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Inventory Functionality

Stock Audit

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STOCK AUDIT

  • Stock audit is a periodic process in a stock point to measure the accuracy, value and stock existence.Comparing system stock with actual physical stock provides a clear picture of gaps present that hampers the movement of items. The level of damage or theft in a store can be easily analyzed. It is believed that during the verification process, no stock movement takes place in store to maintain the physical stock accuracy. Any deviation in the reports generated should be identified by the authority and immediate action eliminates drawback. Once Stock Audit is completed, the negative Stock Quantity will be automatically updated.

1. Stock Plan

  • To conduct an audit, a plan is necessarily created. The Stock Plan includes all the items that are included under the Stock Audit. Basically a plan describes the items under a department that are to be physically checked group wise. Each plan will be given a name thereby ensuring no redundancy occurs. Once a plan is created, the status is changed to NEW. While making entries, the status should be changed to ACTIVATED.
  • Once activated, Sales billing, GRN, Transfer Stock are not possible. VERIFICATION status indicates the Stock is being counted.

  • The updated entries can be made by changing the status to UPDATE. The plan is ensured complete after finalizing the Stock entities with the latest updates. Once COMPLETED, the process cannot be reverted but only a new plan has to be created. Status denotes the level of Auditing.
    Inventory-> Stock Audit -> Stock plan
    The stock plan form will look like this.

s

SI.NO

FIELD NAME

DESCRIPTION

1

Plan Name

Enter the plan name

2

Stock Point

To be selected by pressing F2.

3

Division

To be selected by pressing F2.

4

Section

To be selected by pressing F2.

5

Department

To be selected by pressing F2.

6

Category 1

To be selected by pressing F2.

7

Category 2

To be selected by pressing F2.

8

Category 3

To be selected by pressing F2.

9

Category 4

To be selected by pressing F2.

10

Category 5

To be selected by pressing F2.

11

Category 6

To be selected by pressing F2.

12

Vendor name

To be selected by pressing F2.

13

Audit on

Enter the date of auditing.

14

Ok

Click ok to

15

Clear

To clear the stock details.

16

Status

Select from drop down,

17

Search

Select the status and click on search

18

Save

To save the stock plan.

19

Exit

To close the window.

2.Stock Entry

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  • After you create the stock audit plans, stock entry is the next step. When entries are made, the status is changed to ACTIVATED in the Stock Plan. Stock Entry involves creation of Packages on the products listed under the Stock Plan. Entries made under each plan will ensure the comparison between actual and the system quantity.
    Inventory-> Stock audit-> Stock entry.
    The stock entry form will look like this.

SI.NO

FIELD NAME

DESCRIPTION

1

Package No

It will be generated automatically.

2

Plan Name

To be selected by pressing F2.

3

Scan Barcode

Enter the barcode.

4

Edit Qty

To edit the quantity

5

Import Excel

To import excel.

6

Delete

To delete.

7

Save

To save the details.

8

Clear

To clear the details.

9

Exit

To close the window.

3.Stock Adjustment

  • The system automatically generates a stock adjustment document which is made to adjust the stock positions for the items. The physical quantity and the system quantity against a plan can be differentiated here. Any discrepancies in the system quantity can be identified and adjusted to the physical quantity in the Stock Adjustment form.


SI.NO

FIELD NAME

DESCRIPTION

1

Adjustment No

It will be generated automatically.

2

Stock Point

To be selected by pressing F2.

3

Remarks

Enter the description of item you want to add.


4

Clear

To clear stock details.

5

Exit

To close the stock adjustment window.

END