This is a list of stocktaking transactions. Stocktaking is when an employee physically visits the inventory, counts the items and registers them in the system. The system will save the entered quantity as the original quantity of the item in question. In the next stocktaking (can be performed hourly, daily, weekly, etc.) the new entered quantity will be compared to the original quantity and the variance will be displayed. The variance is the difference between the expected quantity and the entered quantity. The expected quantity is the difference between the original quantity and the sold, wasted, transferred quantities of the item.
You have 5 boxes of water bottles as the original quantity.
You sold 3 boxes.
In the next stocktaking, you should have 2 boxes.
- If the entered quantity = 2 boxes, then the system will display a variance of 0 box (2-2=0).
- If the entered quantity = 1 box, then the system will display a variance of (-1) box (1-2= -1).
As a general rule:
- Variance = Expected Quantity – Entered Quantity
- Expected Quantity = Original Quantity – Consumed Quantity*
- Consumed Quantity = Sold + Produced + Transferred + Wasted + Damaged, etc... (basically everything that went out of the inventory).
- Variance = Original Quantity – Sold or Transferred Quantity – Entered Quantity
- We want the variance to be 0 or as close to it as possible.
If you find any miscalculations, make sure the recipe is set correctly in your Item ingredients, review the production process and the transaction reports.
- Reference: The stocktaking transaction reference.
- Business Date: The business date when the transaction was performed.
- Branch: Branch where stocktaking transaction was performed.
- User: Web user who performed the transaction.
- Notes: Additional comments.
Performing a stocktaking can be done by clicking on Add new in Inventory-> Stocktaking which will result in displaying:
- Branch: The branch where the stocktaking took place.
- Business date: The date of the stocktaking transaction.
- Notes: Any notes related to this stocktaking or the items
Only the current date or previous day can be selected in this field to keep data consistent.
Add the items in this transaction by filling in their details:
Add items Manually > select an item:
-Select the items you want to stocktake.
-Quantity: Add the quantity you want to add. (In Storage units or ingredient units). This will be added as the “Entered Quantity” and will be calculated automatically against the expected quantity to generate the difference.
Add items From Tag:
Add Items from “Tags” to make things easier (Ex, if you have a “Soft Drinks” tag you can use it to quickly register stock of the soft drinks).
Upload Item Via Excel:
If you are stocktaking a large quantity of items, download the template and fill it using an Excel sheet editor. Once complete, upload the sheet to the system.
Once you finish the stocktaking and save it, it will be displayed on the main stocktaking page. You can view it and view the variance, the original quantity and the items in the stocktaking. You can also print this stocktaking transaction for future reference.