Questions · Q5
Q.What is a Bin Card? How does it differ from a Stores Ledger?
ChseodishaTextbookSubjectiveImportance★★★★★est
6% · 5/78 Questions
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →A Bin Card is a quantitative record maintained by the store-keeper, kept physically along with the material — at the bin, rack or shelf where that item is stored — showing only the quantity of receipts, issues and the running balance of that item. No rupee values appear on it; it is written up the moment material physically moves in or out, so its balance should match the physical stock in the bin at any time.
It differs from the Stores Ledger as follows:
| Basis | Bin Card | Stores Ledger |
|---|---|---|
| Maintained by | Store-keeper | Costing/Accounts Department |
| Location | With the material (at the bin/rack) | In the accounts/costing office |
| Records | Quantity only | Quantity AND value (₹) |
| Pricing of issues | Not applicable | Issues priced under a chosen method (FIFO/Weighted Average) |
| Entries made | Immediately, as material moves | Somewhat later, from GRNs and requisition notes |
| Purpose | Physical quantity control at the store | Cost ascertainment and material accounting |
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.