Stock take is necessary if you wish to include a stock on hand total in the trial balance in Professionals Business Accounts. Other wise it is optional.
To carry out a stock-take follow the sequence below:
1. Load the stock take file from the current inventory file.
2. Edit each stock item by entering the actual number in stock.
3. (Optionally) run the Audit report to show the difference between what was in the inventory file and what was actually in stock.
4. Update stock - this copies the actual stock amounts into the inventory file and replaces the previous totals.
5. (Optionally) run the Stock Value report. This prints the total value of the stock on hand as inclusive and exclusive of G.S.T.
For the stock-take to be accurate you should do the stock-take while the shop/business is closed.
To start the stock take process click Load. You can create a stock take file by stock line, or all your existing inventory items. As shown below:
Splitting stock take by line is useful if you have a large inventory, or little time to carry out stock take. In that case it is a good idea to split the stock take.
To enter the actual number of items in stock click the Edit button. The only field you may enter anything in is the Number in stock field.
Saving the entry replaces any existing In stock value with the new one.
Once you have completed the stock take click the Update Stock button. The old number in stock amounts are replaced by the new amounts.
If you are one of those people who likes to be sure of what they have done, click the Audit button to obtain a report of the most recent figures compared with the old ones.