Record Period Opening Stock

 

Back Office > Inventory > Stocktake & Period End

 

Period End

 

 

This screen is accessed from here.

 

  • Record Period Opening Stock - Select to set the opening stock for the next trading period. Selecting this opens the Set Opening Stock confirmation prompt. Used independently of the Stocktake process, this transfers the current stock on hand to the opening stock for the next trading period. Prior to running this process, run the Period Location Summary Report for the previous trading period. For example: If currently in the process of completing the May trading period, then run the Period Location Summary Report for the period 1-May-2014 to 1-Jun-2014 6am to view the completed trade for this period.

 

Takes a snapshot of the current stock and creates a new trading period using this snapshot for use in Period Location Summary report. Note : Exit the Reports menu once after the first time you run the Record Period Opening Stock to refresh it. Also, recording a Period Opening Stock will result in the stock at all Locations to be released.
 

  • All Stocktakes must be committed before you can open a new trading period.
  • It is recommended to post Supplier invoices into the current open period to avoid variances in Multi Period reports.
  • Record Period Opening will default the Closing Date/Time to "now" OR if however, a Stocktake has been previously locked at say 6:00am on the first day of the month then that will be the closing date/time for the trading period.
  • The first time you Record Period Opening, you can also select the opening Date/Time for the first period. This would normally be the date of your "last end of period" which would normally be last week or 6am on the first day of last month.


Set Opening Stock

 

 

Select Record Opening Inventory to close the current trading period and start a new trading period. This will result in the Stock Period Dates entry prompt to be displayed.


 

Release Locations - (Preferred option) If you have completed all your stocktakes then this will release the stocktakes and record the changes to the SoH since the stocktake was locked into the next period. You can choose which locations you do NOT want to close at this point in time.

Record Opening Inventory - If you are part of a large group where stocktakes are still in progress then this records the trading period regardless of stocktakes in progress.

Cancel Recording - Exit this menu if you do not want to do the options above.


Stock Period Dates

 

 

Select the calendar the Closing Date/Time of the trading period to which the Stocktake applies. Note : Do NOT set the Closing Date/Time in the future.

 

 

Examples of how this works

 

This is an example of a Restaurant or Bistro where you need the actual GP% for food costs.

 

  1. Enter all the Supplier Invoices each week for Meat and Vegetables.
  2. Sell all the meals with a zero cost (or a percentage cost if you prefer to get a theoretical cost of sales on a daily report)
  3. Do a stocktake each week for Meat and Vegetables and write off the stock variance. Effectively, this is the stock usage for that period.
  4. Print out the ???Period Location Summary Report??? for the current period and you can see your actual cost of sales and actual GP% for the Restaurant/Bistro.

 

Related Topics

 

  1. Inventory/Stock
  2. Reports - Calculated SOH by Location Report - For sites the do not use Stocktake Trading Periods and want to see a summary of their trade.
  3. Stocktake & Period End

 

Published 28 Mar 2024