What is a bin card?
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prepare a bin card in relation to cost accounting
bin card is written documentary of inventories usage of day to day supplier and purchase records
No stock ledger and bin card are not same because it does not hold all details of the product as in ledger. The bin card holds details of the quantity, date of receiving product, issue, quantity after and before issue etc M.Sai Kumar
A bin card is being used to keep a record of upcoming stocks from the godown and the outcome of new stocks and expiry date and renewal of a new product.
Following are the main differences between bin card and store ledger.1.UserBin card is maintained by the storekeeper. Store ledger is prepared by cost accounting department.2. NatureBin card is a record of quantity only. Store ledger is a record of quantities and values.3. PeriodIn bin card, entries are made immediately after each transaction. In store ledger, entries are made periodically.4. PostingPostings are made before a transaction in bin card. Posting are made after a transaction in store ledger.5. Using DepartmentBin card is kept inside the store. Store ledger is kept outside the store