Complete Stock Check

For businesses that extensively use our inventory tool, checking stock counts is essential. This feature is particularly helpful for conducting weekly, monthly, quarterly, or yearly inventory assessments. In this article, we will guide you through the steps to mark a stock check as completed.

Things to know:

• To learn how to create a stock check please click here

• When a product count is added, the following fields are updated:

  • Not Yet Counted: Displays products that have not been counted yet.

  • Counted: Shows products that have already been counted.

  • Quantity Counted: Reflects the total sum of quantities for all counted products.

• After completing a stock check, inventory is updated based on the quantity entered in the "Add Count" field

• If the "Show Expected Count" checkbox is selected when creating the stock count:

• The Over and Short columns display discrepancies—showing how many items are over or short

• The Over Variance and Short Variance columns show the total cost of the excess or missing items

• If no changes are made to the "Add Count" field and the stock check is completed, the system updates inventory accordingly

• Shortage Example:

• If the current back bar inventory is 30 items, but 20 is entered in the "Add Count" field, the system detects a shortage

• The discrepancy appears in the Short column

• If the count is confirmed without adjustment, the inventory updates to 20 items

• Overage Example:

• If the back bar inventory starts at 30 items, but 40 is entered in the "Add Count" field, the system detects an overage

• The discrepancy appears in the Over column

• If the stock check is confirmed, the inventory updates to 40 items

• If the "Show Expected Count" checkbox is unchecked when creating the stock count:

• The Short/Over columns will not be displayed

• Once the stock check is completed, the inventory updates directly to match the "Add Count" field

• You can enter the quantity of stock counted in the "Add Count" field using fractional amounts, such as 0.05. This feature is governed by the "Enable Fractional Quantities" setting. Please note that if this setting is not enabled and you attempt to enter a fractional amount in the "Add Count" field, you will receive the following error message: Value must be a whole number.

Once a stock check is created, it can be completed by:

1. Navigating to POS > Inventory
2. Select Stock Checks on the left panel
3. On the stock check page, select the “Start Counting” button next to a stock check
4. From the count page, you can see a paginated list of all SKUs to count, with information on the progress of the stock check. Select the “Add Count” link next to each item
5. Enter the amount that you counted in the Add Count field. If the stock is short or over, you can add a note in the discrepancy field.                                                                                                                                                                                                                                                                                                  
6. Save
7. Repeat this process until all items are counted
8. Once all items are counted, select “Submit Count”
9. You will see the last summary before completing the check                                                                                    
10.  Click the final "Submit Count" button, which will close the stock check for future editing. It will be tagged "Completed".

For more information, contact support@mytime.com.