Purchase & store glossary
Store Ledger: Meaning, Format & Example
Store ledger, in short
A store ledger is the running record of every receipt and issue of an item, with the balance quantity and value after each transaction. It is kept item by item and shows how much of each item you hold and what it is worth at any time.
Also called: Stock ledger, Stores ledger, Stock register
If the GRN is how material comes in and the issue slip is how it goes out, the store ledger is where both are totalled.
Store ledger format
One page (or one sheet) per item, with columns:
| Date | Ref no. | Received qty | Rate | Issued qty | Balance qty | Balance value |
|---|
The reference is the GRN number for receipts and the issue slip number for issues.
Worked example
Bearing 6210 ZZ, opening balance 40 nos at ₹5,435 = ₹2,17,400.
| Date | Ref | Received | Rate | Issued | Balance qty | Balance value |
|---|---|---|---|---|---|---|
| 1 Sep | Opening | 40 | ₹2,17,400 | |||
| 5 Sep | GRN 0412 | 950 | ₹5,652 | 990 | ₹55,86,800 | |
| 8 Sep | Issue 1180 | 30 | 960 | ₹54,17,503 |
Here issues are valued at weighted average cost. (Illustrative figures.)
Store ledger vs bin card
- A bin card sits on the rack and records quantity only. The storekeeper updates it.
- The store ledger records quantity and value. Accounts or the store office maintains it.
The two should agree. When they don't, a physical count decides.
Why manual ledgers drift
Entries are posted days late. Receipts without a GRN or issues without a slip never get posted. A spilled cup of tea or a missing page wipes out history. At year-end, physical stock and ledger balance differ, and nobody can say why.
What a clean ledger gives you
- Stock value at any moment, not just at audit
- The last purchase rate for every item, to check new POs against
- Consumption history to set reorder levels
- Last issue date, to find dead stock
How IndustryPrime handles it
Every GRN, issue, return, stock adjustment and stock transfer posts to the item's record instantly, so live quantity and value are always current. Issues are valued at FIFO cost (first in, first out), not the weighted average used in the example above. All registers are included. See inventory management software and store and purchase management software.