This option allows you to define the units of stock you sell, and the selling price descriptions, as well as the units in which you sell your service items; and to set your Cost of Sales parameters. This information will be required when you create physical stock items.

The Stock Information should be set up if you trade in physical stock items and if you wish to sell items on a Point-of-Sale system. If you operate as a Service industry and wish to invoice services, you need to set up a Service Stock Item. You will be able to generate documents such as Invoices, Credit Notes, Quotes, Orders, Purchases and Supplier Returns.

If you do not intend to use documents, or stock, or service stock items if you are not controlling stock, and do not wish to generate documents, do not set up your stock information.

To Setup Stock Information:

1. Click on the Setup→System Parameters→Stock Information menu option.
   - Keyboard Access: Press the Alt+S+S+T keys on your keyboard.
   The Stock Information screen is displayed:
   
   
2. Units of Stock - Check the units in which your stock items are to be sold.
   1. To add any unit description - Type in a description in the Units of Stock field and click on the Add button.
   2. To delete any unit description - Select the description in the Units of Stock field and click on the Delete button.
3. Selling Prices - TurboCASH allows you to define up to three (3) descriptions for your selling prices. You may change the descriptions by typing your own descriptions in these fields.
4. Select the Create Cost of Sales field in the Use Cost of Sales section of the Stock Information screen if you wish to report on the gross profit for your stock items. If you select this field, the Cost of Sales area of the Stock Information screen will change to enable you to select the Cost of Sales account and to set the parameters for Cost of Sales.
   
   
5. Select to use Average Cost or Latest Cost (also called FIFO - First In First Out).
   - The method you choose is very important as it will influence your gross profit and consequently the net profit or loss. The method you choose is up to you - BUT, check with your accountant as to which method you should use. Although some countries may use LIFO (Last In First Out); this option, at this stage, has not been implemented in TurboCASH.
6. Select the following fields (tick boxes) where necessary:
   1. No Back-Order - this will disable the backorder facility.
   2. Can’t Sell out of Stock - Stock items cannot be sold if there are negative quantities (if there are no stock items on hand).
   3. No Print Confirmation - By default, a confirmation message to print a document is displayed when finished generating a document. You may select Yes to print the document at that stage or No to print it later. Selecting this option will not display the confirmation message. You may at any later stage print the documents in the Input→Documents→Print menu option or from the Documents Entry Header screen. You may also print documents on the Documents tab of a selected Debtor or Creditor Account.
   4. Check Reference Used - select this option to check or validate the reference as entered in the Your Reference field of a document.
   5. Can’t Create Items - If this option is selected, a user will not be allowed to create Stock Items if an invalid stock item is entered (on the keyboard) when selecting it on the Stock Item lookup facility while generating documents.
7. Click on the OK button, or press the Enter key on your keyboard, to close or exit this screen.