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
Troubleshooting
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
Can I Enforce Blind Stock Counts?
The Blind Stock Counts feature is enabled which prevents access to expected stock on hand and period reporting whilst a period is still open. Once stock counts are declared and the period has been Approved, reports become available to review.
Troubleshooting
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.
| Cause | Solution |
| 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. |
There Is A Difference Between Actual & Theoretical Costs.
Within the Margin Summary & Stock KPIs Report and Period KPI Results Report, the total Actual Cost and total Theoretical Cost for the period is shown. Typically there is a small difference between these two costs due for known losses through a combination of:
- Period Count Variance at the end of the period.
- Declared Wastage during the period.
- Yield Loss Wastage during the period. (If using Product Preparations.)
These losses are available to view within the Margin Summary & Stock KPIs Report for each individual period, in the Wastage Analysis section:
In some cases, the difference between actual and theoretical doesn't necessarily equal the total value of losses shown within the Wastage Analysis section as shown above. This is due to the impact of costs changing within an individual period on the Actual Cost calculation, whereby opening stock is valued based on costs at the start of the period (i.e. at the end of the previous period), and closing stock is valued based on costs at the end of the period.
In the majority of cases, cost changes within a period are minor, so the impact on the Actual Cost calculation is minimal. However, below is an exaggerated example to demonstrate how this happens.
| Opening Stock | Purchases | Sales | Closing Stock |
| 100 | 100 | 100 | 100 |
| £100 | £150 | £125 | £150 |
In this example:
- The cost at the start of the period (and therefore end of the previous period) is £1 per unit, hence a count of 100 units gives an opening stock valuation of £100.
- Halfway through the period, and order is received for 100 units, now valued at £1.50 per unit, thus a total purchases cost of £150.
- In the first half of the period 50 units were sold at £1 per unit, and in the second half of the period (after the above order was received) another 50 units were sold at £1.50 per unit. Therefore the total cost of sales (i.e. the Theoretical Cost) for 100 units sold is is £125.
- The cost at the end of the period (and therefore the start of the next period) is £1.50 per unit, hence a count of 100 units gives a closing stock valuation of £150.
In this case, the Actual Cost (calculated as: Opening + Purchases - Closing) of selling the 100 units is calculated as £100, whereas the Theoretical Cost based on the cost at the time of each sale is £125, there the impact of changing costs within the period resulted in a £25 difference impacting actual versus theoretical.
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