If you have created a Set of Books, you first need to set up or check the following basic parameters and accounts, before continuing to create Stock items: 

1.Edit → Accounts - To create a Cost of sales account and Stock control account, if it does not exist in the template or Set of Books you have selected when creating your Set of Books. If you create Sub-accounts for your Sales account, you may also need to create matching Sub-accounts for the Cost of sales account and Stock control account.

2.Edit → Accounts - To create any required Tax codes (Input and Output Tax codes) for the Stock items or products which you will be trading in.

3.Edit → Debtors - To create a Cash customer account or Cash sales account if you are going to sell Stock items for cash.

4.Edit → Creditors - To create a Cash supplier or Cash purchases account if you are going to purchase any Stock items and pay cash for them.

5.Setup → System Parameters → Batch types - To create a Cost of sales batch (journal) which will be used to record and post the cost of the sales (average or latest cost depending on your selection on the Setup → System parameters → Stock information menu).

6.Setup → System parameters → Documents - Check that the document numbers and the batch types or journals are correct. You may wish to change your document numbers.

7.Setup → System Parameters → Stock information - To set the Stock Information and Cost of sales batch (journal) and account and define or rename the descriptions for up to three selling prices.

8.Setup → System Parameters → Salespersons - To add your Salespersons, if you wish to keep track of the persons who are selling your Stock items or Point-of-Sale cashiers.

9.Setup → System parameters → Groups - To create any Stock reporting groups according to which you may group your Stock Items.


Once the above basic settings are correct, you may then proceed to create your Stock item master files on the Edit → Stock items menu.


Once your Stock Items master files are created and correct, you may start to process documents. Before you start to process Invoices, you need to:

1.Take-on the opening quantities and cost prices for the Stock Items on the Input Adjust stock (Take-on tab) menu (if you have accounting records from your previous accounting system); and / or

2.Purchase documents need to be updated (posted) to the ledger in the Input → Update ledger menu.

This will ensure that the Stock Item master files are updated with the correct values (quantities and cost prices) and when Invoices are processed, the correct cost prices (average or latest cost) will be used for the Cost of sales batch (journal).


If you are processing documents, the documents will update the Stock item master files as follows: 

1.Purchases - Increases the quantity on hand, the total cost, cost price (average or latest cost - depending on your settings and selection on the Setup → System Parameters → Stock information menu). When you update (post) the Purchase document (Goods received note) to the ledger, it will automatically write up the Purchase journal.

2.Supplier returns documents - The Stock Information will be updated exactly the opposite to that of the Purchase documents (Goods received notes). When you update (post) the Supplier returns document to the ledger, it will automatically write up the Purchase batch (journal) or any other Purchase returns or Creditor allowances journal.

3.Invoices - If you select a stock item, you need to enter the quantity and select the selling price (selling price 1/2/3 will be used). TurboCASH will automatically calculate the invoice line-item total (selling price multiplied by the quantity sold). It will decrease the quantity on hand, and adjust the cost of sales (average or latest cost depending on your settings and selection on the Setup → System Parameters → Stock Information menu). 

When you update (post) the Invoice document to the ledger, it will automatically write up the Sales journal for the selling prices. It will also use the cost prices and write up the Cost of sales batch (journal) for the cost prices (average or latest cost) you selected when you set the Cost of sales parameters in the Setup → System Parameters → Stock information menu.

4.Credit Notes - The Stock Information will be updated exactly the opposite to that of the Invoice. When you update (post) the Credit Note to the ledger, it will automatically write up the sales journal and the cost of sales journal with transactions to reverse those created by the Invoice.