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How NGOs can maintain Stock Register – NGO Financial Management Policy

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A stock register is a records of goods purchased and/or stored. Usually there is a set format for this register and there are certain protocols to be followed while maintaining this register. Below are the guidelines that can be mentioned in the financial management policy:

Stock Book Register

12.6 Maintaining a Stock Register

a) This is to be maintained at the office where the goods are purchase or stored centrally.

b) The format of the central stock register is enclosed.

c) This register shall be updated on the receipts column as and when fresh stocks arrive. It is important that the person responsible for the stocks initials the quantity in the stock book.

d) All requisitions must be numbered and in duplicate. One copy has to be maintained at the central store and the duplicate given to the accounts.

e) All  issues  shall  be  recorded  immediately  in  the  stock  register  and  this must be update on a daily basis.

f) The  stock  registers  should  be  maintained  on  a  FIFO(first  in  first  out basis).”