A stock period must be closed in order to access the closing stock reports. It is always possible to re-open a closed period and make any changes as required. However, once a stock period is approved, it cannot be re-opened. This article will show how to close a stock period, and what should be checked beforehand.
Checking Pending Transactions
Before a stock period can be closed, all relevant transactions must have been entered onto the system.
- To begin, select Stock Management from the tabs at the top of the screen
- Check the Pending tab
Fig.1 - Stock Management > Pending tab
This lists all transactions that have been logged on the system, but not yet approved. It will list all pending transactions, regardless of date.
- Any pending transactions that are relevant to the current stock period need to be dealt with before the stock period can be closed
- This means they either need to be checked and Approved, their Delivery Date moved forward, or Deleted (depending on access levels)
- To carry out any of the options above, select a transaction from the Pending tab
- Anything with a future date can be left in the pending tab, and will be taken into the next stock period
Fig.2 - Approve, Delete, and Delivery Date options within a transaction
- Additionally, the Approved tab needs to be sense checked to make sure the stock is up to date. For example, if there is a 7 day stock period, there should be 7 wastage files, etc
Once the transactions in and out of the system have been checked, it is important to check that the stock count has been fully inputted.
- Go to Stock Management > Stock Count and select Input full stock count
- Ensure that the figures in the Close fields are correct
- Save once complete
Fig.3 - Checking/inputting stock count figures
Next, sales files need to be checked to make sure they have come in from the EPoS provider.
- Go to Stock Management > All Options > Import POS figures
Fig.4 - Stock Management > All Options > Import POS figures
The sales files should be visible for every trading day of the stock period. If there are any files missing, please contact the system administrator.
- Next, select Verify and Process PLU Data
Fig.5 - List of uploaded sales files, and Verify and Process PLU Data button
This will check for and list any missing PLUs, which are sales that have not been correctly lined to the system. If there are any missing PLUs, report this to the system administrator.
This report will also flag up any sales price discrepancies which highlights if an item was sold for a different selling price to that of the system.
- Once all the information has been checked, on the bottom of the Stock Management tab, select Close
Fig.6 - The Close button on the Stock Management tab
If any key information has been missed, then warnings will be displayed. It is important these are investigated and rectified prior to proceeding to close the period.
After any warnings have been corrected, it is possible to close the stock period. Once the screen has refreshed, the stock period will be listed as closed, which will be visible on the top of the Stock Management tab.
There will now be access to the Closing Stock reports, such as the Stock Reconciliation Report and the Management Figures, which can be accessed via the buttons at the top of the Stock Management tab.