Effective stock management is a cornerstone of business success, and the Stock Count element within the Periods feature stands out as a pivotal aspect in this realm. Whether you're a seasoned professional in the industry or a newcomer navigating the business landscape, understanding the intricacies of managing on-site stock is essential.
This guide serves as your comprehensive resource for frequently asked questions (FAQs) and troubleshooting tips related to the Stock Period Count aspect of the Periods feature. Our goal is to demystify any uncertainties you may encounter, ensuring you unlock the full potential of this tool to manage stock counts effectively, identify variances, and generate insightful reports on stock movements throughout the designated period. Let's simplify the complexities of monitoring inventory and empower your business for success through efficient Inventory Management.
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Frequently Asked Questions
Frequently Asked Questions
Which Products Need Counting At Period End?
In a stock period, you can add two types of products to Stock Period Count Sheets:
- Supplied Type Products: Regular stock items.
- Recipe Type Products: Specifically flagged for "Batch Counting."
For stock period reporting, attention is entirely focused on Supplied type products. If you're counting Recipe type products (with the "Batch Counting" flag), the system allocates the count proportionally to the Supplied type product components of that recipe.
Here's the efficient part: While you can add both types of products, you're not required to count every single one. The stock period expects counts only for Supplied type products that had an opening count greater or less than zero at the period's start or those with any movement (e.g., sale, wastage, transfer, order) during the period.
Missed a count for a product meeting the criteria above? Brace yourself for a "Count Exception" in the Period Exceptions section when attempting to approve the period
I Have A Stock Count Variance That Needs Investigating.
If you come across unexpected variances following the entry of stock counts into the stock period, the table below serves as a guide to investigate and address those discrepancies.
Within the stock period, use the Period Variance report to pinpoint any discrepancies with stock at the period's conclusion. Should variances be detected, the report not only furnishes the opening count at the period's commencement (derived from the preceding period's closing count) but also presents comprehensive insight into stock movements throughout the entire period.
|The previous period is not yet approved.
|The Opening column of the report will only reflect the closing count of the previous period once it has been approved. Update the state of the previous period to Approved.
|The count entered is incorrect.
Check the Count column of the report to ensure that the counts correctly reflect the physical stock on hand for the product at the end of the period. If not, update the count sheet to correct the count.
The count entered in the previous period is incorrect.
|If the count in the previous period was entered incorrectly, the Opening column of the report in this period will be incorrect. To resolve, roll back the previous period and correct the count.
There is an outstanding record within the period. (e.g. transfer not yet receive in.)
|Ensure that the Trial Approve process has been run within the period, to check for any outstanding records that need to be finalised within the period.
|A record within the period has the incorrect date. (e.g. supplier order received into the wrong period with incorrect delivered date.)
|For the product, check that the movement totals accurately reflect the actual movements that occurred during the week. If not, select the value to view review each record within the period that makes up that total (as covered in This Article). For any records with incorrect dates, roll back the record to correct the date and re-approve it.
|A mistake has been made in a record within the period. (e.g. wrong product wasted, or incorrect quantity entered.)
|For the product, check that the movement totals accurately reflect the actual movements that occurred during the week. If not, select the value to view review each record within the period that makes up that total (as covered in This Article). For any records containing mistakes, roll back the record to correct the mistake and re-approve it.