Stock Count allows you to record stock take details against all Product items. The system will automatically update the quantity on hand and its value and then create postings to the General Ledger to adjust the Stock Control account and the Cost of Sales figure.

Integration with the Sales and Purchasing Systems

The Stock system operates in conjunction with Purchase and Sales Ordering with Stock movements taking place at Delivery In or Delivery Out stage. This allows for the receipt of Items from Suppliers, issue of Items to Customers, and the updating of Quantity and Cost information for Items. 

If you do not use ordering, it can be used with the Purchase and Sales Ledgers. In this case, the Goods are received into Stock when a Purchase Item Invoice is processed and out of Stock when a Sales Item Invoice is processed.

Currency Considerations

The Stock Management System operates in Base Currency only. Stock is valued in base currency regardless of the Currency of the Supplier or Customer. When a Sales Order or Invoice is processed, the Base Currency Price is converted to the Customer Currency and presented as the default. For purchases, the Last Cost is presented in the Supplier currency as the default. However, you can still process Orders and Item Invoices from foreign currency Suppliers and sell to foreign currency Customers. 

Stock Take Considerations

Stock Take can be carried out at any time. The system is always up to date with little or no necessity for cumulative roll-ups or summarisations. However, if stock has been physically moved into or shipped out of Stock without the requisite Receipt/Issue system transactions being fully processed, then you will encounter mismatches between the system versus the physical count.

Before carrying out an Stock Take, you should ensure that transactions that impact On Hand Quantity are completed or, at the very least fully understood so that proper account of them can be taken when reviewing the Stock Count.

For Purchases, Stock is added to the On Hand Quantity:

See:

Managing Items‍ 

The Stock Take process

1. First you download a list of items for your stock count. You can use the filters below to extract based on selected criteria. For example, to export different lists of items by location if the physical count is being carried out in separate locations and by different individuals.
2. These can then be uploaded as part of an overall stock count. 
3. Then, download the stock count file and update it with the physical count of items along with any updates to average cost. 

Because the system is entirely transaction-based, the Stock Takes are facilitated on a rolling basis.

Stock Take Prerequisites:

• All inward and outward-bound Stock Movements system transactions are cleared.
• Physical movements from location to location have been fully recorded. If any such location movements are outstanding, make these Location Transfers in the Stock Adjustments program.

How to Create a Stock Count

1. Go to Items > Product Items > New Stock Take to open the Stock Count screen.
2. Complete the Export Stock List tab. 
   • In the Stock will be counted by field, enter the Name of the Stock Checker. You can use several Stock Checkers and allocate them specific Locations and/or Item Groups for future use. This name will be downloaded in the Excel file and available as an audit check in the stock count history.
   • Use the dropdown filters to select your parameters. Use Item Locations and Sub Locations if you need to carry out separate physical stock counts by location. These can then be uploaded as part of an overall stock count.
3. Click Export save the resulting file to your Deskto

Perform the Stock Take

Each Export consists of a single Excel Workbook Sheet with detailed information about the selected Products. 

If needed, hide any unwanted columns to create a printable version to give to each Stock Checker for manual counting. 

Record any:

• Differences between the Counted Stock and the System held quantity.
• Revisions you want to make to the Average Cost. 
• Notes against each line item which will be saved with the resultant stock movement transaction, for example, Damages, or Perished Stock.

Step One: Upload the Stock Count File

When the printed Stock Count Sheets have been returned, any variances in Quantity, Average Cost, and Notes need to be recorded on the previously saved Spreadsheet and then uploaded back into the system. You can import as many individual files as you wish into a single stock count.

1. In the Import Stock Count tab, change the Stock Count Date if necessary.This date will be assigned to all the stock movements and updates associated with file. You cannot enter a date that is earlier than the last stock count date.
2.  Enter a unique Reference number for the Stock Count. 
3. Click on Browse and select the Stock List file, then click Upload.  Repeat this action for as many Stock Count sheets as you require.

Step Two: Correct any Errors

If there are errors in the uploaded file, you will get an Upload Status of Failed. 

1. Click on the status symbol to get a detailed explanation.
2. Correct any errors in the saved spreadsheet.
3. Click on Delete for the spreadsheet with errors and upload the corrected version. You will receive a message if the file has been successfully processed.

Step Three: Resolve Outstanding Deliveries and Invoices

Click on the Outstanding Deliveries and Invoices link to download the reports. If there are Outstanding Deliveries and Invoices, process them now before posting the imported file into the System. 

If you use Sales and/or Purchase Order Processing:

Inventory movements take place at Delivery processing or if not, during Invoice processing. Consequently, the Outstanding Deliveries list reminds you that if the Items are delivered before the Stock Count date, the Stock Count Import Posting will overwrite the previously created Inventory Movements. Best practice is to amend the expected Delivery Dates on these Items.

For Unposted Invoice Items:

If invoice items are processed with a transaction date before the Stock Count Date, the subsequent Stock Count Import Posting will overwrite these Inventory movements. 

Therefore, you should do any of the following:

• Change the Transaction Date on these Items to be after the Stock Count Date.
• Adjust the relevant Stock Items afterwards using the Stock Adjustments program. See Managing Stock Adjustments for more details.
• Process some or all these Items. Delete the relevant Imported Stock Count Sheets. Make the necessary alterations to the saved Stock Count Worksheets and then re-import them as described earlier.

1. Clixk on Stock Count Summary Report and examine the resulting Excel file for correctness. It shows the impact of the imported stock count on on hand quantities and stock valuations. Save it for your records. 
    
2. Ensure that you have checked that you have no un-processed orders and /or un-posted invoices before proceeding. If you cannot process these orders and invoices immediately, re-date them to after the stock count date before proceeding with posting.
3. Click on Post and wait for the progress bar to complete.

Stock Count History

In the View History tab, you select any previous Stock Count from the Select Previous Stock Count dropdown and download all associated uploaded files. You cannot delete any previously uploaded Excel files.

The following items will not appear in the associated documents:

• Any items that were processed from the Outstanding Deliveries & Items Reports.
• Any stock whose levels were manually adjusted afterwards using the Stock Adjustments Programs.

It is best practice to adjust the Transaction Dates (which defaults to today’s date) and process these outstanding Orders and Invoices afterward. This way they will still be recoreded in the history.