Australia When to update stock cards?

[joyson]

I am new to accounting my problem is when to update stock cards?
do i have to update my stock card on the day when i received orders or the day when i deliver the items?
For example I received order today and I plan to deliver 5 days later so when to update my stock card today or 5 day later?

 

[ChrisF]

Depends on your company policy but a high stock turn rate could mean you don't have enough stock on hand to supply customer needs. Therefor, updating the stock card on receipt of an order would be beneficial to determine the stock/goods sold and stock/goods on hand. Dividing the stock sold by stock on hand to determine your stock run rate for re-ordering. I hope this helps Joyson.