Overview

Key Features of stocktakes

Support for :

- Manual stocktakes,
- Automated stocktakes using your own or data capture units hired from Readysell
- Laptop using portable wireless blue tooth scanners
- Warehouse stocktaking feature on Readysell mobile app for smart phones or tablets. The mobile app can use blue tooth scanners such as those that can connect to the device by clicking on the tablet, be hung around your neck in a form similar to a pendant and others
Being integrated with Readysell advanced warehousing features, stocktakes can be performed by very small locations at a time. Locations can go right down to the shelf or bay level.
Readysell's extensive warehousing experience is available for hire if you need training, design advice or one of our team members to control your stocktakes.
Full range of stock reports before and after the stocktake,
Full range of variance tracking, stocktake progress tracking and performance reporting.

There are two ways to stocktake products:

Use data capture units or the Readysell mobile application. This scan or type in products manually
Use Extract Products to generate a list of products meeting particular criteria, print a stocktake count worksheet and send this to the required personnel for counting

Once you have finished counting stock, you may generate a final stocktake for all products that have not been counted. This identifies all products that have not been counted. You can then apply a number of different flags to these products (such as setting the Stock on Hand to 0, removing them from the website, marking them as Obsolete or Archive, and so on).

Extensive documentation

There is very extensive documentation on how to prepare, test, model your stocktake process, report on and review stocktakes. Every dealer who follows the documentation has few difficulties with stocktakes. There is no reason why you should not review the documentation and find the information you need before you start your stocktake.

Stocktakes in Readysell work in the following modes:

Ad-Hoc : correcting stock for specific products without having to generate a final stocktake for uncounted products

If stock is in two locations. Ad-Hoc stocktakes will only every change the stock in the location you count. As a result you can end up with uncounted stock still being on the computer when you end the stocktake.

Location Only : correcting product location only. This mode does not change the product stock level or require to generate a final stocktake

If our stock on hand and location data is very messy. It may be a lot faster to do a location only stocktake of the whole business to put stock in the right location, get your location labels in place and check the bar codes work. Then you can actually count the stock using your new tidy locations and functioning bar codes.

Partial : clearing stock in specific locations as you go; this is better for rolling stocktakes

You might use a partial stocktake even when stocktaking the whole business. When you first count a product, partial stocktakes clear stock in all other locations for that product. This approach to clearing stock might suit your business.

Full : clearing stock in all locations when you get to the end; this is better for full stocktakes

If you have stock for a product in two locations. When you first count a product, full stocktakes only clear and replace the stock in the location you are counting.Any stock for the product says in the other locations. At the end the stocktake procedure you do a final stocktake. The final stocktake then clears all stock in product locations that you did not count.

A stock variation report may be used to determine variances, stock cleared in other locations, and stock not cleared in other locations.

Readysell's stock on hand report can print the stock on hand at any date. So you can rerun your stock on hand report as at the start or end of the stocktake at any later date. Handy if you forget to run the report or loose the printout!

This feature is not available in Readysell Lite.

Before You Start Stocktakes

Before you start stocktaking please ensure that you :

Are using automatic cost and sell price updates from the price book. Automatic updates change product units. If you do a stocktake then turn on automatic price updates. Your product units may change, which may stuff up your stock on hand for some products. Get automatic price updates running first!

Implement purchase receipt scan checking, sale shipment scan checking and automatic purchasing. Those processes "close the stock loop". Unless you are following those best practice procedures, your stock on hand will probably get out of wack again after you do the stocktake.

If you are using purchase runs, scan checking stock receipts and scan checking sale shipments, you may not need to do a stocktake ever again once you get your stock right

If you do a stocktake without using scan checking on receipting, scan checking shipments, scanning bar codes at pos and purchase runs. Your stock numbers will probably get out of line again after you do the stocktake.
Understand product locations, see Locations in administration
Decide if you are stocktaking just to get a value for stock at a point in time or if you want the stock figures to remain accurate over time
Decide if you are going to stocktake the whole business or only part of the business
Stocktakes modes determine when stock that has not yet been counted is cleared from your system. You need to have a basic understanding of the stocktake modes and how they effect your stock on hand, see Understanding stocktake modes and how they effect your stocktake
Decide if you are going to breakup your stock by location or lump all your stock into one location being the whole business. Then make sure all your locations are setup:
- Locations in administration
Readysell has setup documents describing how to complete common types of stocktakes. Once you understand when you want stock that is not counted to be cleared, as you go or at the end of stocktaking. You need to decide on which of the model stocktake procedures you will follow. Either the:
Then log on to your TEST Readysell system and test the stocktake procedure you expect to use:

Make sure you read this page and all of the child pages shown below before you start stocktaking. You will pay for every shortcut with bad stock counts and wasted time. You have to spend the time to prepare properly. Stocktakes are very easy to stuff up and will stuff up if you do not prepare fully.

Consider the following issues which may impact on your stocktaking process :
- Ensure that you and your staff are appropriately trained in the relevant areas of the stocktake process. Each person has to be told exactly what to do. They can't just guess!
- How well controlled your stock on hand is at the moment. If stock is very well controlled and if you are using automated ordering. You may not need to do any stocktaking at all. It is possible to get stock so well under control that you never need to do another stocktake.

Videos

How to stocktake

- - Your first stocktake should be performed with a mobile computer and a blue tooth scanner. This allows you to correct locations and product data as part of the stocktake process. Readysell needs to be setup on the computers. In a pinch, even normal desktop computers can be used on a trolley

A laptop on a trolley is the best way to do your first stocktake!

Never do a stocktake using printed or handwritten pages to capture the stocktakes. It can be done, but do not go there! You must use electonic devices be they computers, laptops or mobile devices to enter the stocktake!

- - Second and later stocktakes can be performed with mobile data capture units

A tablet and bar code scanner is the best way to do your second and subsequent stocktakes.

- - Rolling or ad hoc stocktakes are normally more practical than full stocktakes
  - Readysell hires out mobile data capture units, contact us early to reserve your units.

Preparing for stocktake

- - All required locations must be created in the system. See Locations in administration
  - Products do not have to be in the right location before you start unless you are using printed stocktake sheets
  - Labels for locations must be on the fixtures before you start stocktaking
  - Perform test runs of the intended stocktake mode before you start to test your readiness
  - Generate and understand the reports such as the Stocktake Variance report
  - Consider and plan for how stocktake values/accounts reconciliation is to be handled e.g., speak to your account person to understand what GL codes are involved and the likelihood of post stocktake journal entries to balance your account
  - Two hours training from Readysell on how to do stocktakes is recommended
  - Readysell can send a stocktake manager to your site on a fee for service basis if required
- How well controlled your warehouse stock locations are at the moment :
  - If your stock is recorded as being in the wrong location, stocktake effort will increase,
  - If your whole warehouse is currently setup as a single location, stocktake effort will increase,
  - If stock and locations are accurate. You may be better to do rolling stocktakes or no stocktake as the system tracks stock so accurately stocktakes are not normally required.
- Any equipment required for stocktaking, such as stocktake units will be available on the required date and tested.
- Their needs to be a person in your business assigned as the stocktake project controller. That person has to have a manual schedule, perhaps in excel, that tracks each step in your stocktake workflow. For example who is stocktaking which location, how each stocktake is progressing, if the variance report has been reviewed for the stocktake. This is important as one stocktake transaction processed using the incorrect options can invalidate the whole stocktake.

Unless you have one person acting as project controller for the stocktake and that person has attended a one hour training session with Readysell on how to do stocktakes, your stocktake will probably fail.

- Stocktake is a way of checking (validating) stock on hand. There are levels of stock control quality. Each has an appropriate way of handling stocktakes :
  - Best. Stock is well controlled, locations are setup properly, stock allocation is turned on for sales and automatic reordering is being used to generate purchase orders. Consider never doing stocktakes, the stock will be continually checked by stock allocation and automated purchasing.
  - Good. Stock is fairly well controlled, but you are not using automated purchasing. Consider using rolling stocktakes with data capture units or the mobile application. Then start using automated purchasing.
  - Poor. Stock is not well controlled. But the business does have stock recorded by location (bin). Consider doing a full stocktake of the business. Then start processing rolling stocktakes with data capture units or the mobile application. Then start using automated purchasing.
  - Bad. Stock is not effectively controlled at all. Stock receipting is not accurate and the warehouse may be setup as one big location. Bar codes are not setup on many products. Consider doing a full stocktake just to work out your stock on hand for accounting purposes. Then start implementing better stock control procedures. Over time move to processing rolling stocktakes with data capture units or the mobile application. Then start using automated
- Manual stocktakes are not best practice. They take around six times slower and take more staff hours than a stocktake using data capture units or the mobile app. Try to aim at avoiding writing stocktake quantities on manual printed worksheets if possible.
- There will be time to do a test stocktake the day before your real stocktake process. Then ensure you have test ran one stocktake on the Readysell test system before you start stocktaking.
- You must do a few small stocktakes and understand the resulting stock on hand and product movements the day before you start stocktaking!
- Confirm that there are no old stocktakes on file that are still flagged as open. They may be processed in error as part of the new stocktake.
You need to have in your own mind a firm plan including which stocktake options you will use and the manual procedures that will be in place.

Contact Readysell Support to discuss your stocktaking plan and devise a detailed stocktake procedure based on your specific requirements.

Make sure you read the documentation and watch the videos on the following user guide pages

Reference

Buttons

Image	Name	Description
	Start Stocktaking run	This starts a new stocktake run.
	New Stocktake transaction	Creates a new stocktake transaction within a run
	Generate Final Stocktake transaction	Creates a final stocktake transaction for uncounted products
	End Stocktaking run	This ends the stocktake run making it complete.
	Extract Products	Extract products into a stocktake transaction based on a specified extraction criteria
	Import Batch Scan	Import products into a stocktake transaction via a batch scanner
	Finalise	Posts the stocktake transaction

Fields

Name	Description
Type	This is the transaction type for the stocktake (E.g: STKTAK (Stocktake))
Number	The number for the transaction of this stocktake
Status	The status of this stocktake. (E.g: Open, closed etc)
Date	The date and time the stocktake was created.
Description	This field contains a description of the stocktake
Site	The site for this stocktake
Value	This field shows the value for the stocktake
Clear Stock Mode

Lines tab

Name	Description
Set Location	Set the location for the selected lines, requires at least one object selected.
Split Line	Requires a single object selected
View Variant	Allows you to add and change columns into this list view and save that view to be used next time
Related - Show Product	Show the details for this product in a new tab
Generate Labels	Generate labels for the highlighted product lines

Product	The Product ID (product code)
Product Name	The name of the product.
Location	The location of the product for this stocktake.
Product Unit	Specifies which unit the product is in. To see more on units click here.
Unit Quantity On Hand	The quantity on hand for this unit on this line of product.
Unit Quantity Counted	The unit quantity counted for this line
Old Unit Quantity	The old unit quantity on the stocktake line
Variance Unit Quantity	This field shows the variance unit quantity for this line
Value	This field shows the value for the stocktake line
Has Notes	Checked if the stocktake has line notes attached to this line
Bar Code Scanned	The barcode that was scanned for this product to be added into the stocktake

Line Details

Name	Description
Unit Cost	This is the unit cost for the stocktake line
Value	This field shows the value for the stocktake line
Uni Quantity on Hand	The quantity of this unit on hand.

Line Notes

Dissections

Name	Description
Account Site
Debit Value	This is the debit value of the dissection value
Credit Value	This field shows the Credit value for this dissection
Narrative	The narrative for the dissection
Description	This field contains a description of the dissection

Movements

Name	Description
Associated Products	This button can show the Associated Products window for the product on the selected line.
Price Book Entries	Shows a list of price book entries related to the product on the selected line above.
Set Date Range	Allows you to see the movements for the highlighted product above based on a particular date range
Product History	Show transaction history for the current product

Location	The location of the movement for the product highlighted above
Quantity	Movement quantity
Original Each Cost Ex Tax	The original cost of each item, excluding tax
Each Cost Ex Tax	The cost of each item, excluding tax
Value Ex Tax	The total value of the product movement, excluding tax. The value is calculated as the cost of each item multiplied by the item quantity.

General Tab

Name	Description
Reference Number	The reference number related back to this stocktake
Period	The period in which the stocktake occurred.

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