Stock ledger is a register to keep the record of receipts and issues of stock items. It is kept in charge of the store keeper of the concerned department. It is a essential part of the store to keep the record of the items in the store. You can easily find the items in the store just viewing the stock ledger.
Types of stock ledger: There are generally two types of stock ledgers:
Dead Stock Ledger and Expendable Stock Ledger:
Dead stock Ledger is a register that is for the items that are permanent and not consumable and these items can not be issued by the store keeper. While the Expendable ledger is a ledger that is used to keep the record for the consumable items. These items can be issued at any time after the purchase.
Here are mentioned a few precautions while taking the items on the charge ledger.
Receipt Voucher: Whenever a new item is purchased it is first taken of receipt voucher wit all details from where the items have been got and by whom it is purchased, date of purchase, and quantity of the items, price of the item and the total price of all the items purchased. Give a proper number to the voucher along with date.
At the end a certificate is given that is “certified that all the items have been received and taken on the charge ledger properly”.
Starting a new ledger: After keeping the record of the items received on the receipt voucher next step is to take the items on the stock ledger. When you start a new ledger first of all give it page numbering and then paste a certificate saying that this ledger contains number of pages. If your ledger contains 100 pages then you can give a certificate that this ledger contains 100 pages. After that you fix index page giving the details of the items and their page numbers. Each item should be entered on a separate page.
Entry in the Ledger: After taken the items on the receipt vouchers, then you have to enter these items into the stock ledger. For the dead stock ledger here are many columns. Enter the newly received item in the column of serviceable item and mention the quantity of the items and at the end there is a column that must be signed by the store keeper. In the first column enter the voucher number and the date.
In expendable ledger enter the item in the column of receipt items with their quantity and in the last column the store keeper must sign there.
Issuance of Items: For the dead stock ledger the items are issued after the approval of the committee constituted by the head of the department. If the committee approves that some items are repairable and some items are un-serviceable able then keep the proper entry of the items according to the recommendation of the committee.
For the issuance of the items of the expandable items there is no need of committee. These items are just issued when ever they are used and consumed. For both the issuance processes an issue voucher is compulsory. After entering the items to be issued there must be given a certificate saying” The above mentioned items have been issued/used and stuck off from the ledger.
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