Features
Stock that keeps the books right
SwiftlyBooks tracks the stock of the items you choose at each branch. A bill brings goods in at cost, a sale takes them out with its cost of sales in the same entry, and the stock register agrees with the Inventory account to the cent.
- Average cost, or first in, first out, in your base currency, whatever currency the goods were bought in.
- Cost of sales posted with each invoice or cash receipt, in the same balanced entry.
- Counts that hide what the books expect until the count is done, then draft the adjustment.
- Adjustments for damage, loss or a recount, approved before they post.
- Inter-branch transfers (IBTs): a branch asks another for stock, the other approves and sends it with a transfer note, in one step or two, and goods short on arrival are written off at their cost.
- On the phone app: count what is on the shelf at your branch, and take in what another branch sent.
- A reorder level for each item at each branch, an alert when it falls below, and purchase orders drafted to each item's last supplier.
- Freight, duty and clearing added to the goods on a bill, shared by value or by quantity.
- Selling more than a branch holds is refused, unless you allow it in Settings.
- In Zambia, each stock movement goes to ZRA with your Smart Invoice records.
| Movement | Stock | The books |
|---|---|---|
| A bill or expense for goods | In, at cost | Inventory |
| An invoice or cash receipt | Out, at average or first-in cost | Cost of sales, from Inventory |
| A count or adjustment | In or out | Stock adjustments |
| An IBT between branches | Out of one, then into the other | Stock in transit, until it arrives |
| Freight or duty on goods | The same goods, at a higher cost | Inventory, or cost of sales for goods sold |
Common questions
Do I have to track stock for every item?
No. You choose the items whose stock is tracked. Services, and items you do not track, work as before.
Which costing method does it use?
Average cost unless you choose first in, first out in Settings. Last in, first out is not offered: IFRS for SMEs does not allow it.
How do I start?
Switch stock on in Settings, then choose the items to track and count what each branch holds. Every plan includes stock, budgets and fixed assets.