Purpose
This function is used to finalise a stock take. It will automatically adjust your stock on hand for any variances between the stock counted and the freeze quantity (“Stock Take” on hand figure). This adjustment is critical to the accuracy of the Inventory system to keep the Perpetual Inventory system in-line with the actual Physical Inventory.
Care should be taken when running this function as the inventory adjustments it makes cannot be reversed. Make sure that all stock counts have been entered and that all variances have been checked before continuing. It is also recommended that you run and save any stock take variance reports that you want to keep before proceeding to finalise your stock take.
Once a stock take run is finalised, you may not enter any more counts against that run.
Data Input
Step 1 – Stock Take Run No
Stock Take Number
Enter the ‘Stock Take Run Number’ for the count that you want to finalise.
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Step 2 – Finalise Stock Take
Displays the stock take number and a message confirming what the function does to the user.
Finalise Stock Take
At this prompt you must confirm with the “Yes” option that you wish to finalise stock take run.
Once you commit to finalising a stock take run, for each item on the run, this function compares the stock count figure with the freeze quantity (“Stock Take” on hand figure). Any variance is then applied to the current stock on hand quantity in the Inventory system.
Note that items which were included in the stock take run and not counted (i.e. no count entered) are treated as if the stock count was zero so the system will make an adjustment accordingly i.e. the Freeze Quantity will be the variance and therefore a stock adjustment for the freeze quantity will be made to the current inventory stock on-hand.
After submitting the stock take run for finalising, you are given the option to print the ‘Stock Take Unit Cost Audit Report’ for your records which is a useful audit if you made any changes to the unit cost of an item on the stock take.
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