Stocktake
To manage the stocktake process start INSTALLATION Workshop and from the main menu select Toolbox|Stocktake...
Periodic stocktakes are important to ensure that operator data entry and external handling errors are caught and corrected, and that the quantity information in your stock files remain accurate.
A
stocktake involves:
Deciding what will be counted. This might be the entire inventory or a certain group of products or a range of bins.
Printing out counting sheets that operators can record counts on. The count might also be handled electronically with the assistance of hand-held bar code scanners or other types of data entry units, such as wireless scanners.
Manually enter or electronically import the count information back into the system.
Printing a variance report to check for differences.
Recounts may be called for, if the information on the variation report warrants it.
The final stocktake count is then 'submitted' to the CAPITAL stock system where the quantities held in inventory are adjusted to reflect the physical count.
You may perform one large stocktake or many smaller stocktakes. You may have many stocktakes 'open' at any time as you wish.
Decide What Will Be Counted
You may base a stocktake on all items in your inventory system or for a specific stock group. Within either selection you can also limit the stocktake to a particular Bin, for items that have not been sold before a certain date or for items that have been marked in Stock Control as special.
Once
you have decided what you will be counting, you must stop all sales and deliveries of purchases and other
activities, that may alter your physical stock holding levels. You cannot continue with any of these activities
until the physical count has been completed.
If you will be manually counting using stocktake sheets (paper based reports), start CAPITAL and go to Reporting. Move to the Stock section and select Stocktake Sheets.
For
more information on how to print Stocktake Sheets consult the on-line help topic: Stocktake
Sheets.
Enterprise & Corporate Edition Only
If you intend to upload your information into an electronic device such as a handheld bar code reader, then you may not need to print Stocktake Sheets. You can export the stocktake as a data file. The data file updated with the physical count can then be uploaded back into CAPITAL.
A handheld barcode reader is unlikely to be set-up to import and export CAPITAL stocktakes in the required
format 'out of the box'. A technical person will normally have to configure the reader to accept and process
stocktakes in the required format. The reader should also come with its own software to allow communicate
with your PC and transfer files. An easier solution is to purchase a preconfigured hardware and software
package such as CAPITAL
Stocktake Express.
Creating a Stocktake Snapshot
As soon as the Stocktake sheets have been printed you should create a stocktake snapshot file. This creates a 'frozen' image of your Stock In quantities at the time of the creation of the snapshot.
To do this, start INSTALLATION Workshop and move to the Toolbox|Stocktake menu. Click on the button to create a snapshot. A dialog box will appear.
Stocktake Name
Enter a description of the stocktake so that you have a means of referring back to it later. For example, the stocktake name might be 'Mid-year stocktake of Carpets'.
Location
If you are operating with multi-location stock control you must specify a location here. You can only stocktake one location at a time in any single stocktake. (However, you can open multiple stocktakes at once.)
From Bin
If you wish to restrict the stocktake to a particular bin you may enter the bin code here. This field is normally left blank.
To Bin
If you wish to restrict the stocktake to a range of bins, you may enter the last bin to include here. All products that are assigned between the two bin ranges will be included in the stocktake. If the To Bin field is left blank, only items assigned to the From Bin will be included in the stocktake. All items will be included if both bin fields are left blank.
The
way computers sort letters and numbers can often seem confusing, so it is important to be aware of the
way they operate. To a computer, the code F7 is less than the code FF12 so if you specified a bin range
of E to F, then F10, F20, etc., would not be included in the stocktake. If you want to include all E to
F bin locations, enter the range as "E" to "FZZZZZZZ" (for example). This will include
all bins that start with the letter F and exclude bins higher than F, such as G and above. (Assuming,
of course, that you are using alphanumeric codes for bin locations.)
All Products
Select this option to stocktake all inventory items in the system.
Stock Groups
Select this option to stocktake one or more stock groups. If this option is selected you will also be prompted to indicate which stock groups to include in the stocktake.
Full Count
If this option is selected it is assumed that all items will be counted during the stocktake. Items not counted will be considered by the system to have a current holding quantity of zero.
Submitting
a full count stocktake without entering any actual counts can result in the zeroing of all quantities
in your stock file.
Spot Count
If this option is selected only the quantities of the items actually recorded as being counted will be adjusted. If a quantity value is not placed against a stock item, CAPITAL will not adjust its present stock holding level. In a situation where you then wanted to record that a particular item has zero in stock, you must enter zero under the Count column for that item on the Enter Physical Counts page.
No New Sales Since
If you specify a date here, only stock items that have had no sales since the date specified will be included on the stocktake report. Normally this field is left blank.
Only Special Items
If this option is ticked only stock items meeting the above criteria and also marked as special in Stock Control will be included in the snapshot.
Include Empty Bins
If this option is unticked stock items not designated a Bin code will be excluded from the stocktake.
Remember:
once the snapshot is created or your stocktake sheets prints, you cannot carry on with activities that
alter your stock levels (such as raising invoices or delivering purchases) until the physical count is
completed.
Counting Your Stock
Once a stocktake snapshot has been created you can begin the physical count.
Once the physical count is completed you may begin raising invoices and delivering purchases again. CAPITAL will only update the system with the adjusted quantity. This is the difference between the quantity recorded in the computer and the physical count.
For example, if the computer's recorded quantity is 10 but the physical count finds only 8, then the difference (called the variance) will be -2. When the stocktake is submitted to the stock system in order to perform adjustments based on the physical count, the variance of -2 will be added to the current computer's stock in holding level.
So it does not matter if this quantity has since changed. If two items have been sold then the computer's quantity on hand will have changed from 10 to 8. The actual physical quantity will be 6. (Since two were not found during the count.) CAPITAL will add -2 to 8 for an adjusted total of 6. In other words, it is safe to begin invoicing and delivering purchases as soon as the stocktake snapshot has been created and the physical count completed.
Entering The Physical Count
To enter the physical count, select the stocktake you wish to input count data for, and click on the tab button.
Move to the Count column (it should already be selected) and begin entering the physical quantities you have counted. In a network environment it is safe for two or more operators to enter count information simultaneously.
During data entry you can press the button to re-arrange the order of the listed items. You may need to do this in order to match the order of entry to the order of the stock items on your stocktake sheets.
If you need to find a particular item, press the button and then enter what you are looking for.
Export & Import
Enterprise & Corporate Edition Only
If you intend to export the stocktake snapshot into an electronic device such as a hand-held bar code reader, you can click on the button to create a data file of the contents of your snapshot. The data file may be in ASCII comma delimited, ASCII SDF (fixed field width), Tab Delimited or dBase III (DBF).
Also
consult the topic: CAPITAL
Stocktake Express for information on electronic stocktaking options for CAPITAL.
It is possible to import any of these formats into Microsoft Excel if you wish to do data entry in that application and re-import the file later. However, it is strongly recommended that you perform the data entry from within CAPITAL, as the program has been optimised for fast data entry and the input procedure will be less error prone.
If you wish to import a stocktake data file, click on the button. You will be prompted to specify a stocktake DIM file that describes how to import the data file. If you have not defined such a file you must do so first, following these steps:
Start INSTALLATION Workshop.
From the menu select Transfer|Import External File|Stocktake.
Specify the name of file to import and its type. For more information on how to import a file see the topic: Import External File.
You must at least link the product Name and Qtycount fields to the entries in your data file for CAPITAL to be able to import the stocktake.
After you have linked the applicable fields, press the button and select in order to create your stocktake DIM file.
Data
file conversions can also be automated for users by creating a script. This can be useful, for example,
to simplify the process of translating a data file generated by a mobile data collector/bar code scanner
device. For more information on this topic see: Stocktake
Data Import Hook.
Any
data file you import should be based on the data file you originally exported. If you try to import stock
counts for items not contained within the stocktake snapshot, CAPITAL will mark those entries as missing,
even if they exist in your stock system.
Reporting On Stock Variances
Once the physical count has been entered or imported, the next step is to print a Stocktake Variance report. Click on the button to do this.
Submitting The Stocktake
Once the stocktake physical count has been entered or imported and a variance report printed, the final step is to submit the stocktake to the stock system.
Before you do this you may wish to check for unusual differences reported by the stocktake variance report and do any necessary recounts or double-checks. You may enter or change count data and re-run the variance report as many times as you wish.
When you are ready to submit your stocktake to the stock system press the button. You will not be able to submit a stocktake when operators are editing stock records. Operators on your network will not be able to invoice, deliver or perform other stock related activities while the stocktake is in the process of being submitted.
Submitting a stocktake may take anywhere from a few seconds to many minutes, depending on the size of the stocktake snapshot and the speed of your computer or network.
If
your computer is interrupted when the stocktake is submitted, due for example, to a power failure or network
error, then this may corrupt the stock quantity information in your stock records. It is recommended that
you always make a back-up as a precaution before submitting a stocktake.
Submitting the stocktake will do the following:
Stock In holding quantities will be adjusted.
An audit trail entry for every adjustment will be created.
If you are running CAPITAL GL Controller and operating with a chart of accounts that processes direct stock adjustments, a system journal will be created and placed in the General Ledger's System Batch area.
If you discover that a mistake has been made and that the stocktake should not have been submitted, you can reverse the above steps by pressing the button. Undoing the stocktake will submit the adjustments to the stock system in reverse. You can then fix the problem and submit it again.
If
you delete a stocktake snapshot it will no longer be possible to undo it or submit it!
You cannot edit a snapshot once it has been submitted, unless you undo it first. You may, however, continue to print stocktake variance reports for stocktake snapshots, even after they have been submitted.
CAPITAL
creates or updates a database called STKTAKE when a stocktake snapshot is submitted. This database contains
all the records of the current stocktake. You can base Visual Builder reports around this table if you
wish.
Stocktakes & Stock Tracing Properties
Stock Tracing Component Only
If a stock item has extended stock properties, a list of them will appear after entering a number in the Count column. Allotment adjustments can then be made here. Due to the "live" design of the Stock Tracing System, any adjustment made in this area takes affect immediately. There is no need to press the button to update allotments, nor will reverse any changes.
For example, if you are changing the count on a product item that is assigned batch numbers, you will be presented with a list of all batch numbers assigned to that product when you enter a number in the Count column. If you wish to change the batch number allotment but not the physical count, enter the same number into the column. So if the count was 50, enter 50 again to display the list of allotted batch numbers. Besides adjusting the actual allotment quantity, you may also add, edit or delete batch numbers if necessary at this point.
CAPITAL
does not track variances by extended properties. For example you cannot report the variance count on the
actual number of RED items versus the recorded number of RED items. The tracked variance will be for all
colours (or other properties) per product items.
As
adjustments to extended properties have an immediate impact on your inventory, count adjustments to stock
items with these products should be entered in the system before users resume invoicing or delivering
stock. The reason for this is practical. Operators may potentially invoice incorrect serial numbers, batch
quantities, etc., unless these adjustments are made before trading commences. (It is not feasible to reverse
or adjust the entries on transactions after they have been created and printed.)
You may resume normal trading activities as soon as extended stock property adjustments for applicable products have been entered. Or in other words, you should make any necessary adjustments and corrections to colours, sizes, batches, serial numbers, etc., before you commence trading. You do not, however, have to submit the stocktake snapshot to the system until all other aspects of the stocktake are completed.
Hints & Tips
If you are running CAPITAL GL Controller and use an opening/closing stock system, simply enter your revised inventory value at the end of the current period. This revised value can be obtained by running a Stock Quantities Report.
Warehouse Manager Issues
Warehouse Manager Component Required
It should be noted that CAPITAL considers the Warehouse In quantity as part of the physical quantity to count if the Warehouse Management System is in use. For example, if 50 are counted as physically in stock and a further 100 units have been processed (received) by your warehouse, then the actual available quantity for counting will be 150. This is always the case, even if 50 units of stock are only considered as being physically 'in stock' in the Stock Control system. When entering stocktakes, the 'Original' column will display the addition of both quantities.
Stock In + Warehouse In = Stock to Count
It
is therefore important to realise that you must count all stock in your warehouse, including any stock
that may be sitting in a 'receive area' so long as that stock has been formally received by warehouse
staff, using their Warehouse Manager software.
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Related Topics
Warehouse Manager Wireless Stocktakes
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