How to perform a parts stocktake

Completing regular part stocktakes are crucial to ensure your business reports the correct inventory value and reflects the correct quantity on hand figures for individual parts.

1. In the Parts Management tab, click Stocktake Manager.
   
   
   
2. Click New.
   
   
   
3. Click Yes.
   
   
   
4. You have the option to complete smaller stocktakes by limiting Franchise, Group, or Location. To run a stocktake for all parts, leave these fields blank. Select a Sort Order (how the parts will be displayed in the next screen). Click OK.
   
   
   
5. A warning message will pop up, explaining that a snapshot of your parts have now been taken, and if any parts are sold or receipted between now and until the stocktake is finalised, you will need to take these into account.
   

   For example: When you start the stocktake the system records 10 QOH for a part. In reality, you actually have 5 QOH for this part. If you sell one of these parts prior to the stocktake being committed, you will still need to record 5 QOH for the part, as the sale will minus 1 from the QOH also.

   
   
   
   
6. Click Reports, then click Stock Sheets. This report will list the parts in the same order as displayed on the screen, as well as an area to write down the part quantities.
   
   
   
7. To enter the QOH for each part, enter the Part Number or scan the Barcode in the top of the screen, and enter the QOH counted. You can also assign a Location for that part. Click Insert New Qty to record the quantity for that part.
   
   
   
8. Alternatively you can enter the part QOH in the Qty Column in the list below.
   
   
   
9. The Search field at the top allows you to search the list for a particular part, using either the Page Number or the Part Number.
   
   
   
10. The charts below display the Total Parts, how many parts have been Committed/Uncommitted, and how many parts have been Counted/Uncounted.
    
    
    
11. If at any point you wish to exit the stocktake and return later, click Save & Close to save the count so far, or Commit & Post to commit the part quantities entered so far. 
    
    
    
12. Once you are certain all parts have been counted, click Zero Uncounted. This will give any parts not counted yet a new quantity of 0.
    
    
    
13. You should now run your stocktake reports. Click Reports, and then select which report you would like to run. The Shortages Report will give you a summary of what parts have changed. The Variance Report will display the dollar figure differences. The Stocktake Summary will give you an overall view of the stocktake.
    
    
    
14. Click Finalise Stocktake to complete the stocktake process.
    
    
    
15. Click Commit & Post Now to commit your quantity count. Select the Commit Date, and click Commit & Post Now.
    
    
    
16. Click the remaining tick boxes, then click Finalise Stocktake.
    
    
    

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Why is my parts quantity negative or different than expected after a parts stocktake?