Stock Statement Format for Construction Project

Stock Statement Format for Construction Project

Construction of Project involves purchasing of many materials stated in the specification which are finalize before starting of Project.
The common material used at construction projects normally includes Cement, Sand, Aggregates, Reinforcement steel, shuttering Formwork Material etc.

To complete the project withing time with desired quality in budgeted cost, keeping a record of materials receipts, consumption and reconciliation is important activity, if not done correctly can incur huge losses to company.

Stock Statement is created and submitted to top management of the construction company for reviewing of stocks and consumption in order to control the cost of the project and to understand any kind of mishandling or mischief happened.

Keeping a track of stock statement ensure the wastage of material happens within stipulated limits and there is no dead inventory of any material which again can hamper the progress of construction.

Stock statement of materials involves;
recording the recipients of each material which received at construction project on daily basis and submission of reports daily, weekly, monthly and cumulative receipts format.
Recording of consumption of material is equally important as to recording of receipts of material. Consumption of material should be backed up with theoretical consumption calculations and actual material consumption to evaluate the wastage percentage and any losses due to over consumption.

When the figures of receipts and consumption's of materials available, the physical stock of materials need to be verified by actual measurements.

Once the all records are available, we can proceed to make a stock statement of construction materials. Stock statement tells about following;
Receipts of all construction materials, consumption and balance quantity of it.
The stock statement generally produced on weekly and monthly basis by physical verification of balance quantity of materials.
The stock statement of materials goes in cumulative fashion, means adding the total receipt and consumption of material from start of the project.

To run a construction project successfully on time with stipulated quality and as per budget stock statement is biggest tool which indicates the Project cost directly as the maximum cost incur in any kind of project is due to materials only.

Below i have attached a sample format for producing monthly stock statement which also includes sheets which shows receipts and consumption of various materials used at construction project.

You can use it at your project by modifying its content.
 

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  • FORMAT STOCK STATEMENT.xls
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