Stores Records The stores records are of two types: 1.

Perpetual Inventory Records: These records

show the movement of stores, i.e., the receipt of materials, issues of materials to production
department and also balance in stock. Bin card and stores ledger are the two basic perpetual
inventory records. 2. Documents: The documents are used to authorize movement of materials into
and out of stores. These documents include Goods Received Note, Bill of Materials, Materials
Requisition Note, Materials Return Note and Material Transfer Note. Bin Card (Stock Card) A bin is a
container in which material is kept. Separate bin cards are maintained by the storekeeper for each
item of material in store. The bin cards show the details of receipts and issues of materials and the
balance in stock at any time. This record is of immense help to the storekeeper in controlling the
stock position. A bin card is attached to the bin, drawer or any other container in which material is
stored. An entry is made at the time of each receipt or issue and the new balance in stock is
calculated. All these entries of receipts and issues are supported by documents, such as Goods
Received Note, Materials Return Note, Stores Requisition Note, etc. Alternatively, bin cards are kept
on a table in trays. A bin card is a quantitative record of receipts, issues and closing balances of
material items in store. It does not contain information about the prices of materials. Two Bin
System: In this system, two bins are maintained for each item of material. One bin constitutes the
main or the regular bin from which materials are issued and the other bin contains the minimum
stock from which issues are made only when stock in the regular bin is exhausted. At the time of
stock verification, it is usually sufficient to verify stock in the regular bin as the stock in the minimum
stock bin is already known. The idea of two bin system is to provide automatic information about
reaching minimum stock level so that issue of materials for regular production is stopped. At this
stage, materials are issued only for urgent orders till fresh supplies of materials are received