This guide will describe best practice when performing a stocktaking. There are multiple ways to count your products and we recommend that you read through this guide before starting your stocktaking.
Good to know!
What is a stock value?
The stock value is calculated by a product's purchase price times the stock amount for that product.
Purchase price: 10 EUR excl vat
Number of products: 10
Stock value: 10 x 10 = 100 EUR excl vat
What is the purpose of a stocktaking?
A stocktaking is meant to establish your total stock value. As shown above, stock value = number of products x the purchase price for those products.
Different ways to stocktake
When you are ready to perform a stocktake on all (or some of) your products you are able to do this in a few different ways.
Backoffice - Stock > Stocktaking you can enter the amounts you have counted manually, as well as search for products and filter out the view.
Backoffice - Stock > Stocktaking. You can also import the counted products from an external document. You will need two columns; "sku" and "decimalquantity". sku is of course the sku for a product and decimalquantity should contain the amounts you have counted for each product. Go to Stocktaking and click "Import" and copy paste the data.
POS-app - You can add items to a stocktaking session directly within the Sitoo POS app. Go to Menu > Inventory > Stocktaking. Here you can add items with the scanner by scanning a product barcode, or search for a specific product and enter amounts. Once you have finished adding your products you can then send the amounts to your Backoffice stocktaking session.
Verify your counted products
When you have counted all products for the stocktaking, regardless of method, you will need to check the different statuses for your products in the Backoffice session.
- Log in to Backoffice > Stock (Choose the correct warehouse in the upper right corner if you have access to more than one warehouse)
- Click the blue button "Ongoing Stocktaking" and you will be presented with all the items and their amounts.
1. Check not counted products
Among the filter options in the banner, click 'All status' > Not counted.
Products present here have not been counted during this stocktaking session. If the stocktaking is meant to count all of your products, make sure that you have not missed any by checking this section. Moreover, if you wish to assign a 0 amount to products that have not been counted you will need to enter a 0 for each of the products present here.
2. Check differences
Among the filter options in the banner, click 'All status' > Diff.
Diff means that you have counted more products than was registered in the stock, or fewer than were registered before the stocktaking started. If you complete the stocktaking without adjusting this you will affect the stock value total accordingly (lower it with a minus diff and increase it with a plus diff).
It is strongly recommended that you recount these products to make sure that the amounts are correct and not the result of a human error in counting them.
3. Check modified products
Among the filter options in the banner, click 'All status' > Modified
This status means that products have been modified after they have been counted in the stocktaking session. This occurs when a counted product is sold or delivered in/out.
Before finishing the stocktake it is strongly recommended that you click on the "Adjust transactions" button. What this button does is it will adjust the counted column based on transactions that have been made during the active stocktake session.
You count 10 of a product.
This product is then sold after you have entered 10 of them in the stocktake session.
The product will be given the Modified status but will still have 10 in the counted column.
When you click on the Adjust Transactions button the amount in the counted column will now be adjusted to 9.
Note that Adjust Transactions should be done once and just before finishing. It does not need to be done every transaction as it will adjust all transactions that have been made since you started the stocktaking session i Backoffice.
4. Finish stocktaking
When you have counted all your products and inspected the different statuses you are now ready to finish your stocktaking and update the stock and its value.
- It is strongly recommended that you export the stocktake list before you finish. To do this, click Export in the bottom right corner. This export can only be done before finishing the stocktaking and is great to have in order to do a follow up on what exactly was counted.
- Click the "Finish stocktaking" button when you are finished with everything.
- If you wish, you can leave a comment here.
- Tick the checkbox to approve the stocktake.
- Click OK to save and quit the stocktaking.
If you click "Cancel" you will be returned to the stocktaking view. To start over completely if you initiated it by mistake you can click Finish Stocktaking > Finish without saving. No changes will be made to the stock so be cautious about using this button and only use it if you have accidentally started a stocktaking session.