Process stock records - procedure

This procedure describes the processing of inventories in RetailVista, when you have finished your stocktake, whether that be manually or via RetailVista Mobile.

As described in the procedure about stocktaking, all inventories are kept in an intermediate file. They don't have any impact for your inventory data. When you have finished your stocktaking, you want to update your stock with the inventorised data.

Go to the module “Stock”.

In this module you will find two kinds of reports. There are reports on stock and reports on inventory.

Stock reports: These reports give the condition of your current stock
Inventory reports: These reports provide information about the counted items in the intermediate file

First of all, it is very important that you are sure that all the items are counted before you process these results as actual stock.

Please remember this every time, whether you counted all locations where an item may be.

An aid can be report 82 – No processed inventory articles in period.

In this report you see which items have no inventory result yet, in the specified period. Please make this period not too tight. 

Important: “Date to” is date up to the entered date, not up to and including the entered date.

So when you counted on 28th January the “Date to” field should be filled with 1/29/2019.

In a future release this will be corrected to “the date up to and including”.

Set additional filters:

Items stated on this report have reported stock but haven’t been counted yet.

When ready with stocktaking you can print this report 82 for all products, just to be sure. If all is well, then there are no more surprises in this report.

Important: If an item is no longer on this report, it is counted. You must verify yourself whether you counted on all locations in your store where this item may be found. In this procedure all products /  items of where counted. In reality it is more logical to count, for instance, per cash register group.

The counted items are now in the intermediate file in RetailVista.

First we print report 64 – Detailed stockvalue. It displays the current stock in RetailVista.

We advise to save this report on paper, so that you always have an overview of the inventory positions before you processed the results of the stocktaking.

Processing your inventories begins with printing report 74 – Inventory difference list.

This is an important report. It displays the differences between the inventory of a product in RetailVista (so what the system says is in store) and the counted stock of that product.

When printing this report you can make a number of selections (filters), such as when you carry out partial stocktaking. You can think of partial stocktaking for Christmas items or garden furniture.

After making the selections, you will get to see all the inventory results for this selection. You will see the counted stock, the current stock according to RetailVista and the corrections which will be made to the stock when you process the stocktaking results in RetailVista.

It is important to save this report in your records so that you can later see what the differences were at the time of processing. After processing this difference can’t be requested again.

When there are big differences, it is important to determine if this is actually correct. If necessary, make adjustments in your inventory data.

Processing inventory data

When the stocktaking is agreed by it can be processed in RetailVista.

This means that the stock position is adjusted to the value you counted. To do this, choose

“Process inventory records”.

Before processing your stock take, you can make some selections, if necessary. You can do this when you work with partial stocktaking.

Moreover, NedFox advises to process all stocktaking records at once. You then don’t run the risk when updating the stock to zero after the stocktaking.

After pressing the “OK” button you see that your inventory data is processed.

When you go back to the inventory overview (Module “Stock”, menu option “Inventory maintenance”) you will see that there is no more data.

When you have processed a partial stock-take then you can still determine via "Apply filters" whether there are indeed no inventory rows for your partial stocktaking.

For all counted products the stock is now adjusted to the quantity counted by you.

But, you also may have items in your system with a stock, which are no longer in stock in your store. Examples of this are products that are thrown away, waste or stolen. The stock of these products we will update to zero.

Update stock to zero

NedFox recommends to always update stock to zero after you processed the stocktaking. So, you'll start with stock-taking, verifying and processing first and then update to zero.

When updating to zero, it is important that you are aware of the following: There is a difference between stock modifications and stock adjustments.

An adjustment will usually occur as a result of a stock-taking but also as a result of a manual stock correction. Only products whose stock is not adjusted is to be updated to zero. Sales and registered received products are not seen as stock adjustments. These are stock modifications. In the module “Stock” is also an option for updating your stock to zero.

Before updating to zero you have to fill in some data. You specify the date by when the stock should be set to zero. If you check the field "Do not reset if stockadjustment found", then you can specify a date range. With this date range you specify within which period a stock adjustment should have taken place. As soon as RetailVista comes across a stock adjustment for a product in that period then the item is skipped and not set to zero. When you are not certain about the time period in which you did the stocktaking, you can put this date range for a longer period of time to be sure.

Optionally, you can also make selections in case you performed a partial stocktake

As soon as the zeroing is performed you can request a report. In the main screen of the stock module we look now at the stock reports and print report 67 - Stockvalue per article category (In case of stocktaking per cash register group the report would be report 65 – Stock value per cash register group) Based on your current stock positions you know exactly what your inventory value is. Now we print report 64 – Detailed stockvalue

You now see that for more products in this group there is stock. The other products are set to zero. NedFox recommends to print report 64 on paper and keep it in your accounts, along with the earlier printed inventory difference list. Then you will always have the status per processing date of your stock-takes.