and of course our Stock will be Debited.

In column 6 we can optionally also indicate a Bin. But in this example we are not going to include column 6 and 7.

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Here we have some more explanation as to what happens when the Quantity is greater than zero, but the Value is zero.

Or when the Quantity is zero and the Value greater than zero.

The general situation is that the average Cost is Value divided by Quantity.

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So here we have a Spread Sheet with only 2 Stock Items that I am going to Take On. We can have any list of Stock Items here. We can have a long list and we can also perform this multiple times. In other words, we can have different sets to Take On.

Each line represents one Stock Item into a specified Store with a Quantity and a Value and of course the Ledger Account that will be Credited when we Debit that stock Item, with that Quantity and Value.

So columns A B C D and E are columns 1 2 3 4 and 5 as we saw in our Data Layout.

Now this Spread Sheet as a CSV File.

Comma Separated Values and place it in the “My Folder” in the Fast Drive.

That is where the System will look for Files that we can possibly Import for Take On purposes.

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So the first step is going to be to Import the Data from that Spread Sheet that I have Saved.

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Here we will choose “Select Import From” to select the correct File where the Data can be gleaned from.

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The System will now offer me a list of CSV Files that it finds on the Fast Drive in the My Folder.

The one that I am looking for is the one that I have Saved and is called Stock.CSV.

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Now we just choose “Next” to Import this Data.

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The System informs that it has Imported 2 records, which is correct because I had 2 lines in my spreadsheet.

And now we have an Option to inspect the Data for bad Characters.

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The next step is to Validate the Data that has been Imported. The System will not Perform the Take On unless it is happy with the Data.

In other words it is going to check the Data that I have Imported and it will decide whether these Stock Items actually already exists on the Master Files, as well as the Store for which designated.

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So, if we have nothing reported between “start’ and “end” then it means the System is quite happy with the Data.

If there are errors listed, we would have to correct those and repeat the procedure until we get nothing reported between “start” and “end”

Then we have valid Data to perform and Take On.

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Now we can see here that the System Updates the Process Status to Data Validations Passed.

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Next we will choose the Financial Period to which we want to post these Balances.

The Values and Quantities for the Stock Balances.

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We also choose the Transaction Date to use for the Take On Transactions.

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We will also indicate the Transaction Description to use for each Take On Transactions.

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Then we just choose the “Perform the Take On” step.

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The System performs the Take On and advises the number of Transactions that have been generated. This will be equal to the number of lines in our Take On File.

In this case 2 Transactions.

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Now it is done but in the remainder of the tutorial we are going to look at the Results to establish an understanding of what happens when we perform a Take On.

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When we look at this Ledger account that we have been Crediting during the Take On, where we had our Stock Value before, we see that the Financial Balances now is zero.

Now of course we do not have to Take On all the Value that is listed in this account.

In our example the Take On equals the Value that we held in this account before.

Now if we look at our Physicals we do see Credits there and these are the Quantities that have been Taken On.

Now of course that has no effect on this account, because this is simply an account where we previously had the Financial Balance.

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So if we drill into the Transactions on this account for July 2008, we will see 3 Transactions. The 1^st one being the Stock Value from the Trial Balance, which is the Transaction that I established to put the Stock Value there.

Then we will see the 2 Take On Transactions which re Credits to this Account.

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Next we have a look at the Stock Master Records for one of the two Stock Items that we have applied in this Take On.

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So for this particular Stock Item there was one Take On Transaction in July.

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And here we have the Transaction with a Financial Value of R300.33.

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Now when we drill into the Transaction detail, we can see the Financial Value.

The Credit and the Debit and also the Quantity of the 3 that have been performed in the Take On for this particular Stock Item.

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Now we sill dill into the Stock Item in Store 99 where the actual Quantity has been Taken On.

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So here we have the Stock Item in Store 99 where we can now see an average cost of R100.11. That is the Value of R300.33 and the Quantity of 3.

So the average Cost Price is R100.11.

So now we have an On Hand Value of R300.33 and an On Hand Quantity of 3.

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So that is in a nutshell how we perform a Stock Take On.