Difference between Bin Card & Stores Ledger

Bin Card

A bin card is a quantitative type of record of receipts, issues and closing balances of items of stores. Each item is attended by a separate bin card. The bin card is posted when a transaction takes place.  After the transaction is recorded, the items are received or issued.

Stores Ledger

The store ledger is maintained to record all receipt and issue transactions in respect of materials.  The quantities and the values are entered in the receipts, issues and balance columns. Separate sheets for each item or continuous stores ledger may be maintained whereas transaction may be posted periodically and in total. The sheets should be serially numbered to prevent the risk of removal or loss.

Bin Card  Stores Ledger 
It is a record of quantity. It is a record of quantity and value.
It is kept inside the store. It is kept outside the store.
Store keeper maintains Bind card. It is maintained by accounts department.
Posting in bin card is done before the transaction take place. The posting is done after the transaction take place.
Each transaction is individually posted. Transaction may be posted periodically and in total.

Reconciliation of Bin card and store ledger

There should not be any difference present between the balances shown in the bin card and store ledger, but differences may arise due to the following reasons:

  • Due to arithmetical error.
  • Non posting of a voucher in either bin card or the store ledger.
  • Posting in the issue column where as not posted in the receipt column.
  • Posting in wrong bin card or stores ledger sheet.