The purpose of this document is to give complete instructions on how to use the Stocktake module of the Infusion Software.
This document should be read in conjunction with the Infusion Help Manual particularly the Products section. This is found in Infusion under the Help Menu or by simply pressing F1.
There is a PDF attachment to download at the bottom of this article.
The purpose of a Stocktake is to verify stock levels and stock valuations by physically counting stock. Upon updating the Stocktake, stock quantities are adjusted to reflect the physical count.
The Stocktake verification is taken as at a certain date, and is assumed to be taken after all transactions for that day ie at the end of the day.
Normally a Stocktake process is started at close of business, staff complete the count and then return to normal processing the following day. Over the next days/week the physical count is entered into the system, and the Stocktake is checked by running various reports. When fully satisfied that the adjustments to be made are correct, the Stocktake is updated. Stock quantities will now reflect the Stocktake count, plus all stock movements (purchases, credits and sales) made after the Stocktake date. Only one Stocktake can be processed at a time and only for one location. The Stocktake can be a full or partial Stocktake.
The Stocktake of Serial Tracked products are done individually and are not part of the main Stocktake. However, the Stocktake Audit Trail will report all adjustments made.
Inactive products are not included.
In the Appendix there are examples of the screens and reports which you will become familiar with when processing a Stocktake.
If you use kitsets that are ticked to Use When Invoiced you will see the Components only on the stocktake. If they are set to Use When Received into Stock you will see the Kitset Code on your Stocktake and the components.
Before Starting a Stocktake
Review all pending invoices and credits which are dated on or before the Stocktake and process or delete as necessary. By changing the date of any pending invoice, this will take them out of the Allocated column and out of the stocktake if you have already started a stocktake. Posting pending invoices with the stocktake being open, will not alter the count or allocated totals but it will alter the snapshot total. The Stocktake system assumes that in the case of pending transactions the stock movement has occurred already ie for pending invoices the stock has already been removed from the bin or shelf in the store / warehouse, and for pending credits the stock has been returned to the bin.
Review and post any saved Product transactions; Transfers, Write Offs, Manual Sales Adjustments, Receipts, as these are not included in the Allocated column. The quantities are included in the Count and Snapshot figures as these transactions have not been posted.
Ensure that your business practices mirror these important assumptions
Note however, that a Product Valuation report done at this time assumes that allocated quantities (pending sales) are still held in stock and would include them in the Product Valuations totals at latest and average cost. See Appendix 1.
It is also important to be sure not to process any new invoices with a date of or earlier than the stocktake as this will also affect the count. It is possible to process invoices but with a date after the stocktake.
From Products / Utilities / Check Product Integrity before starting the stocktake
Entering the Stocktake
You start a Stocktake from the Products Menu / Stocktake / Enter Stocktake
If there is no Stocktake already in progress, you will see this message. To begin a new Stocktake answer Yes and the next screen will require you to confirm the Location and Date of the Stocktake.
You will also have to enter the product selection parameters which will determine if a full or partial Stocktake is being performed.
you will have to confirm the selection.
- Once a Stocktake has been started, these parameters cannot be changed.
- If changes are required you would need to Cancel the Stocktake and start all data entry again.
- A record of the Stocktake Parameters is created in the Audit trail.
- If you do not receive the message “Do you wish to begin a Stocktake now?” it means there is a Stocktake already in progress.
- Always check the Stocktake Date in the top right hand side of the screen.
- Check with other users if you have any concerns that the Stocktake is not a valid Stocktake. Check the Audit Trail to see who started the Existing Stocktake.
- If you know that it is not a valid Stocktake, then exit and Cancel Stocktake; you will receive this message:
Responding Yes will cause the Stocktake to be cleared out, and no updating will occur to product balances.
Viewing the Stocktake Screen
The first time you enter a Stocktake the system will display the selected stock items from the selected location.
The quantity in the Snapshot column is the quantity that the system calculates as being “in stock”. This is copied into the Count column the first time the Stocktake is entered. It is important to Save to ensure this first Copy S/Shot is kept.
Did you know - By right clicking in the Count Column you can open the Product.
Where there are pending invoices and/or credit invoices dated before the Stocktake there will be quantities in the Allocated column, and the snapshot column will be reduced by the amount of the allocation eg if there are 14 items on hand and there are pending invoices for 3, then the snapshot will be 11. If there are 0 items on hand and there are pending invoices for 3, then the snapshot will be -3.
Note that if the allocation is a negative amount, the snapshot is increased eg if there are 5 items on hand and there is a pending credit for 1, then the snapshot will be 6.
Also note that any pending invoices and credits dated after the Stocktake are not included in the Allocated figure.
Entering the Count Manually
When you are ready to enter the Stocktake count, the count values are entered into the Count column, and the system will display any differences in the right-most column.
- You may prefer to Zero Count – ie clear out the Count column and then enter the Stocktake values from ‘scratch’, rather than overtype the values which the system has calculated.
- You can use Copy S/shot (Copy Snapshot) will restore the system calculated ‘in stock’ or snapshot figure to the Count column – this is useful if several errors have occurred during data-entry.
- The count can also be entered in Batch Entry mode; this is where the user enters the Product Code and then the Quantity Counted. These entries are cumulative – ie the count is incremented each time by the figure entered as Quantity Counted. Entry of a blank Product Code will end this process.
Importing a CSV
The final entry method is to Import the counts from a CSV file. Two file formats are supported. Both must contain just 2 columns. The file STKTAKE must contain the Product Code and the STKTAKE Quantity Counted while STKTAKEB must contain the Barcode and Quantity Counted. The file must exist within the Infusion folder.
If the Product Code exists in both the stktake.csv (or stktakeb.csv) file and the Stocktake, the count is altered to the Quantity Counted in the .csv file. If the Product Code exists but there is no entry in the imported file the count in the Stocktake file is not altered. If the Product Code or Barcode exists only in the .csv file the Stocktake will not be altered. An exception report will list any entries in the .csv file which have not been imported.
Use Cancel Stocktake to completely clear the Stocktake away. Note that appropriate warnings are given. Details of who cancelled the Stocktake, the Date, Location and time are recorded in the Audit Trail
Update Stocktake will update the Stocktake, putting adjustments into the Product transaction files and updating balances, and clearing out the Stocktake figures ready for another time. This should be done only after reports have been run and checked. Details of who processed the Stocktake, the Date, Location and time are recorded in the Audit Trail.
Dates and Stocktake
During a Stocktake any new processing dated on or before the Stocktake, will affect Stocktake figures and make reconciliation difficult.
A partial Stocktake can be taken any time, and only a small selection of products is counted. It is important to note:
- the Stocktake must be dated the day before the physical count.
- take care to note all sales, receipts or credits made of the products in the Stocktake selection set, and ensure the physical count is adjusted to reflect the count as at the end of the day before.
- As always, the variance report must be run before updating, to ensure that only the products that were counted are updated
After the stocktake has been entered
Prior to updating the Stocktake it is important that various reports be run.
The most critical is the Stocktake Variance report. When the Stocktake is updated the Product Valuation is increased (decreased) by the amount which is the total Latest Cost Variance. This report should be run immediately before the Stocktake is updated to confirm what the financial result of updating the Stocktake will be i.e. the Product Valuation before + the Stocktake Variance should equal the Product Valuation after (ignoring Serial Tracked Products)
The second report which is very useful is the Stocktake Valuation report – this can be run in summary or detail mode.
NB if you are seeing Products in your Variance Report that were not part of your current Stocktake, these may be from a previous stocktake that was open during an upgrade. You will need to call your Certified Partner or Infusion Support to remove these values.
After the Stocktake
Once a Stocktake is updated it is possible to report what adjustments were made using the two reports Stocktake Audit Trail – By Gain/Shortage and Stocktake Audit Trail – By Group.
Individual Product adjustments can also be seen on the Product Enquiry screen.
Stocktake Sheets and other Reports
All Infusion reports can be previewed and the output directed to a printer, to a Word document, to Excel or to a PDF document. This is especially useful if you wish to retain a file copy of the original Stocktake sheets, with allocation figures.
Stocktake sheets can list the Products by Bin Location (physical location) or by Product Group. If “Show On Hand Balance” is ticked the sheets will include figures for On Hand, Allocated and Expected. The Stocktake Sheets have columns for 2 counts.
Stocktake Variance Reports
The Stocktake Variance reports can list products by Bin Location or by Product Group, and these reports list only those Products where the count differs from the expected count.
The reports show: Qty Before, Valuation, Allocated (qty), Counted Qty, Total Qty After (i.e. with the Allocated Qty added back in), Valuation, Variance (qty) and the Variance Value ($) at Latest Cost.
Stocktake Valuation Reports
The Stocktake Valuation reports can list products in Detail or in Summary, and will list products by Bin Location or by Product Group. An option will allow you to see Consignment Stock. The detail reports list all Products in the Stocktake and show: Quantities Allocated, Counted and In Stock plus the Value ($) at Latest Cost and at Average Cost. The Summary reports show, by Bin Location or Product Group, the totals of the Value ($) at Latest Cost and at Average Cost of the Stocktake Products
NB: The Stocktake Valuation Report does not include Serial Tracked Items, so the Grand Total may differ from the Grand Total on a Product Valuation Report.
Stocktake Audit Trail Report
The Stocktake Audit Trail reports show all Products which have been adjusted for a Stocktake variation (gain or loss) between the date ranges nominated. The report shows the Product Code, Description, Stocktake Date, the Adjusted Qty, and the Latest Cost for the Products and the Total Value of the adjustment using Latest Cost.
This can be used to report a main Stocktake and the Stocktake of individual Serial Tracked Products.
The report ‘- By Gain/Shortage’ lists firstly the products where the ‘In Stock’ was adjusted upwards in and then those products where the ‘In Stock’ was reduced.
The report ‘- By Group’ lists the products in Product Group order.
Summary of Reports to Print
Printed prior to Stocktake:
Product valuation report from the Valuation menu (A)
Printed during Stocktake (before Updating):
Variance report (B)
Stocktake valuation report
Printed after Stocktake (after Updating):
Audit Trail report
Product Valuation report (C)
A + B = C (ignoring Serial tracked Items)
Stocktake of Serial Tracked Products
The Stocktake of Serial Number Tracked Products is performed separately from any other Stocktake. It allows a user to Stocktake just one Serial Tracked product at a time, and there are no reporting functions other than the Stocktake Audit Trail Report.
Stocktake sheets can be printed and this listing will show the serial numbers it has recorded as being available for sale.
Select the appropriate Location and Product. Enter the Quantity Counted against the associated Serial #.
Use the Add Serial # button to add a new Serial Number for the product.
Use the Update button to save the Stocktake count and details for this Serial Tracked product.
Use the Exit button to exit, but note that all entries / changes are lost.
When you return to the front screen use Cancel to finish processing.
Right Click Stocktake
Available by right clicking on a product, all Locations are available in a single screen.
This transaction is recorded in the Stocktake Audit Trail.
Products that are set to not track quantities, Serial Tracking, Inactive Products, Kitsets set to Use when Invoiced do not have this ability. You are unable to use this if a stocktake is in progress with this product in it.
Product Valuation Report
Note: allocated quantities are included in the Product Valuation Totals.
Stocktake Entry Screen
When entering a Stocktake for the first time the snapshot has been automatically saved on Exiting.
Note that allocated quantities are not included in the expected count for the Stocktake.
After the physical count has been entered there will be values in the Difference column.
Note: The On Hand, Allocated and Expected quantities can be included on the Stocktake sheets.