Finmap is a tool that allows you to keep track of your finances, and there is not yet a specific functionality for keeping track of your warehouse/stock.
However, if you already need to keep stock records within one programme, this tutorial will help you understand where and how you can display the stock in Finmap.
1️⃣ Create a ‘Warehouse’ account – on the left-hand side of the “My Accounts” panel, click ‘Create Account’. Enter the name of the account and then click “Add account”. Well done!
2️⃣ Create an “Stock Goods” expense category. At the top, click on “Settings” and select “Expense categories”.
The first operation is the purchase of goods. Let’s create an expense from the required account and specify the category of expenses “Goods to warehouse”. Also, add the “Cost of goods” tag and finish your expense transaction. Done!
4️⃣ The next step is to create an income for the Warehouse account – this is our purchased goods in cash. We add the tag “goods to warehouse”.
5️⃣ Next step – let’s display the situation when the goods are being sold from the warehouse, i.e. there has been a write-off of the cost price from the “Warehouse of Goods” account.
Create an expense for the required amount and specify the tag “write off the cost price”.
6️⃣ Now we need to create an income with a markup on the account to which we receive money from the customer. We also specify a category in the revenue transaction, such as “Receipts from client” and the counterparty.
We have created a cycle of transactions that we need to specify when you are keeping a warehouse in cash in the Finmap service.
Let’s look at the data we can see in ‘Analytics’.
7️⃣ In the Money report (e.g. in tabular form), we set a filter in which we remove the tags “write off cost price” and “goods to warehous” from the list of tags.
By setting such a filter, we’ll see that there was a purchase of goods for 10000 USD, and we’ll also see that there was an income from the client for 6500 USD.
At your convenience, you can save this data filtering by creating your custom filter. To do this, click on “Save Filter” in the advanced filters.
and specify its name, for example, “Warehouse for Money”. The next time you want to view this information, select the filter you have created from the list of saved filters.
8️⃣ In the “Profit report”, set the following filter – remove the tags “cost of goods” and “goods to warehous” from the list of tags. We can also save this filter for later viewing of the information we need. Let’s call this filter “Warehouse for Profit”, for example.
Using this filter, you can keep track of your stock write-offs, customer charges and your profits.
9️⃣ Please note that for the funds in the Warehouse account (cash equivalent of goods) not to affect the “Total on accounts”, you can hide it in the “Edit Accounts” menu
