What is stocktaking?

Stocktaking is the process of counting and recording the physical quantity of goods in your stock and comparing it with the quantity recorded in your POS system. The purpose is to make sure the physical stock and the system’s data match. Stocktakes can be done regularly, for example weekly or monthly, or as a full count on special occasions – such as at year end.

Correct stocktaking helps you identify any deviations – for example registration errors, a forgotten goods receipt or, at worst, shrinkage. By keeping track of your stock you also get a better overview of purchasing and can avoid both overordering and items selling out. This contributes to more efficient and profitable operations.

An example from a restaurant:

Imagine you have a café, and every Friday after closing you take stock of your drinks. You use your POS system to print a list of how much of each item the system calculates you have left – for example 10 bottles of cola. You then go to the storeroom and count only 8 bottles. There is a difference of 2 bottles. You record the deviation so the system shows the correct number from now on, and you can start looking into whether the error is due to shrinkage, an item rung up incorrectly or something else.

Why does it matter in a POS system?

An effective POS system lets you keep track of both sales and stock – but only if the data is correct. That is why stocktaking matters. It makes sure your product catalogue matches reality and forms the basis for your reordering. With up-to-date stock data you can make the right decisions about when to buy goods again and in what quantities.

How does Flexybox use stocktaking?

In Flexybox’ till system you can easily take stock using count sheets, where you quickly enter the physical quantity per item or barcode. The system automatically compares the entered figures with the system stock and calculates the difference. You get access to a variance report that gives an overview of deviations and lets you adjust quickly directly in the system. This saves time and makes it easy to keep your stock accurate.

Frequently asked questions

It depends on your business. Many choose to do a full stocktake monthly and supplement it with ongoing partial counts of specific product groups weekly.

That is exactly the purpose of stocktaking – to find and record differences. You can then adjust the stock in your POS system and investigate the cause of the deviation.

Yes, automatic stock updates are only correct if all goods are recorded and reconciled correctly. A physical count makes sure the entered data matches reality.

Yes, Flexybox supports fast entry via barcodes, so you can easily scan and count items during stocktaking.