How to Conduct a Stocktake Step by Step

Why is a regular stocktake important?

A stocktake helps businesses identify discrepancies between stock recorded in the system and actual stock on hand. It's essential for avoiding stockouts or overstock, spotting theft or errors, and ensuring accurate financial reporting.

Preparation steps before a stocktake

• Choose a suitable time (ideally quiet hours or outside business hours);
• Print or prepare the current stock list from the system;
• Divide responsibilities among staff for different storage areas;
• Prepare counting tools (barcode scanner or count sheets).

Steps for carrying out the stocktake

• Accurate physical count of each item;
• Record the counted quantity in the system or on the sheet;
• Compare the counted quantity with the stock recorded in the system;
• Recheck items with significant discrepancies.

After the stocktake: analysis and correction

Once counting is finished, discrepancies must be recorded in the system and their cause investigated (recording errors, theft, spoilage). This analysis helps improve future processes.

Summary

A regular, accurate stocktake is the foundation for correct stock data and financial reports. Lonio's integrated inventory management within the POS system makes this process easier for Austrian businesses. Get in touch for more information.

How often should a stocktake be conducted?

Depends on the type of business; many retailers do it monthly or seasonally.

Does a stocktake need to cover the whole shop at once?

Not necessarily; some businesses prefer a rolling stocktake by section.

How can you reduce stocktake discrepancies?

By accurately recording transactions throughout the year and reviewing high-risk areas more frequently.

Does a barcode scanner speed up a stocktake?

Yes, it significantly increases counting speed and accuracy.