Stocktake Procedures

Recommended Stock-take Procedures

In order to ensure that your End of Financial year procedure goes smoothly, there are a few things that you need to consider.

Before Generating Stock-take Sheets

Make sure all debtor bills that need to be dated before the Stock take have been entered and finished (with a payment method applied).
Post all outstanding batched invoices that need to be dated before the Stock take.
Enter all creditor invoices and payments that need to be dated before the Stock take.
Complete any Stock transfers between stores before any sheets are generated.

Inactive Stock

If inactive items have stock on hand they will still appear in the stock value report. ALL inactive stock can be zeroed quickly by doing a stock take for inactive stock only and NOT populating column 1 with current stock values. As counts are all zero you can post straight away.

Generating Stocktake Sheets

Make sure a full stock take sheet is generated (for each store if operating multiple stores) by the end of the last day of the financial year if you are counting stock at that time - ideally this should be done after you have finished trading that day. You cannot back-date a stock take.

Counting Stock

Perform the physical stock take count - ideally outside trading hours on the last day of the financial year.
Check on the stock take printout / StockLink App whether you need to count in Packs or Units.
Any bills done during the stock-take are held and stock taken off after the stock-take has finished. Therefore, if an item is sold between generating sheets and physically counting that item you will need to adjust the counts on your stocktake sheet or do a stock adjustment after the stock-take is posted.

Entering Counts Back into VetLinkSQL

Enter the counted stock figures into VetLinkSQL - you may continue to do this over several days, but it must be completed prior to performing the Creditors End of Month.
After entering stock make sure the Col_Total in the Enter Stock screen has the correct SOH value that you wish to post.
Post the stock sheet (if you are operating more than one store ensure all stock sheets are posted).

End of Period Procedures

Perform the Debtors End of Month. (Before completing stock-take Statements can be printed but you will not be able to continue EOM past that point).
Perform the Creditors End of Month.
Perform the Debtors End of Year.
Perform the Creditors End of Year.

Watch the Video or Download the Manual

For a comprehensive guide on how to successfully complete a stock-take, please watch our webinar or download the manuals by clicking on the following links.