The following will advise on how you can do a stock take within Phorest. We will also show the reconciliation report that can be generated on stock takes.
Looking for the Mobile Version?
If you're looking to do an inventory count on Phorest Go on your mobile or iPad, check out this guide.
Video Guide
Step-by-Step Guide
To start, go to Manager > Inventory Count/Stock Take, then click on Do Inventory Count/Stock Take.
Enter a Description and click on OK.
Typically, the best practice when adding a Description is to clarify which product selection is counted and by which staff. E.g. Retail Wella Katie.
Entering the Product Quantities
Use the filters at the top of the screen to filter to a particular Brand/Category/Supplier if you need to, then single-click the field in the Quantity column and enter the quantity for each product.
Repeat the step above for all products included in the count. Click Save when finished.
Applying Your Stock Take/Inventory Count
After clicking Save, you will be given the option to immediately apply your inventory count or not.
Click NO (recommended) if not ready to make any changes to the overall quantities in the product list and would like to continue it at a later time.
Click YES if you're happy to apply. Your product quantities will be updated immediately after applying.
It is recommended to click No at this point, as you can follow up by running a reconciliation report to note discrepancies between current quantities and quantities in your count.
If you select NO, you can return to your inventory count by double-clicking it. You can continue editing each product Quantity, meaning you can count your products in batches rather than all at once.
You can also resume the inventory count on Phorest Go, making it easier to update quantities while on the move.
Pending inventory counts will stay White while completed inventory counts will be colored Green.
To apply a pending count, single-click it and then click Apply Inventory Count/Stock Take. Your product quantities will be updated immediately after applying.
A Quick Inventory/Stock Take indicates that an individual product's inventory count was manually updated in Manager > Inventory/Stock, rather than doing it through Manager > Inventory Count/Stock Take.
Reconciling Your Count and Noting Discrepancies
You can single-click your inventory count, then click the Reconciliation button to run a reconciliation report. This will highlight if there are any discrepancies between the counting and what the system has on record.
The Reconciliation Report will be generated to show you the following details.
System Stock: This is the quantity the system had in stock before you created or applied an Inventory Count/Stock Take.
Stock Take: The quantities you entered in this count.
Difference: The difference between the product quantities before and after the count.
Differential Cost Value: This is how the system calculates the cost of the difference in stock. Cost Price values need to be entered on your products in order for this to be calculated.