Inventory > Performing stocktakes
When you set up your company file, you can enter your opening inventory quantities using the Count Inventory window. You can also use the Count Inventory window to make adjustments to item quantities during regular stocktakes or any time you find discrepancies between the actual quantities of items on hand and your records of those quantities.
Each inventory adjustment must be allocated to an account so your accounting records accurately reflect the reasons why your inventory needed adjusting. For example, you can use an expense account called ‘Shrinkage/Spoilage’ to track natural loss or theft of items.
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[AccountRight Enterprise only] Make sure you record any inventory movements between locations before counting your inventory. For more information, see Inventory locations.
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Make sure you record any inventory transfers before counting your inventory. Otherwise, a missing inventory item that was used to build another item will be accounted for as an expense, such as loss or shrinkage. For more information, see Building items.
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Count the actual items in your inventory. You can print the Inventory Count Sheet report, which lists all your inventory items, and manually record quantities on it.
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You can print the Inventory Count Sheet either by clicking Print in the Count Inventory window or from the Index to Reports window, where you can also set report filters.
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The Count Inventory window lists all the items and their current on-hand quantities. Quantities are inventory units, not buying units or selling units. For example, if you buy soft drinks by the six-pack and store it by the can, a quantity of 24 in the On Hand column means you have 24 cans in your inventory, rather than 24 six-packs.
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[AccountRight Enterprise only] If you store inventory at multiple locations, select the way you want to group your items. You can group items by item number or by location.
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[AccountRight Enterprise only] If you store inventory at multiple locations and you need to record a quantity for an item that previously had no recorded on-hand quantity, select the Include Zero On-Hand Quantities option.
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In the Counted column, type the actual quantities of the items. Any discrepancy between the counted quantity and the on-hand quantity appears in the Difference column.
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Click Adjust Inventory. If there are differences between on-hand and counted values, the Adjustment Information window appears.
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If you use the same account to track adjustments for all items, you can select a default adjustment account for tracking the adjustments you entered in the Count Inventory window. This saves you having to enter an account on every line of the inventory adjustment. This account should be an expense account such as Shrinkage/Spoilage. It should not be your inventory asset account.
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If you didn’t enter a default adjustment account in step 6, enter the accounts you want to use to track the change in each item’s quantity in the Account column for each line item.
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If you entered a default adjustment account, that account appears in the Account column for each line item.
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[Optional] Add a reason for the adjustment in the Memo field (for example, Annual stocktake 2008).
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Click Record.
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