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Stocktake Procedures
The End of Financial year is coming for businesses in Australia and many of you will be performing the yearly stocktake.

We are expecting the helpdesk at CFL to be very busy in the last week of June so we have prepared the following tips to help you prepare. Also, if your clinic wishes to use the STOCKLINK mobile application during this period and you have not configured Stocklink yet, please call the helpdesk to set this up asap.
Recommended Stocktake Procedures
In order to ensure that your End of Financial year procedure goes smoothly, there are a few things that you need to consider.

Before Generating Stocktake Sheets
  • Make sure all debtor bills for June have been entered and finished (with a payment method applied).
  • Post all outstanding batched invoices for June.
  • Enter all creditor invoices and payments for June.
  • Complete any Stock transfers between stores before any sheets are generated.
Inactive Stock
  • If inactive items have stock on hand they will still appear in the stock value report. ALL inactive stock can be zeroed quickly by doing a stocktake for inactive stock only and NOT populating column 1 with current stock values. As counts are all zero you can post straight away.
Generating Stocktake Sheets
  • Make sure a full stock take sheet is generated (for each store if operating multiple stores) by the end of the last day of the financial year if you are counting stock at that time - ideally this should  be done after you have finished trading on the 30th of June 2018. You cannot back-date a stocktake.
Counting Stock
  • Perform the physical stock take count - ideally outside trading hours on the last day of the financial year (30 June 2018).
  • Check on the stock take printout / stocklink app whether you need to count in Packs or Units.
  • Any bills done during the stocktake are held and stock taken off after the stocktake has finished. Therefore, if an item is sold between generating sheets and physically counting that item you will need to   adjust the counts on your stocktake sheet or do a stock adjustment after the stocktake is posted.
Entering Stock Back into VetlinkSQL
  • Enter the counted stock figures into VETLINKSQL - you may continue to do this over several days, but it must be completed prior to performing the Creditors End of Month.
  • After entering stock make sure the Col_Total in the Enter Stock screen has the correct SOH value that you wish to post.
  • Post the stock sheet (if you are operating more than one store ensure all stock sheets are posted).
End of Period Procedures
  • Perform the Debtors End of Month. (Before completing stocktake Statements can be printed but you will not be able to continue EOM past that point).
  • Perform the Creditors End of Month.
  • Perform the Debtors End of Year.
  • Perform the Creditors End of Year.
Watch the Video or Download the Manual
For a comprehensive guide on how to successfully complete a stocktake, please watch our webinar or download the manuals by clicking on the following links.
Do you want great Inventory Management
Download a Case Study done at a Practice that saved them $50,000 in the first year using the StockLink App and best practice – Download Case Study Here.
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