If you sell physical products, Finocket tracks how many you have: turn on stock tracking for a product and every sale draws it down automatically, purchases and adjustments add it back, low stock flags itself — with batches, expiry dates and godown-wise locations when you need them.
Turn on stock tracking
Open a product under Products (its type must be Product, not Service) and switch on Track inventory. Give it an opening stock (how many you hold now, and the as-of date), an opening cost per unit (used for valuation), and a reorder level — the quantity at which it should flag low (leave 0 for no alert).
How stock moves
Sales are automatic: a tax invoice or bill of supply with a tracked product draws that quantity out; a credit note (sales return) puts it back. Estimates and challans don't move stock — only a real sale does.
For stock coming in, record the purchase: when you add an expense, open the Stock items section and add the products, quantities and cost — Finocket adds them to stock at that cost, keeping valuation accurate. For a one-off correction or physical count, use Add / adjust stock on the Inventory screen: Stock received for a purchase, Adjustment to add or remove with a reason, Transfer to move between godowns.
Every product has a full movement ledger — opening balance, each sale, return, purchase, adjustment and transfer — so you can always see how a balance got where it is.
What your stock is worth
Each product carries a weighted-average cost by default: stock added at a cost blends into the running average, and stock going out is valued at that average (never the sale price). The Inventory screen shows a value per product and the total stock value, recomputed as you buy and sell.
FIFO valuation (choose per product)
On a stock-tracked product you can switch Valuation method to FIFO (first-in, first-out): each sale is costed against your oldest stock first, so what's left on hand is valued at your most recent purchase costs. Weighted average blends every cost together instead. It's a per-product choice — existing products stay on weighted average until you switch one, and nothing you've already recorded changes. Both methods are computed to the paisa from your movement ledger, and your Profit & Loss and Balance Sheet value closing stock by each product's chosen method.
Serial-number tracking
For high-value goods like electronics or appliances, switch on Track serial numbers for the product. Enter a serial for each unit when stock comes in, and pick the exact serials when stock goes out. Each serial walks a simple lifecycle — in stock → sold → returned — and a serial that has been sold can never be sold again, so your unit-level records stay honest.
Batches & expiry dates
For goods with a shelf life, add a batch with its number and expiry date, then tag received stock to it. The Inventory screen shows an Expiring soon alert listing batches near or past expiry with the quantity still on hand — clear or return them in time.
Godown-wise stock
Add a godown for each warehouse or location and tag movements to one, so you can see what's where. To move goods, use Transfer: pick the product, from- and to-godown and quantity — Finocket records a matched pair of movements, so total on hand is unchanged; only the split moves.
Access & control
Owners and assistants manage products, movements, batches and godowns; an invited accountant sees stock levels, valuation and ledgers read-only. Inventory is a module — turn it on under Profile → Modules.
Related: Sales & purchase orders, Closing stock & COGS.