Stocktakes and Stock Adjustments

Overview

In simPRO, you can update your stock levels in two ways. Stock adjustments allow you to periodically correct stock levels without putting a burden on resources to perform a full stocktake. This is useful for technicians allocating stock in the field using Connect, as well as for improving your stock value reporting. For example, if your stock count accuracy is being negatively impacted by staff not following the correct stock management process, you can perform a stock adjustment on one or several items found to be incorrect, take note of negative or positive variations, and educate the applicable staff members about following the process correctly.

Performing a stocktake at least once a year, or more frequently depending on the size of your inventory, is an important part of maintaining accurate stock reporting. Compared to stock adjustments, which are meant for corrections, a stocktake should be an end-to-end process and a total count of all physical stock in a storage deviceClosedA location / vehicle / building where stock (US: inventory) is stored.. This should be done prior to financial stock value reporting where practical.

When performing stock adjustments or stocktakes, it is important that your catalogueClosedUS: Catalog. A list of items used and / or sold by your business, provided by suppliers. Not to be confused with stock (US: inventory). pricing is up to date in order to accurately cost materials onto jobs.

Learn more in How to Manage Stock.

Until a stocktake or adjustment has been finished and approved, there is no impact on inventory or accounts, so it is recommended to lock down the storage device that is being counted to prevent any transactions of inventory.

US only: If you use simPRO in the United States, the terms 'inventory' and 'inventory count' are used instead of 'stock', 'stock take', and 'in stock'.