With references What do you understand by bin card and stores ledger?

A bin card is a document used in inventory management to track the quantity of goods or materials stored in a specific bin or location. It provides a detailed record of the inflow and outflow of items from that particular bin. The bin card typically includes information such as the item description, stock code, unit of measurement, opening balance, receipts, issues, and closing balance. It helps in maintaining accurate stock levels, identifying discrepancies, and facilitating efficient stock replenishment.

On the other hand, a stores ledger is a comprehensive record-keeping system that tracks all the transactions related to the receipt, storage, and issuance of goods or materials in a store or warehouse. It serves as a central repository of information about the inventory, providing details about the stock levels, stock movements, and stock valuation. The stores ledger includes various sub-ledgers or registers, such as bin cards, purchase ledger, sales ledger, stock ledger, etc., to maintain a complete and accurate record of all inventory-related activities. It helps in monitoring stock levels, analyzing stock movements, managing reordering, and ensuring proper control over the inventory.