AugTool Documentation
Stock Take
Many stock take processes within ERP systems require warehouse operations to be suspended or business activities to be halted in order to perform and complete a stock take. With Augtool’s Live Stock Take functionality, operations can continue uninterrupted while the stock take is being conducted, ensuring minimal disruption to day-to-day business activities.
This is achieved by recording the start date and time of the stock take, either directly within the system or via an Excel document upload. During the stock take process, the system automatically accounts for any inventory transactions that occur between the commencement and completion (or upload) of the stock take.
Once the stock take data has been captured, the system analyses the entered quantities and compares them against the expected stock levels at the exact recorded time. This enables the system to accurately calculate and report any variances between the counted stock and the system’s expected quantities.
Creating a stock take
To create a stock take, navigate to Stock > Stock Takes.
This screen displays all stock takes currently captured in the system. The available stock takes can be filtered using the filter fields located in the header section.
To create a new stock take, select the relevant business unit in which the stock take is to be performed (1) and then click the Create button (2).
After clicking Create, the Stock Take Creation screen will be displayed.
The user is required to select the warehouse in which the stock take will be conducted, as each stock take can only be linked to a single warehouse. If stock takes are required across multiple warehouses, separate stock takes must be created for each warehouse.
The Reference field is a free-text field, allowing the user to enter any reference that is meaningful and relevant to the stock take.
The Stock Adjustment Account is the account used to record the deficit or surplus in stock as an expense or an income.
Once all the required fields have been completed, click the Submit button to create the stock take.
Setting up a stock take
Once the stock take has been created, the Stock Take screen will open in View Mode. At this stage, no items have yet been added to the stock take.
To add items to the stock take, click the Edit button (1) to switch the screen from View Mode to Edit Mode.
The Edit Mode screen allows the user to add items to the stock take, including inventory items, batched items, serialised items, and supplier consignment stock.
When clicking on an Add button, the following selection screen will appear. The header section of this screen allows the user to filter and search for specific items if required.
To add selected items to the stock take, the user can tick the checkbox on the left-hand side of each item (1) and then click the Add Selected button (2).
Alternatively, the user can click the Add All button (3) to add all items in the list to the stock take.
Stock take process (On the system)
After adding items to the stock take, the stock take line items will be populated automatically.
The Old Unit field (1) reflects the quantity currently recorded in the system.
The New Unit field (2) is the field in which the user will enter the physical count quantity. It is important to note that when a quantity is entered in the New unit field, the Timestamp (3) field will automatically be populated by the system.
The Save as Draft button (4) allows the stock take to be saved while still permitting additional items to be added at a later stage.
The Post button (5) saves and posts the stock take, after which no further items can be added.
The Start button (6) initiates the stock take process and records the date and time at which the stock take commenced. The system will then take into account any stock movements resulting from other transactions that occur after this recorded time.
The Complete button (7) should be selected once the stock take has been finalized. The system will then generate the necessary stock movements based on the values entered in the New Unit field for each line item as well as any GRV's or delivery notes that occurred for that item during the stock take.
Below the New unit field (1) is entered and the Timestamp field (2) automatically populated by the system.
The stock movements generated by the system can be viewed by clicking on the Stock Movements icon (1).
The stock movements pop-up displays the stock adjustments the system generated based on the stock take quantities as well as any GRV's or delivery notes that occurred during the stock take.
Stock take process (On Excel)
The stock take can also be exported as an excel document. The stock should be in started status to be exported, this will assist with the timestamps working correctly with other transactions in the system during the stock take. To export to excel click the export button on the view mode of the stock take.
The Excel will have the items selected for stock take on the rows. There is a macro on the Excel that automatically enters the Timestamp (1) when the New Unit (2) is entered. Should the macro be disabled due to security settings, the user will have to enable macros in Excel settings or unblock macros on the Excel file properties.
The user is only required to enter the New unit cells (2). The macro will then enter the Timestamp (1).
The user then saves and uploads the excel by clicking the import button (1) on the stock take.
This will populate the stock take. It is not advised to change the figures here because you will essentially be changing the New Unit figures at that TimeStamp.
The user can then complete the stock take. The stock movements can then be view by clicking on the Stock Movements button (1).
This displays the adjustments created by the stock take.—
Stock Take (Perpitual vs periodic stock)
In a perpetual inventory system, inventory levels are updated continuously whenever stock is bought or sold. During a stock take, any shortages or surpluses found are adjusted directly against the Inventory account, with the difference usually recorded as an inventory gain or loss in the income statement.
In a periodic inventory system, inventory is not updated continuously. Instead, the stock take determines the closing inventory balance at the end of the accounting period. The closing stock is then used to calculate Cost of Goods Sold account by adjusting the Purchases account, opening inventory, and closing inventory.
Conclusion
The stock take process can be performed without interrupting normal business operations. Upon completion of the stock take, the system will automatically generate the necessary stock adjustment entries. Please note that once a stock take has been completed, it cannot be rolled back to draft status. It is recommended to use the Stock Level Report during the stock take process to monitor and verify stock quantities.