Stock & Inventory Setup: Sale & Purchase Vouchers (Part 1) in ERP

Published on 28, July, 2025

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Before recording any purchase or sale entries in a business, it's essential to set up your stock and inventory system properly. In this detailed guide, we walk you through everything you need to do in Accounting (All-in-One) ERP to get your stock system ready for professional-grade business transactions.

📦 Why Proper Inventory Setup Matters

Most accounting mistakes begin with incomplete inventory setup. Whether you're a retailer, wholesaler, or manufacturer, accurate stock configuration helps you:

• Track your real-time inventory
• Generate purchase/sale reports correctly
• Avoid mismatched closing balances
• Enable batch-wise, unit-wise, or MRP-based calculations

🧱 Step 1: Stock Group & Unit Setup

Start by creating your stock Groups and Units based on how you categorize your products. For example:

• Groups: Electronics, FMCG, Garments, Mobile Accessories
• Units: Pieces, Boxes, Litres, Meters

This ensures that your items are classified correctly and sold/purchased in appropriate quantities.

🛠️ Step 2: Add Item Categories & Sizes

Depending on your industry, you may want to break down items by:

• Categories: Brands, Product Lines, Item Types
• Sizes: S, M, L, XL (for garments) or 500ml, 1L (for liquids)

These filters give you better reporting and billing accuracy.

📊 Step 3: Define Opening Stock Balances

Before entering any voucher, you need to tell the system how much stock you already have. This is done via Opening Stock entries:

• Set item name, quantity, unit, and opening rate
• Track purchase value to generate future P&L statements

Example: Add 100 units of "Tata Salt 1kg" at ₹30 each to record existing inventory.

🔁 Multiple Valuation Modes Supported

Our ERP supports:

• Rate-based opening: Set stock at a standard rate
• MRP + Discount: Auto-adjust billing during voucher entries
• Batch-wise entries: Track expiry/manufacturing dates

This flexibility helps you replicate your real-life stock model inside your software.

🎛️ Real-Time Impact on Ledger & Reports

Once your inventory is configured, every purchase or sale voucher will auto-update the related:

• Item balances
• Stock valuation reports
• Day Book and Party Ledger balances

This creates a live link between stock and accounts — giving you a smart, unified business view.

✨ Smart UX Touches for Faster Setup

• Auto-complete dropdowns for items, groups, units
• Keyboard shortcuts for faster data entry
• Clear validation messages to avoid wrong entries

Even first-time users will feel at home — no training needed!

✅ Summary: What You’ll Have Ready

• All your inventory items created with proper categorization
• Opening stock balances for accurate reporting
• Grouped and unitized stock items for easy tracking
• Preparation done to begin purchase and sale voucher entries (covered in Part 2)

This blog is your step-by-step foundation. Once this is done, you’re ready to enter live purchase and sale transactions — which we’ll cover in the next guide.

📺 Watch this video tutorial: Click here to watch on YouTube — and follow along to see every feature in action with real examples inside our Accounting (All-in-One) ERP software.