You use the Stock Take System to selectively count the number of items you have on hand in your Inventory system and to update the live inventory file with these captured quantities.
You can capture stock count details using any of the following methods:
This task outlines the procedures you should follow to perform a stock take in the Inventory system.
At the predetermined cut-off date, prior to running the Stock Take Selection program, ensure that all items which have been delivered from the warehouse have been invoiced and all items physically received into the warehouse have been receipted on the system. No issues/receipts should be allowed in the warehouse until after the count has been performed.
Use the Stock Take Selection program to select the items that you are going to count.
Use Stock Take Tickets program to print the tickets or labels required for the items selected in the Stock Take Selection program.
Use the Stock Take Forms program to print stock take form which will be used by the stock take counters to manually enter the quantity of each item counted.
Perform the physical count in the warehouse. Up until this point, no sales/inventory transaction processing should take place for items which were selected for the stock take in the Stock Take Tickets program.
Use the Stock Take Capture program to capture the physical quantities counted per the stock take forms. Sales/Inventory transactions may continue while the physical quantities are being captured.
Counted quantities may also be captured using the Stock Take Import program.
Use the Stock Take Variance program to print a report of differences between the quantities counted and the quantities which were on the system at the time the stock code selection was made (i.e. the quantities on hand when the Stock Take Selection program was run.)
Other reports which can be run during the stock take process are:
Resolve the variances listed on the Stock Take Variance report by typically:
Recounting the items with variances.
Printing the Uncaptured Stock Quantities report to ensure that all counted quantities were captured in the Stock Take Capture program.
Checking that the count quantities listed on the Stock Take Forms were correctly captured in the Stock Take Capture program.
Ensuring that the Sales/Inventory transactions processed into the system before the Stock Take Selection program was run are correct.
Once the variance on the Stock Take Variance report are accounted for and acceptable to management, use the Stock Take Confirmation program to confirm the stock take quantities counted and update the live inventory file with captured quantities.
Although you can continue processing transactions while the stock take is in progress (i.e. performing a stock take does not prevent the normal daily transaction processing in a company) this is not recommended.
It is important to note that when you process transactions whilst a stock take is in progress, the quantities captured using the Stock Take Selection program do not change. If items are physically issued or receipted, or their cost is changed, then the reconciliation of the Stock Take Variance report becomes more complicated.