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Bin Card

A bin card also known as stock card records the receipt and issue of each kind of materials. When a supply of materials is received, it is recorded in the receipt column and any issue of materials is recorded in the issue column of the bin card. The balance of the materials is thus updated with each receipt or issue.

The bin card is placed at or attached to the bin, shelf, rack or any container where the stock item is kept. The bin cards are under the charge of the store keeper who records them after each store receipt and issue. The actual quantity of each store item must agree with its balance as stated on its bin card. The balance on the bin card must in turn agree with the balance of the same item as recorded in the store ledger card kept in the accounting department. The store ledger card records details of receipts and issues of each kind of materials so that the balances are up to date at any time.

The store keeper is responsible for any difference between the physical quantity of each stock item and its balance as shown on the bin card. The bin card is thus a form of continuous stock control which the store keeper uses to keep the balance of each stock item up to date.

On the bin card is recorded also the minimum stock level, maximum stock level and the ordering level. The ordering level is fixed between the minimum and maximum levels. It is the level at which the store-keeper prepares the purchase requisition and sends it to the purchases department for purchase of materials. The ordering level is determined by various factors such as the rate of consumption of the materials, economic order quantity and delivery time of the materials.


An example of a bin card

UPPER  &  DOWNER
BIN CARD
Bin No.
Bin Card No.
Description of Item
Maximum Stock Level
Item Code No.
Minimum Stock Level
General Ledger Folio
Reorder Level
Date
Receipts
Issues
Balance
Date of Checking
Remarks
Goods Ordered
Goods Received Note No.

Quantity

Stores Requisition Note No.
Quantity
Quantity
Date and No. of P/R
Date of Receipt of Goods Quantity







































Last Updated (Sunday, 31 October 2010 13:41)