Stocktake

Overview:

Workbench stocktaking revolves around the preparation of a Stocktake at your desired interval. This takes a snapshot of the relevant stocktake detail according to your selection criteria. This becomes the basis for comparison to actual stock counted and Stock Adjustments are facilitated at the end of the process.

An example process is as follows:

  • Prepare for Stocktake
    Takes a snapshot of the relevant stocktake detail according to your selection criteria. This becomes the basis for comparison to actual stock counted and any adjustment required.
    - Create / edit a Stocktake - Main tab
    - Prepare the lines using Stocktake - Prepare tab

  • Print Stocktake count sheets (if required)
    The Prepare for Stocktake allocates a page and a line number to each item in the count. So you can always print another page and be assured of getting an exact copy. The ctrl param 'Stocktake Sheet Lines' dictates the number of lines per page.
    - Print the Stocktake sheets with Stocktake - Print

  • Count - Perform the count and write down the results

  • Enter count - Capture the written record of the counts on the Stocktake Lines tab

  • Print variance reports and Stock Valuation - Print from a selection of Valuation, All Counts, and Exceptions

  • Review

  • Process Stocktake Adjustments

  • Generate Stock Count Adjustment for quantities
    Generates a transaction and updates the Stock for quantities only.  The quantity adjustment will use the Value from the snapshot for the adjustment
    - Stocktake Adjustments tab > Batch Adjustments

  • Process Stock Value Adjustment for Values.

  • Print Valuation reports

Screen Guide:

Stocktake List

The first screen lists existing stocktakes, sorted by Number. Clicking on that number will open the Stocktake details, and to create the next one click the + New Stocktake button.

Main Tab

The main tab begins the stocktake process by selecting the date, title, and location of the stocktake being done.

  • Number is automatically generated sequentially from the last stocktake done.

  • Preparation Date is the date the stocktake was created.

  • Stocktake Date is the user-entered date that the stocktake was done.

  • Title is the description of what this stocktake represents.

  • Comments are optional to note any significant discoveries during the stocktake.

  • Prepared By is the User that ultimately prepared the stocktake and is accountable for its contents.

  • Status begins with Open, and can be manually changed to Closed or Cancelled, while performing the Adjustments tab step will automatically change the status to Updated, indicating that it is complete and actioned.

  • Location is the Stock Location that you are performing the stocktake in. Each location must have its own stocktake performed.

Prepare Tab

This tab gives you filtering options for what to include in the stocktake on the Lines Tab.

Prepare Lines provides several filters to prepare the Stock Items for a stocktake count. Refresh Existing On Hand Quantities can be set to Yes or No, which determines whether the stocktake will refresh the Lines Tab with current stock levels. This is useful if there is a delay between when the stocktake is created/prepared and when the actual stocktake is completed. Click the Prepare Lines button to bring the filtered lines into the Lines Tab.

Append Lines gives the ability to add more Stock Items to the stocktake in cases where stock was not available in that location before. Click Append Lines to bring the stock item into the Lines Tab.

Lines Tab

This tab is populated by using the Prepare Lines function on the Prepare Tab. Use the Print menu to print out the Count sheet to do a written calculation, then add the numbers back in the Count column for each line. Calculated Count is the system generated number of how many of each item there should be based on the recorded transactions.

If additional unlisted items are found, they can be added using the Append Lines function on the Prepare Tab. If a stock item is found that is not in Workbench, it must be added in Stock Items first.

Adjustments Tab

Once the stocktake counting is completed, there may be discrepancies between the calculated count and the physical count. Adjustments can be made to reconcile these numbers. There is a reconciliation report available in the Print menu.

To commit the adjustments, create a + New Batch if one does not already exist, then click Batch Adjustments. This automatically creates a Stock Adjustments Batch Entry based on the Lines Tab and reconciles the differences. To view the output, navigate to Stock Adjustments.

After adjusting, the stocktake's Status is changed to Updated.

Next Steps:

Remember to close out each period's stock in Month End Wizard once calculations are finalised and you are ready to close the Stock Period.



FAQs:

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Process Flow: