What is a Stock Register?

Stock Register

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Stock Register

A stock register, often referred to as an inventory register or stock ledger, is a document or digital record used to maintain details about the quantities, descriptions, and values of items held in stock or inventory. It provides a chronological record of inventory movements, helping businesses track and manage their inventory levels more efficiently.

Key elements typically included in a stock register are:

  • Item Description: A brief description of the item or product.
  • Stock Identifier or SKU: A unique code or number assigned to each inventory item.
  • Date of Transaction: The date when items were added to or removed from stock.
  • Quantity Received: The number of items added to the inventory, typically through purchase or production.
  • Quantity Issued: The number of items removed from inventory, usually because of sales or usage.
  • Balance: The remaining quantity of items in stock after each transaction.
  • Unit Price: The cost or value of a single unit of the item.
  • Total Value: The total cost or value of the items in stock (quantity x unit price).
  • Supplier Details: Information about the supplier if the stock was purchased.
  • Remarks/Notes: Any additional information or notes regarding the transaction, such as reasons for returns, damage, etc.

Example of a Stock Register

Let’s walk through a hypothetical example of a stock register for a business that sells electronic gadgets.

Stock Register for XYZ Electronics

DateDescriptionSKUQty ReceivedQty IssuedBalanceUnit PriceTotal ValueSupplierRemarks
01/01/2023Wireless EarbudsE0011500150$50$7,500AudioTech Inc.New shipment
02/01/2023SmartphoneP0021000100$300$30,000PhoneMakers Corp.January batch
03/01/2023Wireless EarbudsE001030120$50$6,000Sold in-store
05/01/2023TabletT00380080$200$16,000TabTech Co.New product addition
06/01/2023SmartphoneP00205050$300$15,000Online sales
07/01/2023TabletT00302060$200$12,000Sold to corporate client
10/01/2023Wireless EarbudsE00105070$50$3,500Online sales
12/01/2023SmartphoneP0021500200$300$60,000PhoneMakers Corp.Restock

From this register, the management of XYZ Electronics can:

  • Determine Inventory Levels: Identify the current stock levels for each product (e.g., there are 70 Wireless Earbuds left in stock).
  • Track Sales: See how many units of each product have been sold or issued (e.g., 50 Smartphones sold online).
  • Evaluate Suppliers: Understand the frequency and quantity of stock received from each supplier.
  • Manage Reordering: With the help of past records, determine the optimal time to reorder products to avoid stock-outs or overstocking.

This stock register serves as a fundamental tool for inventory management and financial planning for the business.

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