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.
To start, go to Manager > Inventory Count/Stocktakes, then click the New Stocktake/New Inventory Count button.
Enter a Description and click Continue. Typically, it's best practice to clarify in the description which product selection is counted and by which staff.
Entering the Product Quantities
To filter to a particular brand, category, supplier, use the filters at the top of the screen as needed. Then, single-click the field in the Quantity column and enter the quantity for each product.
Applying Your Stocktake/Inventory Count
Repeat the step above for all products included in the count. Click the Save Draft button 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. Also, you can follow up by running a reconciliation report to note discrepancies between current quantities and quantities in your count.
Click the Save & Apply button when you're happy to apply the stocktake and have product quantities immediately updated.
The Status column shows whether inventory counts are saved as a Draft or have already been Applied.
To continue adding quantities, hover over a draft stocktake and open it. Do not click the checkbox or the Description.
To finalize a Draft count, select it and click the Apply Inventory Count/Apply Stocktake button.
You can also resume the inventory count on Phorest Go, making it easier to update quantities while on the move.
Individual counts manually updated through Manager > Inventory/Stock, rather than Manager > Inventory Count/Stocktakes, will display a Description of Quick Inventory/Stock Take.
Reconciling Your Count and Noting Discrepancies
You can select your inventory count, then click the Inventory Reconciliation / Stock 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.