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I own a tractor parts shop in a small town. Recently there is burglary happened in a shop near my shop. So I am looking forward to insure my shop. I am looking for Fire, Theft insurance for my shop. Just wondering, how to calculate and make the list of the stock in my shop. Any pointers would be great help for me.
Making manual list is bit difficult. Do you use computer billing?
Nope. It is a small shop. So at the moment we are using manual billing and some stuffs are even sold without bills.Quote:
Originally Posted by Harish Rawat
How do you keep record of your total stock? Some manual stock register? Do you reconcile stock at the end of the year that this much sold and this much in the shop?Quote:
Originally Posted by Aakash
No reconciliation. For small parts, we dont care much, as and when the stock is over, we order for more. For big and costly parts, we only order as and when it is required by some customer.Quote:
Originally Posted by Harish Rawat
Than I would suggest maintain a stock register. And for policy purpose, make a list of costly parts – big and for small parts just gave a sum insured and mention the parts name in the proposal. I always advocate to give as much as info at the time of proposal, so that in claim there would not be a problem for you.