Archive / 2.02 Stock Count

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Planning for the stock count

When planning for a stock count, it’s important to agree on the timing with the needs of the business and accounting. It’s also crucial to agree on items which are to be counted, teams counting and other relevant procedures, i.e. how exactly this counting should be performed.  (more…)

General considerations

General considerations that should be made for a stock count revolve around items themselves. The key questions that need to be answered are as follows:  (more…)

Stock count

Why would you perform a stock count procedure? There are two reasons you might and should do it. Remember that stock count is not just for the ‘checkmark’, but for actually providing the company’s accounting and management with relevant information – accurate positions in stock and understanding whether there’s anything missing (that is there haven’t […]

Dealing with stock count differences

Stock count differences occur, that’s part of the nature of the inventories and the procedure – to identify if any of the positions differ from the physical count. It’s what you do with the results afterwards that matters.  (more…)

Stock counts more often than just once a year

Owning inventory means that you need to count for it – both to ensure that it’s really there physically and also that what’s physically existing, is also accounted on the inventory ledger and hence also on the balance sheet. Whilst we’ve covered the general gist of stock counts, what we have not covered, are partial […]

Planning for stock count

Planning for inventory stock count is very dependable on inventory type and locations. If it’s just one warehouse and only similar type of goods, it’s more or less easy. You can do it in one day and be done with it. However, in case there are various locations and / or different types of inventory, […]

Counting sheets

When performing the stock count, people doing it need to be able to write down the amounts they have counted. While writing essentially isn’t a problem, a few things need to be kept in mind when dealing with sheets the results are written onto. Since you want the whole process to be as fair and […]