The Meaning of a Store
A store can be defined as a place where goods are kept for future use. A store house is also known as the warehouse. It is a place that must be easy to reach and good for safekeeping of items.
The items kept in the store house are: raw materials, semi finished goods, finished goods, spare parts that may be used from time to time for the performance of their activities.
Store Record: A store record is a detailed account of all items of goods, raw materials, semi finished goods, finished goods, spare part etc which are kept in the store.
A store record is an important document that helps an organization to determine the rate of use of raw materials and spare part so as to know the time to buy more into the store.
The rate of use will help the organization to determine how much money to be allocated for the purchase of materials to replenish the stock.
Types of Store Record
The following are the types of store records
- The stock record card: The store record card is like the picture of all the items in the store. It provides the detailed of information about the quantity of goods supplied or received in the store room with dates. It also carries the voucher number, the name of the supplier, the quantity of goods issued, the requisition and the stock balance
- Stock requisition form: A stock requisition form is an interval document for controlling and regulating the use of stock items in the organization. The stock requisition form provide the following information:
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