Store records are documents and accounts kept to record the receipt, storage, and issue of goods in a store. They help in maintaining proper control over stock and ensure items are available when needed.

1. Control of Stock: Helps prevent overstocking or understocking.


2. Prevents Theft and Loss: Records make it easier to track missing items.


3. Facilitates Planning: Helps management plan purchases and production.


4. Financial Accuracy: Assists in proper accounting for goods in stores.


5. Easy Reference: Enables quick retrieval of information about stock.


6. Decision Making: Helps management make informed decisions regarding store operations.

Store records are documents used to record, track, and manage goods in a store. They ensure proper control, accountability, and easy retrieval of information.

1. Store Requisition Forms

Definition: A document used by a department to request items from the store.

Uses of Store Requisition Forms:

1. It Prevents unauthorized access to store items.


2. It Provides a record of items issued to departments.


3. It Helps management monitor and control stock levels.


4. It Serves as a reference during audits or stock-taking.

2. Bin Cards

Definition: Cards kept in the store to record the quantity of each item received, issued, and remaining.

Uses of Bin Cards:

1. It Shows current stock level at a glance.


2. It Helps in controlling stock and preventing overstocking or understocking.


3. It Provides a quick reference for issuing goods.


4. It Supports stock-taking and verification.

3. Stock Ledger

Definition: A book that records the total stock of each item in the store, including opening balance, receipts, issues, and closing balance.

Uses of Stock Ledger:

1. It Maintains an accurate record of all stock transactions.


2. It Helps management plan purchases and control inventory.


3. It Provides evidence for accounting and financial reports.


4. It Facilitates stock reconciliation with physical inventory.

4. Goods Received Note (GRN)

Definition: A document prepared when goods are delivered to the store to confirm quantity and quality received.

Uses of Goods Received Note (GRN):

1. It Verifies that the goods delivered match the supplier’s delivery note.


2. It Records incoming goods for updating stock records.


3. It Acts as proof of receipt for payment and auditing.

5. Delivery Note / Gate Pass

Definition:

Delivery Note: A document sent by the supplier with goods showing what is delivered.

Gate Pass: Authorizes goods to enter or leave the premises.

Uses of Delivery Note / Gate Pass:

1. It Confirms delivery and receipt of goods.


2. It Controls movement of goods in and out of the store.


3. It Helps prevent theft and unauthorized removal of items.


4. It Supports stock verification during audits.

6. Stock Cards

Definition: Individual cards for each item in the store that record receipts, issues, and balances.

Uses of Stock Cards:

1. It Provides detailed information for each item in the store.


2. It Helps track stock movement accurately.


3. It Supports inventory checks and reconciliation.


4. It Makes issuing and receiving goods faster and organized.

7. Inventory / Stock Register

Definition: A complete list of all goods in the store at a specific time.

Uses of Inventory / Stock Register:

1. It Provides an overall picture of stock levels.


2. It Facilitates stock-taking and checking for discrepancies.


3. It Helps management plan purchases and avoid shortages.


4. It Serves as evidence for financial and audit purposes.

Receiving Goods:

1. Check delivery against order and delivery note.


2. Record goods in Goods Received Note (GRN).


3. Update Bin Cards and Stock Ledger.

Storing Goods:

1. Place items in designated locations.


2. Ensure proper labeling for easy identification.

Issuing Goods:

1. Receive a Store Requisition Form from the requesting department.


2. Check the quantity and availability of items.


3. Update Stock Cards, Bin Cards, and Stock Ledger to reflect the issue.

Stock-Taking / Inventory:

1. Regularly count items in the store.


2. Compare physical stock with stock records.


3. Identify discrepancies and adjust records accordingly.

Importance of Stock Taking:

1. Detects losses, theft, or damage.


2. Ensures stock records are accurate.


3. Helps plan future purchases.


4. Prevents overstocking or understocking.

Reporting:

Prepare reports on stock levels, shortages, or overstocking for management.

1. Accuracy: Records should be correctly entered.


2. Timeliness: Update records immediately after transactions.


3. Completeness: All items received and issued should be recorded.


4. Organization: Records should be well-arranged and easy to access.


5. Accountability: Responsible officers should maintain records.


6. Confidentiality: Sensitive information about stock should be protected.

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Summary:

Store records ensure proper control of goods in an organization. They include store requisitions, bin cards, stock ledgers, GRNs, delivery notes/gate passes, stock cards, and inventory registers. Proper maintenance allows accurate record-keeping, prevents losses, facilitates stock-taking, and supports informed management decisions.