How To Do Stock-taking

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Stock-taking is one of the most important operations in a business. With the help of Stock-taking, the initial condition of the location is set up and corrections concerning the actual stock quantity are entered. After performing Stock-taking, the new condition of the inventory availability is considered to coincide with the real quantity.

Contents

Basis of Stock-taking

The stock-taking operation is based upon comparison between two quantities – the quantity in the program and the physically counted quantity in the warehouse. Based upon the difference between the two quantities, a document with total sum, which can be positive when there is surplus or negative when there is shortage of certain materials, is formed.

Current Stock-taking

In practice, stock-taking is only performed according to the present moment. The quantity is compared with the counted one and the difference is immediately calculated. If the current stock availability changes, then the results of the stock-taking will not be correct, since the comparison will not reflect the current change. == Backward-date Stock-taking In practice, performing stock-taking concerning a date in the past is a chimeric task. The inability to calculate the stock difference correctly can be clearly seen from the next example:

  • On Monday morning, there are 10 items of Product 1;
  • On Monday noon, there are 7 items of Product 1, 3 items have been sold;
  • On Monday afternoon, there are 17 items of Product 1, 10 items have been purchased and delivered;
  • On Monday evening, there are 15 items of Product 1, 2 more have been sold.

At this moment, if we point out that 13 items have been counted on Monday, it is not clear which moment in time this count refers to. If it had been in the beginning of the day, then the difference is +3 (surplus), if it had been the end of the day, then the difference is -2 (shortage). Here, it is important to underline that this example does not refer to a particular software program – this is a practical real-life example.

Full Stock-taking

In the products of Microinvest, there is a special setting called “Full stock-taking”. Understanding its function is of paramount importance, because the function works according to the requirements for inventory- tracking in shops. With standard stock-taking, it is considered that only the differences in the stock quantities are outlined. If there is no difference in the quantity, the stock (product) is not involved in the operation. However, in this way, if a product in the warehouse is missing, than the operators do not count it, it is not involved in the operations and there is no-stock taking with this product. In certain cases, this is wrong, since the stock already exists as a quantity in the program product. Therefore, the “Full stock-taking” function is used in shops. It functions in the following way:

  • All products are counted
  • Only a single stock-taking operation is performed
  • A product or stock, which is not part of the document, is considered to be missing and its quantity is made zero.

Thus, only the counted stock quantities remain after such stock-taking.

Specific Features

When saving a document for the Stock-taking, only the differences in the quantities are recorded. This is a standard methodology, since the essence of the stock-taking is to reflect the differences in stock availability. If 10 000 product items and differences with 50 of them, it is reasonable to record the 50 different product items with their parameters, rather than the whole 10 000. Furthermore, a stock-taking session cannot be edited in the format it had been entered. The differences between the products and stock can be changed, but not the previous stock condition. The products of Microinvest allow for the stock-taking session to be performed in parts, i.e. separate stock-taking of separate product items to be done.

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