Once all the stock on hand counts have been entered, it is then necessary to account for any discrepancies that have arisen. This is done by calculating the closing stock based on the last stock take, all sales, adjustments and invoices that have been entered. The difference remaining is referred to as the stocktake variance. So, it is important to cross-check the prior entered amounts before accepting any difference as a stocktake variance. Once all known reasons have been accounted for it is then necessary to adjust any outstanding descrepancy with a stocktake variance reason by transferring stock in/out so that the Stock on hand equals the physical stock count. This allows the next stocktake to start from a known position.
This amount may exist for the following reasons:
Miscounted stock items during the physical count,
Wastage that was not accounted for,
Invoices that may have not been entered or incorrectly entered,
Sales being incorrectly sold or not sold through the software,
Incorrectly configured recipes,
Theft by staff,
plus others.
There are two ways to enter the stocktake variances which MUST be entered via the Stocktake menu.
Attempt to adjust all discrepancies automatically, (this will work for most items), or
Adjust each item manually. This is required if you need to provide more than one reason for the discrepancy.