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Introduction to the Stocktaking Register

From time to time, you should carry out a stocktake, to check that the quantities of Items that you have in physical stock match the stock levels recorded in your Standard ERP database. When you need to do this, it is recommended that you use the following procedure:
  1. Print a stock list using the Stocktaking List report. This contains spaces where you can write in the quantities of each Item that you have in physical stock that you count during the stocktake.

  2. Once you have carried out the stocktake, you should enter the results in a new record in the Stocktaking register. If you have more than one Location, create a separate record for each Location. You can enter these records yourself directly to the Stocktaking register or, to minimise the typing load, you can use the 'Create Stocktaking Records' Maintenance function. This will create separate records in the Stocktaking register for each Location, containing the current stock figures as stored in your Standard ERP database. Each Stocktaking record can contain up to 200 rows. If you need to record more than 200 Items, enter more than one Stocktaking record with the same date. Similarly, if you have different members of staff carrying out stocktakes in different parts of a warehouse, they can each enter their own Stocktaking records with the same date.

    It is recommended that you use the 'Create Stocktaking Records' function. This will copy the stock level of each Item currently in your Standard ERP database to the new Stocktaking record, thus recording stock levels at the particular point in time when the record was created. This will make comparisons between stock levels and the quantities that you count during the stocktake more accurate, reducing the need to delay the processing of stock transactions until the stocktaking process has been completed or to adjust the comparison to take later stock transactions into account.

  3. Enter the results of your stocktake in the Counted column in the matrix in the new Stocktaking record(s).

  4. When you are sure the Stocktaking record(s) are complete and correct, mark them as OK and save.

  5. Print out the Stocktaking Comparison report. This will compare the Counted and In Stock figures in the Stocktaking record(s) you have just entered. If the Stocktaking record does not contain In Stock figures (because you did not create it using the 'Create Stocktaking Records' function), the report will compare the Counted figures in the Stocktaking record(s) with the curent stock figures in the database as they were at the end of the same day. Note: the report will not be correct if you have not yet marked the Stocktaking record(s) as OK.

  6. Once you have checked the report and confirmed it to be correct, you can enter any discrepancies to the Stock Depreciation, Goods Receipt or Stock Movement registers, depending on the reason for the discrepancy. If a particular Item is found in a different Location to that in which it is recorded as being stored, you can move it using a Stock Movement. You can correct a quantity discrepancy using a Stock Depreciation transaction or a Goods Receipt. Again, you can enter these records yourself or you can use the 'Stocktaking Comparison' Maintenance function. This will create appropriate Stock Depreciation transactions and Goods Receipts which you can then check and mark as OK.
It is recommended that you do not enter any new stock transactions during this process (especially from step 4 onwards), particularly if you did not use the 'Create Stocktaking Records' function. If this is unavoidable, make sure that the Counted quantities in steps 2 and 3 take the new stock transactions into account.

To open the Stocktaking register, first ensure you are in the Stock module. Then, if you are using Windows or Mac OS X, click the [Registers] button in the Navigation Centre and then double-click 'Stocktaking' in the resulting list. If you are using iOS or Android, tap the [Registers] button in the Navigation Centre and then tap 'Stocktaking' in the 'Registers' list. The 'Stocktaking: Browse' window will open, listing Stocktaking records previously entered.
Select 'New' from the Create menu (Windows/Mac OS X) or the + menu (iOS/Android) to enter a new record. The 'Stocktaking: New' window will appear. Complete the Stocktaking record as appropriate and as described below the picture, then save it using the [Save] button (Windows/Mac OS X) or by tapping √ (iOS/Android). You can then close it using the close box (Windows/Mac OS X) or by tapping < (iOS/Android). Then, close the browse window using the close box or < again.

No.
Paste Special    Select from another Number Series
The unique identifying number of the Stocktaking record. The default will be the chosen as follows:
  1. It will be taken from the first valid number sequence in the Number Series - Stocktaking setting.

  2. It will be the next number following on from the last Stocktaking record entered.
You can change the default, but not to a number that has already been used. If you have defined at least one number sequence in the Number Series - Stocktaking setting, the number you change to must be inside a valid number sequence.

You will not be able to save a Stocktaking record if the No. does not belong to a valid number sequence. A valid number sequence is one for the period in which the Transaction Date of the Stocktaking record falls and with unused numbers, so this problem will most usually occur at the beginning of a new calendar or financial year.

If you are working in a multi-user environment, the Stocktaking Number will be assigned when you save the record for the first time, chosen as described above and providing you have not already specified a number yourself.

Trans. Date
Paste Special    Choose date
Enter the date on which the stocktake was carried out.

You can enter more than one Stocktaking record with the same date. This can be useful if you have more than 200 different Items in stock (a single Stocktaking record has 200 rows). It also allows the stocktaking task to be divided between different members of staff as they will be able to record their results in separate Stocktaking records.

Do not change the Date in a Stocktaking record that you created using the 'Create Stocktaking Records' Maintenance function. In such a record, the In Stock field in each row will contain the quantity of each Item in stock at the moment the record was created. If you change this Date, the figures in the In Stock field will not be changed and so they will no longer be correct. The consequence will be that the 'Stocktaking Comparison' Maintenance function will create incorrect Goods Receipts or Stock Depreciation records, because the stock level figures it uses to compare with the Counted quantities will not be correct.

OK
Tick this box when you have confirmed that the Stocktaking record is complete and correct. After saving the Stocktaking record, you will no longer be able to change it.
Marking a Stocktaking record as OK has no effect on stock levels or on the stock valuation in the Nominal Ledger. However, you must mark a Stocktaking record as OK to make it available to the Stocktaking Comparison report, which is the next step in the stocktaking process. This report will compare the counted stock levels in the Stocktaking record with the stock levels recorded in your Standard ERP database. You can then rectify any discrepancies using Stock Depreciations, Goods Receipts or Stock Movements, which will bring stock levels and the stock valuation in the Nominal Ledger into line with the results of the stocktake. You can create these records either by entering them directly or using the 'Stocktaking Comparison' Maintenance function.

Location
Paste Special    Locations setting, Stock module
If you have various stock Locations and have carried out a stocktake for each, you should then enter separate Stocktaking records for each one. Specify the Location here.

You can specify a Location in any of the Stocktaking rows, to override the one entered here.

It is recommended that you only leave this field blank if you are not using Locations at all. If you have specified a Main Location in the Stock Settings setting, you should not leave this field blank as you would elsewhere in the Stock module when you want to use the default Location. Instead, you should enter the Main Location here.

If you are using the Require Location option in the Stock Settings setting, you must enter a Location before you can save the Stocktaking record.

A default Location can be brought in from the 'Sales' card of the user's Person record or from the Local Machine setting in the User Settings module. The Local Machine setting is specific to the client machine you are working on..

Do not change the Location in a Stocktaking record that you created using the 'Create Stocktaking Records' Maintenance function. In such a record, the In Stock field in each row will contain the quantity of each Item in stock in this Location. If you change this Location, the figures in the In Stock field will not be changed and so they will no longer be correct. The consequence will be that the 'Stocktaking Comparison' Maintenance function will create incorrect Goods Receipts or Stock Depreciation records, because the stock level figures it uses to compare with the Counted quantities will not be correct.
Use the grid area that occupies most of the screen to list the Items you have in stock, together with Quantities and Serial Numbers. This grid is divided into three horizontal flips. When you click (Windows/Mac OS X) or tap (iOS/Android) on a flip tab (marked A-C), the two or three right-hand columns of the grid will be replaced.

If you are using Windows or Mac OS X, you can add rows by clicking in any field in the first blank row and entering appropriate text. To remove a row, click on the row number on the left of the row and press the Backspace key. To insert a row, click on the row number where the insertion is to be made and press Return.

You can also bring Items into a Stocktaking record by opening the 'Items: Browse' window, selecting a range of Items by clicking while holding down the Shift key, and then dragging them to the Item field in the first empty row. You can also copy a list of Item Numbers in a spreadsheet or word processor and paste them in the Item field in the first empty row. Finally, you can use the 'Item Search' function on the Operations menu to add Items to the Stocktaking record.

If you are using iOS or Android, you can add rows by tapping the + button below the matrix. To remove a row, long tap on the row number on the left of the row and select 'Delete Row' from the resulting menu. To insert a row, long tap on the row number where the insertion is to be made and select 'Insert Row' from the resulting menu.

Flip A

Item
Paste Special    Item register
Enter the Item Number, Alternative Code or Bar Code of each Item that you have in stock. You should only enter Stocked Items.

Counted
Enter the actual quantity of the Item in the Location, as recorded in the stocktake.

In Stock
If you created the Stocktaking record using the 'Create Stocktaking Records' Maintenance function, the current stock level of the Item in the Location as recorded in Standard ERP will be shown in this field. If you entered the Stocktaking record or you added the row yourself, this field will be empty.

The 'Stocktaking Comparison' Maintenance function will compare this In Stock figure with the Counted quantity. If the figures are different, it will create a Goods Receipt or Stock Depreciation, depending on the difference. If this In Stock figure is blank, the function will calculate the stock level of the Item on the relevant date, using the method that is also used by the Stock List report.

The purpose of this field is to record stock levels at a particular point in time (the time when the stocktake was carried out). This will make the comparison between stock levels and Counted quantities more accurate, without the need to delay the processing of stock transactions until the stocktaking process has been completed. As already mentioned, if this field is empty, the 'Stocktaking Comparison' function will calculate stock levels for the same day. But, if there were any stock transactions between the stocktake and the end of the day (e.g. Deliveries or Goods Receipts), the resulting stock level figure will not be correct for the time when the stocktake was carried out. The comparison between stock levels and Counted quantities will then not be accurate, so the 'Stocktaking Comparison' function will create incorrect Goods Receipts or Stock Depreciation records that you will need to check and adjust.

If this field contains a value, you should not change the Location in the row or in the header, because this field will not be recalculated to show the stock level in the new Location.

Similarly, if this field contains a value, you should not change the Date in the Stocktaking record. Again, this field will not be recalculated to show the stock level for the new date. For this reason, be careful when duplicating a Stocktaking record that contains In Stock figures. The duplicate will be for the same date as the original and the In Stock figures will be duplicated, so will be correct for that date. But if you change the date, the In Stock figures will not be recalculated.

Description
The Item Name will be brought in from the Item register when you enter the Item Number. You can change it if necessary.

Serial No
Paste Special    Serial Numbers of Items in stock
If the Item uses Serial Numbers or batch numbers, you must enter a valid number here if you are not using the No Serial No. on Goods Receipts option in the Stock Settings setting. If you are using this option, entering a Serial or batch number will be optional, and the 'Paste Special' list will not be available.

If an Item is Serial Numbered at the unit level and you have more than one unit in stock, you must enter separate rows each with a quantity of one, to allow you to enter the Serial Numbers individually.

If you enter a Serial Number in a new row, other details such as the Item Number and Name, pricing information, Location and, if appropriate, Position will be brought in automatically.

If you have not specified a Location, the 'Paste Special' list will show the Serial Numbers of Items in every Location, with an indication of the Location in which each Serial Number is stored. However, if you have specified a Location at either header or row level, the 'Paste Special' list will only show the Serial Numbers stored in that Location.

Location
Paste Special    Locations setting, Stock module
Enter a Location if different from the Location entered in the header.

Do not use this field in a Stocktaking record that you created using the 'Create Stocktaking Records' Maintenance function. In such a record, the In Stock field will contain the quantity in stock in the Location specified in the header. If you specify a Location in this field, the figure in the In Stock field will not be changed and so it will no longer be correct. The consequence will be that the 'Stocktaking Comparison' Maintenance function will create an incorrect Goods Receipt or Stock Depreciation record, because the stock level figure it uses to compare with the Counted quantity will not be correct.

Position
Paste Special    Position register, Warehouse Management module
Specify here the Position in which the Item is stored. You must specify a Position if the Location is one in which you have ticked the Require Position option.

Coeff
Default taken from    Item
The Unit Coefficient of the Item is shown here, taken from the 'Stock' card of the Item. If you are maintaining stock quantities using different units of measurement, this coefficient is the ratio between those units of measuremen