Stock – Stocktake And Other Quantity Adjustments.
Purpose:
Whenever discrepancies are found in stock quantities stock should be corrected using the stock adjustment form.
Stocktaking should be performed periodically to:
- Identify missing items.
- Check items are in the correct location as recorded on the system.
- Ensure stock remains in a saleable condition.
- Validate the accuracy of computer records.
For small stocks held in a small number of locations it may be feasible to count all stock regularly. For larger, multi-location stockholdings, Cycle Counting (also known as Perpetual Inventory) may be a preferable option. Pre-selected samples of stock lines are counted regularly in accordance with a strict programme, designed to count total stocks held at all locations at least once every financial year. Your Accountant and/or local Prelude distributor can advise you if required.
Use the Stocktake Adjustments process to adjust the quantity for a number of stock Lines following a stocktake.
Processing:
On the main menu click Stock > Movements > Adjustments for the correction of occasional discrepancies or > Stocktaking to open form.
Complete the form – see Adjustments or Stocktake form below.
Click OK to update records, and;
Print transaction as required – see Printing Reports.
Close form.
Stocktake filing:
File report of transaction with other stocktake papers. Obtain and record authorisation to make adjustments.
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Date: Either: Manual entry formatted as DD/MM/YY. Type over the parts of the date you wish to change – the system will skip over the “/” part itself. If the date you enter is invalid; the cursor will return to the start of the date and await a valid entry, or;
click on the field to highlight data – white on a blue background – then right click to open the Calendar Menu – see Dates and Calendar.
Reference: Mandatory. Enter a unique reference to identify this transaction.
Quantity: Enter value to increase stock or negative to reduce stock
OK: Display Warning Message box – Stock could go below minimum level/Negative –
Click Yes to accept and update record or;
Click No to return to form without update.
Message Box opens – Print transaction? – Click Yes to open Select Output form.
Select Print/printer to use/Display/export report to a specified file format. Click OK to Print/Display/export report. or…Close form.
Record is updated and transaction appears on Stock Enquiry form.
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The form opens allowing you to select stock to be adjusted. Preload Stock displays stock quantities for all stock so you can amend as necessary.
Either Pre-load Stock before opening form or select each stock item and enter adjustment depending on whether it is a full stock-take or a sample selection.
If a sample stock-take add each line and click OK when finished.
Reference: Mandatory
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