Stock takes are an essential stock control tool to ensure you stock counts and value are as accurate as possible.  Stock takes can generally be broken down into two categories,  full and partial, with the only difference being the full stocktake will reset anything not counted to zero.

  1. Stock -> Stock Takes
  2. Click the +Add Stock Take button
  3. Complete the required fields used to track the stocktake: 
    1. Stock Count Name - Name used to identify stocktake
    2. Effective Date - FIFO date the stocktake will apply to the counts
    3. Warehouse - warehouse the counts will be applied to.
  4. Click Download Import Template button to get a current stock count sheet pre-formatted with the current products and SOH.
  5. Conduct a physical stocktake and update the "Quantity" column on the downloaded stock count sheet.  You will also need to separate your counts per warehouse and upload separately, choosing the relevant warehouse from the dropdown each time.    
    1. Partial stocktake - Only the counted products need to be uploaded from the spreadsheet.   This will ensure any uncounted products retain their existing SOH.
    2. Full Stocktake - Ensure include all items and set anything NOT counted to 0 count.    This will ensure any exisiting SoH for not counted products is adjusted out.
  6. Once the count is complete, choose the stocktake csv file via Choose File and click Upload Stocktake to apply the counts.

Stocktake Best Practices:

  1. Ensure that the stock take process does not allow products to be counted twice.   Using stickers on counted products/shelving is a great way of preventing this and keeping track of progress on large counts.
  2. When conducting a full stock take, you need to count each warehouse/location on separate sheets.  Remember the count/product sheet will be exactly the same for each warehouse, the only difference will be the counts.
  3. Ensure that you have the correct unit cost for each counted product to ensure the total SOH value in Xero is correct.  It is highly recommended that no products are adjusted in at $0 cost as this will adversely affect the SoH value, COGS and profit reporting.   If you do not know the unit cost of a particular product, it is recommended that you use available pricing in the following order of priority:  
    1. Last cost
    2. Average landed cost
    3. Suppliers price