FREQUENTLY ASKED QUESTIONS about STOCK COUNTING
It is all very simple when you know how, but at first there are lots of questions that come to mind, these are typical ones
CAN I CHECK THE MARGIN ON STOCKING ?
Answer: The stock can be valued at both cost and retail selling price allowing margin to be calculated if it was to be sold. This can be further analysed into the age of the stock based on goods inwards date or date of last sale.
CAN I CHECK WHAT STOCK LEVELS WAS BEFORE AND AFTER THE STOCK COUNT ?
Answer: The stock taking procedure requires that the current stock level is recorded before stock taking. The resultant total of all counted input per product is updated against the stock and the difference generated as a stock adjustment
CAN I TRACE LOSS BY THEFT ?
Answer:If the stock difference after counting results in a negative, a loss by theft adjustment will be the raised.
CAN I MOVE STOCK BETWEEN BRANCHES AND CAN I TRACE IT WHILST BEING TRANSFERED ?
Answer:The stock may be moved as a result of a head office buyer deciding sales at the branches warrant the transfer of stock to store. The sending branch will generate a branch transfer note and that the receiving branch will book it in like goods inwards.
CAN I SEE THE EFFECT OF LOSSES ON THE NETT PROFIT ?
Answer: The gross profit on trading comes from the tills, however you can see the effect the returns have on profit. Add to this other adjustments such as wastage or own use. The sum of all losses is taken from the gross profit by department or group to arrive at a new net profit.