Stock Take – Overview

The Stock Take process is used to compare and synchronise your actual stock levels (includes items on hold), determined by actually counting all the goods in your store, to the values recorded in your inventory records in BookMine. After a full stocktake is completed and finalised these values are synchronized to bring them back into agreement, the counted values replacing the stored values.

Items On Hold - You count everything on the premises whether it is on hand or on hold. BookMine distributes the counts correctly between the quantity on hand and the quantity on hold. After finalisation these values will reflect the actual values. The assumption is that the quantities stored for on hold are likely to be more accurate than the general quantities on hand.

Returns to Suppliers - Items in pending claims and claims that have not been approved yet are included in the quantity on hand in Bookmine. They should be counted during the stocktake.

NOTE: It is essential that all return claims, where the items have been approved for return by the supplier and already been packed up and sent back to the supplier, are flagged as resolved in Bookmine BEFORE starting the stocktake.

Items in a return claim are not subtracted from the quantity on hand until the claim is resolved (either bulk resolved, if all items are approved or resolved item by item). Failure to adhere to this will cause incorrect totals for overs and unders. Resolving such a claim AFTER finalising a stocktake, where the items had  been sent back to the supplier before the stocktake, would cause the quantity on hand to be negative and the Unders to be overstated!

Items on Layby - these items have already been removed from stock, ie are not included in the quantity on hand. They should not be counted during the stocktake. Layby items are considered to be sold on the day the layby is locked even though they remain on the premises until the last payment is processed.

Full vs Partial - You can elect to carry out a full stock take, involving all inventory items, or partial, involving items in one or more departments only. Typically a full stock take is carried out at the end of the financial year so that the total value of stock on hand can be accurately computed and so that your computer stock accurately reflects actual quantities on hand (includes on hold). Partial stock takes can be carried out at any time to check stock levels in specific departments.

Tip: LIVE StockTakes (see below) can be carried out in BookMine which means you can continue trading during the stock take. BookMine compensates for sales made during the counting.

Reporting

BookMine can produce numerous reports including unders (where number counted is less than stored value) and overs (where number counted is greater than stored value) and much other information that can help you get a better idea on your stock holdings. Accurate information saves time and frustration looking for items that no longer exist. It also avoids customers being disappointed when items cannot be found that the computer indicates are on hand.

At the end of a full Stock Take the values counted will (optionally) overwrite the live values stored in your inventory records to bring them into agreement with reality. (This is an optional step which is recommended if you have carried out a full stock take as opposed to a partial stock take on one or more departments).

Starting a new Stock Take

Live Stock Take– pros and cons

Recording item counts

Reporting - Viewing

Using a Data Logger to record counts

Importing counts from a CSV file

Locking and Unlocking a Stock Take

Finalising a Stock Take

Opening the Main Stock Take form

The stock take module can be accessed from the Main Switchboard – User Options – Admin Functions. A password is required to enter this area. Your administrator should have this. The password is a fixed value that InfoMining would have passed on to you at installation time.

Existing stock takes can be viewed and new Stock Takes started from here. Only one Stock Take can be ACTIVE at any time. All item counts are automatically added to the ACTIVE Stock Take. If an existing Stock Take is ACTIVE it must be LOCKED before a new one can be started.

When starting a new Stock Take make sure to name it so that you can subsequently identify it. The start date is automatically recorded and this may also help identification.