Stock Take
Using the Stock Take function you can produce a list of the Stock levels held in the system. Actual Stock levels, found by carrying out a physical stock count, can be entered into the list and an adjustment movement generated to update the system.
Stock reductions that occur as a result of a Stock Take will be moved out using the Profit Cost Price rather than the Latest Cost Price. This means the Price and Value of the movement will depend on the Profit Cost selected in the System options for Stock. This matches what happens for Sales Order movements.
When posting the Stock Take adjustment you may select to increase or reduce Landed Costs in addition to adjusting the physical stock. The Update Landed Costs option is found on the Update window.
If you have selected the System option Update Stock to Nominal, you can select not to update the Nominal Ledger with these transactions.
Stock Take Search
The Stock Take search window is displayed so that you can select the parts of your inventory to be included in the Stock Take list.
Selection can be made by range of Stock Codes, Sort Keys, Sub Analysis Codes and Descriptions.
The User Keys drill button opens a selection window in which you can enter search criteria for User Key values.
Please note, the Stock Take does not include Serially Numbered Stock items as these are dealt with individually.
By default, the list will show the physical quantity recorded As at the period and year that matches the system date, but you can select to build the list As at a different period and year.
When you have made your selections, click on Display. A list of the selected Stock Codes will be displayed showing the physical quantity recorded as at the selected Year and Period.
Stock Take list
When you have made your selections on the Stock Take window and clicked on Display, a list of the selected Stock Codes is displayed showing the physical quantity recorded as at the selected Year and Period.
Select each Stock Code in turn and enter the physical quantity from your stock count in the Stock Take field. The resulting adjustment quantity will be shown on the list.
Notes can be added to explain the reason for the adjustment. The tick-boxes below the notes field can be used to copy the current note to each successive adjustment.
It is not possible to reduce the Stock to less than zero.
If you have selected to include superseded stock items in the list then these stock items will be indicated by an asterisk in front of the code.
Sort By - Enables you to sort the displayed list by the characteristics.
Stock Take / Sub Analysis Transfer Update window
Note: No Landed Costs journal are generated for an inwards movement of stock created from a Sub Analysis Transfer. This is relevant where Stock Update Nominal is in use and you have selected the Update Landed Costs option when posting a Sub Analysis Transfer.
When processing Stock Take and Sub Analysis Transfer transactions, when you click on OK, to save the movements, an Update window is displayed.
The options are similar for both processes.
The Adjustments menu enables you to select a movement type for this transaction: Sales; Purchases; Write Offs; Adjustments or Opening Balances.
You should enter a Reference and Date for the update. Default values will have been entered in these fields; the reference will be 'STOCK TAKE' or 'TRANSFER' depending on the process selected and the date will default to the System date.
For Stock Take, the Period and Year into which the Transactions are to be posted, is the same as selected on the Stock Take selection window and cannot be changed.
For Sub Analysis Transfers, the Period and Year default to the current Nominal Ledger period and year and cannot be changed.
You have the option to Batch the Movements, and/or Update Landed Costs. Tick the options you require.
For a Stock Take transfer, when you are using Update Stock to Nominal, you can select not to update the Nominal Ledger with these transactions.
Click OK, to complete the transfer process.
The system will generate the transactions.
Batch - If you select to Batch, a field will be displayed for you to enter the Batch Reference.
For Sub Analysis Transfers, if you change the transaction whilst it is in the batch, the From and To figures must remain in balance.
If Landed Costs are involved - You must ensure that you select the Update Landed Costs option.
When posting a Stock Take transfer, the Landed Costs will be adjusted with the physical stock.
An increase in physical quantity is treated as a Movement In and the individual Landed Cost Lines are used to calculate the landed costs..
A decrease in physical quantity as a Movement Out and landed costs are adjusted at the Average Cost.
When posting a Sub Analysis transfer, landed costs will be moved with the sub analysis stock.
The FROM transfer is treated as a Movement Out and the Landed Cost transaction drill down is updated and the Actual Landed Costs values are reduced.
The TO transfer is treated as a Movement In and the Landed Cost transaction drill down is updated and the Actual Landed Costs values are increased.