Stock Take System Introduction

> Stock Take System Introduction

Stock Take System Introduction

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.


Although you can continue processing transactions while the stock take is in progress (i.e. performing a stock take does not disrupt 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.

Although you can continue processing transactions while the stock take is in progress (i.e. performing a stock take does not disrupt 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.

You can capture stock count details using any of the following methods:

by stock code
by bin location
by stock take ticket number
by importing a stock count file

Processing a stock take

The following steps indicate the procedure you must 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 stores have been invoiced. No issues/receipts should be allowed in the warehouse until after the count has been performed.
Select the items that you are going to count using the Stock Take Selection program.
Print the tickets or labels required for the selected stock items using the Stock Take Tickets program.
Print a stock take report to manually enter the quantity of each item counted using the Stock Take Forms program.
Perform the physical count in the warehouse. Up until this point, no sales/inventory transaction processing should take place for items which have been selected for the stock take.
Once the physical count has been performed, sales/inventory transactions may continue while the physical quantities are being captured using the Inventory Stock Take Capture program.
During the stock take process you can print various reports to compare the counted quantities to the quantities on hand. These include:
Confirm details of the stock take capture process and update the live inventory file with captured quantities using the Stock Take Confirmation program.