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Own Parts

    Veculim enables you to keep track of all your parts that are in stock, via the Own Stock button on the Inventory tab. Own Stock can come about as a result of 3 different actions:

    1. Salavaged Stock - Parts salvaged from a Job which can then be repaired and re-used. (usually for older vehicles)

    2. RFC's (Return for Credit) - When a Return for credit is refused by a supplier, either by  time expired or non-returnable items.

    3. Direct Purchases - This applies to new OEM or alternative parts sourced directly by repairer and held in stock for use in all categories of jobs.

     

    In each case the repairer's own stock listing will reflect a "Book Value" being the listed cost price set by the Repairer. In the case of RFC's and direct purchases this will be the actual acquisition cost (the price paid to the supplier). In the case of a salvaged item this will be a market related price set by the repairer.

     

    OwnPartsStockListing

     

    "Take On" Transactions

    The three different Categories each have their own take on Procedures:

     
    Salvaged Stock

    - Select Own Stock from the Inventory Menu then select to "Insert" an item. Enter all the required vehicle and Part Details and assign a "Part Cost Value". No further Financial actions or Transactions will apply.

    NB: Salvaged Stock will not reflect any CP as there was no actual acquisition cost.

     

    PartsStockupdate

     

    RFC's

    - Select RFC's from the Purchases Menu, find the item not returned or accepted by the Supplier and click on "Take into Stock".
     Select the item/s to take into Stock and "Accept". In addition to updating the Own Stock listing the system will create a "Stock Journal Voucher" crediting Cost of Sales Parts and Debiting Inventory-own parts with the actual cost of the parts.

    RFCitemsintoOwnStock

     

    Direct Purchases

    - Create a Miscellaneous order. Enter the Line details of the own stock items required and ensure that the General Ledger code is entered to reflect Inventory-Own Parts. This will ensure that when the order is received,booked in on the PCR sheet and then captured on the Ledger that the Own Stock item transactions will be processed correctly by the system.

    You can order OwnStock Parts specific to a vehicle OR you can order  generic items. The OwnStock Parts will be listed in the Quantities you ordered and will be issued out in singular or multiple quantities.

    DO NOT mix Own Stock purchases on an order with other expense items.

     

    Miscorderstock

     

    "Disposal" Transactions

    There are three ways of disposing (clearing) an own stock item off the list. These are as follows:

    1. Used in Repair or jobcard - Any own stock item quoted for on a job will be listed like all other items to be purchased from a supplier. the difference is that the Supplier name will reflect as "Own Stock". A normal Parts purchase order will be made out and booked-in as received on the PCR sheet, and posting done to the Ledger. No VAT is added to the Cost of the Order, no creditor entry is processed but a Stock Journal Voucher is created by the system.

     

    2. Sale of a Part - If an own stock part is sold to any third party a Miscellaneous Invoice must be raised. The system will create a normal Sales Invoice. In the case of Own Stock Items with a true cost value (RFC and direct purchased items) the systerm will also create a Stock Journal Voucher with the book value of the items.

    No Stock Journal will be created in the case of  salvaged items.

    The System will then update the Own Stock listing with the Sales details and the Part status will be reset to SOLD.

    MiscInv-stock

     

    3. Stock Losses or write-offs - Where own stock items become obsolete, too damaged or incomplete to use or simply dissappear they will be cleared by selecting Own Stock, Change and then select Use on the left of the window displayed.

    PartsStockupdate-disposal

    Click on the Dispose button which will then open up the Dispose Own Parts window.

    OwnPartsDisposal

    Enter the Quantity you wish to dispose of, the GL Account you will use and also a Reason for the disposal in the comment field.

    *Please note that the Disposal can be reversed however we strongly suggest this feature only be available to Managers or Owners.

     

    Page last modified 13:09, 21 Jul 2017 by Jennifer Veculim > Inventory > Own Parts

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