Would you like to run your Stocktake as seamlessly as possible? Having a good understanding how the Stocktake system works will put you in a better position to run your Stocktake smoothly.
The system takes 2 snapshots of the Stock on Hand through the Stocktake Process, the first being when the activate Stocktake button is pressed and the second being when the Update Stock on Hand button is pressed.
The system calculates the difference between the book amount (the first snapshot) and the counted amount to get to a Variance. An adjustment is made with this variance to the current Stock on Hand (the second snapshot). It is important to remember the Product will not be updated to the count quantity entered, it will calculate the variance between the first snapshot and the counted amount and create a stock movement of the difference between those figures.
A Stocktake can remain open whilst trading, however, it is important to be mindful that Products that are yet to have a count entered be isolated. This is to ensure the variance calculation is correct therefore your Stocktake correct. Once a Product has been counted and any variance for this Product checked it can then continue to be sold whilst the Stocktake is open.
Example of a Stocktake Calculation: A Stocktake has been activated with a Product having Stock on Hand of 10. The counter has physically counted and entered a count of 14 for this Product. After the count was entered but prior to the Stocktake being completed two sales were made.
The points below will outline how the system calculates the new Stock on Hand figure in the given scenario.
- After these two sales the system will have a Current SOH of 8 (10 originally less the 2)
- The Variance is the counted amount of 14 less the first snapshot of 10 = 4
- Current SOH is 8 plus the variance of 4 = 12
- The adjustment of 4 is made and the Stock on hand will be updated to 12
Stocktake Tip: Once you have pressed Update Stock on Hand, ensure you thoroughly read the Stocktake Confirmation screen pop up before pressing continue as this contains important information on the Stock Movements that are going to take place.
Please contact the Training team if you have any Stocktake questions.