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.
Stock takes in WorkGuru are based around downloading an up-to-date count sheet and using that to update the Quantity and/or the Cost of the products that physically exist in your warehouse.
From the stock take dashboard in WorkGuru (Stock -> Stock Takes), click Add Stock Take.
Click Download Import Template button to get a current count sheet pre-formatted with the current products and stock on hand from the selected warehouse. Note: This step is not required if you are creating a count sheet manually using the supplied template or template headers.
This is the count sheet you will use to record the stocktake. It is optimised to be opened in a collaborative spreadsheet tool like Google Sheets or Excel for Web, so multiple users can be counting live without having to collate paper copies at the end of the count. Note: Even though the count sheet is the same for all warehouse locations, It is important that you either download separate, or make copies for an individual stocktake for each warehouse.
Conduct a physical stocktake and update the Quantity column on the stocktake count sheet. You will also need to separate your counts per warehouse and upload separately, choosing the relevant warehouse from the dropdown each time.
- Partial stocktake - Only the counted products need to be uploaded from the spreadsheet. Remove/delete any uncounted product rows from the count sheet. This will ensure any uncounted products retain their existing SOH.
- Full Stocktake - Ensure all items are counted correctly and then set the quantity of anything NOT counted to 0 (zero). This will ensure they exisiting SoH for products not counted products is adjusted out.
You also have the ability to update the counted product's unit cost if required. Update the Cost column to set a different unit cost from the product's current default cost price. This lets you control the total value of counted products (unit cost x quantity).
Once the count is complete, click Add Stock Take from the stock take dashboard.
Enter the stocktake details
- Stock Count Name - Name used to identify the stocktake.
- Effective Date - FIFO date the stocktake will apply to the stock movements.
- Warehouse - Warehouse the counts will be applied to.
- Choose file - Select the stock count sheet. Note: Ensure you are choosing the count sheet that matches the selected warehouse!
Review the stocktake details and click Upload Stocktake to apply the counts. The stocktake can be checked in the product's stock movement history in the stock dashboard and will now display in the stocktake dashboard.
If the stocktake includes adjusting out missing stock on hand (quantities counted are less than current stock on hand), it is recommended that once the stocktake has been applied, click Force Recost from the stocktake dashboard. This will ensure that the value of the products adjusted out via the stocktake will be their landed cost.
RecoStocktake Best Practices:
- 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.
- 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.
- 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:
- Last cost
- Average landed cost
- Suppliers price