How to use MYOB for inventory control and stock taking?

Question

I have used MYOB for a long time. However, I always work in the service sector which has nothing to do with stock control. I have found a new job and I am going to be the bookkeeper of a warehouse. Would any MYOB user help me with the following questions?

1) I have no problems with inventory setting up. However, once it is set up do we still have to go into the inventory register for stock taking or stock counting? Bearing in mind that every time we purchase and sell on the relevant registers, stocks in hand are automatically adjusted, so what else do we have to do as far as the inventory register is concerned?

2) There shouldn't be any MYOB software especially for warehouse, so isn't it true that if I can handle MYOB for office, I should also be able to use MYOB for warehouse?

3) Without much experience in this respect, is there anything that I should be aware of?

Answer 1

1. This will depend on whether you set up inventory as perpetual or periodic.  You will still need to do stock takes, and make adjustments for the stock take figures (giveaways, obsolecence, damaged goods, etc.)

2. MYOB Accounting is fine for a single warehouse, if you move to more than one location, it will get more cumbersome to track.  MYOB Enterprise allows for a location feature.

3. You can purchase an MYOB Inventory manual for about $35.