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Stock Accounts

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About Stock Accounts

Stock Accounts are used to record non-cash stock items in Clubtreasurer.  Stock Account valuations and valuation changes will appear in your Statement of Assets and Liabilities Reports (Balance Sheet) under “Current Assets”.

If you are using the Cost of Sales accounting method (see below), the period stock cost of sales will be charged to your Profit & Loss Account.

Viewing Stock Account Balances

Navigate to Accounts > Stock Account Balances

(You can also access Stock Accounts from the Account Balances page)

The Stock Account Balances page provides a summary of your stock accounts, including current balances. Use this page to:

  • Open Stock Accounts by clicking the Stock Account name or View/Edit icon
  • Filter the report to hide/show Active or Closed Stock Accounts
  • Create New Stock Accounts
Stock Accounts

To create a new Stock Account

  • Click “New Stock Account“
  • Complete the form, include Opening Balance Details

Stock Accounting Methods

You can now choose to manage your Stock accounting either on a Cash-basis or using the Cost of Sales method.

  • Cash basis: Stock Addition transactions are treated as normal cash transactions (Payments) and appear as a cost on your Profit and Loss Reports at the time of payment. Cash basis does not take account of how much stock was sold in your reporting period.
    • If required, you can manually revalue your Stock. Period Stock valuations will appear on your Statement of Assets & Liabilities / Balance Sheet under ‘Current Assets’.
    • the Cash basis method does NOT charge Stock revaluations to your Profit & Loss Account.
  • Cost of Sales: With the Cost of Sales (or Cost of Goods Sold) method, you count your stock and enter a period Stock Closing Balance. Clubtreasurer then calculates your Cost of Sales as Opening Stock + Stock Purchases − Closing Stock. You link at least one Purchase Cost Code to each Stock Account (required), and optionally a Sales Cost Code, so your stock surplus/deficit appears on your Profit and Loss report. This method better reflects the period stock costs used to generate your sales.

Cash Basis Method

To enter Stock Valuation transactions

  1. Navigate to Accounts > Stock Account Balances
  2. Click the View/Edit icon or Stock Account name to open the Manage Stock Account page.
  3. Click the Stock Revaluation/Writedown button. (To record stock you’ve bought, use the Stock Addition button instead.)
  4. Enter:
    • Valuation Details: Accept default or enter a friendly description of the transaction
    • Transaction Date
    • Type: Select:
      • Sales or Disposals*
      • Revaluations or Write-downs*
        * These are linked to system Cost Codes (Current Assets)
  5. Valuation Inc/(Dec): Enter valuation increase or decrease (negative amounts for decrease/write-down).
    • You cannot enter a write-down (negative) valuation that this higher than the stock balance.
      • Importantly, Stock Accounts are used for valuation purposes only to appear in your BS/SOAL reports. They do not affect cash-flows, therefore you should also enter new Payment or Receipt transactions for stock purchase and/or any sales proceeds from stock sales as appropriate.
  6. Comments: Optional

Cost of Sales Method

Your Cost of Sales for a reporting period is calculated as Opening Stock + Stock Purchases − Closing Stock. To calculate it, you must link a Purchase Cost Code to the Stock Account and enter a period closing balance.

Record your stock purchases as normal Payments to your Purchase Cost Code, and any stock sales as normal Receipts to your Sales Cost Code. Under this method your stock count sets the stock value, so the Stock Addition button is not shown.

  1. Navigate to Accounts > Stock Account Balances
  2. Click the View/Edit icon or Stock Account name to open the Manage Stock Account page
  3. Click the Edit Account button and link your Cost Codes to the Stock Account:
    • Stock Purchase Cost Codes (required): the Cost Code(s) you use when paying for stock
    • Stock Sales Cost Codes (optional): the Cost Code(s) you use for stock sales income. Leave empty if the stock is used or given away rather than sold.
  4. Save changes to Close window
  5. Click the Enter Stock Closing Balance button
    • Enter Closing Balance Date
    • Enter your New Closing Balance valuation for this Stock item and click the “Calculate…” button
    • The system will generate a Cost of Sales Adjustment value: the change between your previous stock value and your new Closing Balance. Your stock purchases are already recorded as Payments to your Purchase Cost Code, so this adjustment corrects your period Stock Cost of Sales amount.

Your Stock Account page

The Stock Valuation report on the Stock Account page lists your Opening Balance and Closing Balances, together with the payments and receipts recorded against your Purchase and Sales Cost Codes. Click any line to open the transaction. If a Purchase or Sales Cost Code is missing, you’ll see a reminder at the top of the page.

Opening Balance date

Your stock Opening Balance is the stock you held on the date you started the Stock Account. It is always used as your opening stock, even if it falls part-way through a reporting period. Only purchases from that date onwards count towards Cost of Sales. Earlier purchases appear under Expenses as normal.

Age-locked Cost Codes

Once a Purchase or Sales Cost Code has been used in a previous financial year, it is age-locked on the Stock Account and can’t be added or removed. This prevents you accidentally changing the Cost of Sales in accounts you’ve already reported. If your Stock Account started this financial year, you’ll see a reminder instead, so choose your Cost Codes carefully when you first set up the account.

Reports

  • Statement of Assets and Liabilities report shows your Stock Account balances under CURRENT ASSETS – OTHER ASSETS
  • Cost of Sales method: the Profit & Loss Report – Stock Cost of Sales Format shows Opening Stock, Stock Purchases, Closing Stock, Cost of Sales and your stock surplus/deficit for each Stock Account. Find it under Reports › Financial Statements.