Stock Take

Module Guide: Stocktake (Physical Stock Count)

Module Location

Inventory > Inventory Adjustment > Stocktake

Module Objective

The Stocktake module is a transactional module used to create an official inventory adjustment document based on the results of a physical count. After you have identified stock discrepancies using the Stock Count Sheet module, you use this module to execute that adjustment so that the stock quantity in the system once again matches the physical quantity in the warehouse.

1. Main View (Stocktake Document List)

The main page of this module displays a list of all Stocktake documents that have been created.

View Explanation

This page is for viewing the history of stocktake adjustment documents and for starting a new process.

• Document List: The table will display all adjustment documents that have ever been created, along with their status.

Button Functions

• [New]: The primary button to start the process of creating a new Stocktake document.

2. Steps to Perform a Stocktake Adjustment

Step 1: Preparation

Before using this module, ensure you have completed the physical count and have the discrepancy data from the Stock Count Sheet module.

Step 2: Create a New Document

From the main page, click the [New] button.

Step 3: Specify the Location

On the New form that appears, select the Bin Code (warehouse location) where the stocktake was performed, then click [Save].

Step 4: Detail the Adjustments (Conceptual)

After you save the location, the system will open a detail page (not shown). On that page, you will:

• Add the items that have a discrepancy.

• Enter the adjustment quantity (for example, -5 if there is a shortage of 5, or +2 if there is a surplus of 2).

Step 5: Confirm the Adjustment (Conceptual)

After all items with discrepancies have been entered, you will confirm the document.

3. Process Results

After the Stocktake document is confirmed:

1. The system will automatically update the Quantity on Hand in the warehouse to match the physical count results.

2. The system will create a journal entry to record the value of the inventory adjustment (for example, to a Stock Discrepancy Expense account).

Tips & Important Notes

• This module is the execution step after the counting process in the Stock Count Sheet module.

• This is a module with a direct financial impact because it changes the inventory value on the balance sheet and usually requires authorization from a managerial level.

• This process is crucial for maintaining the accuracy of inventory data.