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Stocktaking

You can keep track of the stock of articles in both Profit Order management and Profit Projecten.

If you keep track of stock it is necessary to do stocktaking regularly, for example, once a year. During stocktaking you check whether what Profit has registered as stock, actually corresponds to reality. If you use the Stocktaking function for this, Profit immediately processes any stock differences found.

Description

When stocktaking, the stock in Profit is compared to the actual stock you have counted during stocktaking. Profit processes any stock differences automatically and then journalises these to Profit Financieel.

During stocktaking, physically counting the stock, you can continue to work in Profit.

The process of stocktaking is shown in the following diagram:

First, you add a stocktaking list, where you filter the items for which you want to take stock. You then print the stocktaking list and complete this with the actual quantities of items present.

Entering the quantities found take place in two phases: verification and approval. During the 'verification' phase, you enter the quantities found and Profit checks whether there are stock differences. During the 'approval' phase, you indicate whether the quantities found and the differences are actually correct, so that Profit generates journal entries for any stock differences, and so that you carry the stock differences forward to Profit Financieel at the press of a button.

You cannot take stock of all articles; stocktaking is only for articles for which stock is tracked and for which the article group linked has stocktaking turned on.

Note: 

An article with zero (0) stock will not appear on the stocktaking list. You can add these articles to the stocktaking list later.

An article that still is included in a stocktaking run which is not yet fully approved, will not be included in a new stocktaking.

The Take stock field in the article group properties must be selected.

You can add custom fields to the stocktaking list and the stocktaking lines. You add these custom fields using the Management Tool.

You can determine the date on which the stocktaking journal entries are entered yourself. For example, this enables you to start stocktaking at the beginning of January but to date the journal entries at the end of December, of the previous financial year. For this reason you will find the Deviating entry date field in the Stocktaking header. The only restriction to this field is that the date is not allowed to be more than three months in the past or future, from the current date.

You can continue working in Profit during stocktaking. This is because for every stocktaking action the date and time of the action are automatically entered. By taking stock based on a particular date and time, Profit can take into account any intervening stock entries for the article for which stock is being counted.

Example: Stocktaking while continuing to work in  Profit

You create a stocktaking list on 26-05-2008 at 10:52 hours which includes the article Server behuizing (1006). You have 19 units of this article in stock. Then, at 11:00 hours a packing slip is added which includes 3 units of the article Server behuizing. If you do stocktaking at 11:10 hours, the expected quantity of this article is 19 units, according to the stocktaking list. As 3 units have been delivered, after the stocktaking list was added, you will count 16 units (assuming no further stock differences are present). You enter these 16 units in the stocktaking list.

At the time you verify the line in Profit, first of all, you enter the stocktaking date and time (11:10), you then enter the quantity 16 units as counted and you verify the line. Profit checks whether there were any stock entries for the article between the time the stocktaking list was created (10:52) and the time when the line is verified (11:10). Profit now finds the 3 units that were delivered between those times. The actual quantity will be adjusted immediately in the stocktaking list (actual quantity is 16 units instead of 19 units). The stock in Profit thus corresponds to the actual stock, so no journal entry is required for stock differences.

A stocktaking can have one of the following statuses:

  • New

    When you add a new stocktaking it is automatically give the New status. The date and time that the stocktaking list was created is also stored. None of the stocktaking lines have been verified or approved. You can still change the sorting of the stocktaking list.

  • Partially verified not approved

    Some stocktaking lines have been verified, but none of the lines have been approved. From this point on you can no longer change the sorting of the stocktaking list.

  • Partially approved

    Some stocktaking lines have been verified, and one or more lines present have been approved.

  • Approved

    All stocktaking lines have been verified and approved. The stocktaking list is now closed.

Preparation

  • Configure stocktaking

    If you want to do stocktaking in Profit, you must set this up in the article group. You also have some optional settings at your disposal.

Video

Procedure

  • Add stocktaking

    You do stocktaking in (part of) a warehouse to check whether the actual stock present matches the stock in Profit. When adding a stocktaking list, you can filter by locations, article groups and items in order to only include the articles in the stocktaking list that you actually want to count.

  • View stocktaking

    You can view the stocktaking lines in the stocktaking properties.

  • Adjust sorting stocktaking

    You can change the sorting of a stocktaking. You can only do this for stocktaking with the New status.

  • Print stocktaking list

    After a stocktaking list has been added, print the stocktaking list. On this list you can enter the quantities or the differences found in the warehouse (or location). You can then enter the quantities stated on the list in Profit.

  • Enter stocktaking

    You go into the warehouse or to the location concerned with the printed stocktaking list. You enter the quantities or the differences found on the stocktaking list.

  • Stocktaking using a barcode scanner

    You can do stocktaking with a barcode scanner instead of entering the quantities on the printout manually.

  • Verify and approve stocktaking

    Once you have counted the stock in the warehouse/at the location, you enter the quantities or the differences found in Profit. Completing a stocktaking line is known as  verifying. After you have verified the lines, you can approve them.

  • Journalise stocktaking

    You journalise the entries for the stock differences just as you journalise other stock entries and invoices to Profit Financieel.

  • Examples of journal entries for integration types

    You can create journal entries for stock entries of articles and assembled items from Profit Order management and Profit Projecten.

Process

Stocktaking

Work area

stock