Inventory - Adjustments - Stocktake
Micronet's Stocktake program provides a great deal of flexibility in conducting stocktakes, allowing you to choose the method that best suits your company.
Depending on the stocktake method used, processing of your normal sales and purchases can continue even though stocktake batches have been created; Micronet “remembers” the current stock status when the batches are first created. Alternatively, you can close the warehouse in which you are conducting the stocktake.
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Warning
Note that the only stocktake method you can use for your stocktake batches if you want to continue trading during your stocktake is Use Original Stock on Hand – see "Traditional Method" and "Master Batch Method".
For all other methods – including Overwrite SOH with Stocktake Quantity, Append Stocktake Qty to SOH, Stocktake with Serial Numbers and Zero Completed Serial Numbers – you will need to stop trading and all stocktake batches must be posted before resuming. If transactions are processed during the stocktake, it will cause a GL variance which will need to be journalled.
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A stocktake batch can contain one or multiple stocktake items. For simple stocktakes, a single stocktake batch is usually sufficient. However, for companies with large stocktakes and limited time, it can be inefficient to have only one stocktake batch for counting. Micronet offers an alternative method where multiple batches are created for counting and then consolidated into a single master batch for processing. Alternatively, you can create multiple batches where each batch contains a range of items (e.g. batch 1 contains items from bin location 01 to bin location 03, batch 2 contains items from bin location 04 to bin location 05, etc.), and the batches can then be posted individually.
With a paperless solution, this allows multiple mobile devices (PDAs) to be used in the count. With manual stocktakes, it allows more than one person to enter the count details back into Micronet.
Once the physical stocktake has been conducted, the actual stock counts are entered into the batch(es) in Micronet. Alternatively, they can be loaded from mobile devices. You can then print a Stocktake Processing Report to review discrepancies in stock count quantities before posting the batch. If there are any variances, you can conduct a second count and enter the new figures into Micronet.
Rather than manually checking the Stocktake Processing Report for variances, once you have entered your first stocktake count figures into Micronet, Micronet can create a new stocktake batch containing only those items where the discrepancy between the original quantity and the count quantity is greater than a specified number or percentage of units, or a specified dollar value or percentage. This is called a variance batch.
Before you begin your first Micronet stocktake, refer to the next section ("Stocktake Methods") to find out about the four stocktake methods recommended by Micronet as best practice, so you can select the method that is most appropriate for your company.
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Reference
For information about how stocktake entries affect the General Ledger, refer to "Stocktake Adjustments" in the General Ledger manual.
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