stock taking

Can anyone shed some light on what transactions are involved after stocktake?

Comments

Hi Nantasa,

Some more details would be helpfull....

By this do you mean... you have done the physical stock take now how do you enter the differences into Reckon Accounts?

There should be an icon on your home screen.. 'Adjust Quantity on hand' .. if not look under Suppliers/Inventory Activities/Adjust Quantity value on hand

Enter date that you did the actual stock take..
Choose an expense account appropriate for the differences in stock quantities
Enter new Qty

You may need to do several of these if there are several reasons for the Qty difference eg one for stock that has been broken/out of date/damaged etc and another for stock given as gifts... or something else.

Hope this helps

Cheers
Angie Carlyle

Nantasa

Many thanks for the prompt reply Angie. I note you have highlighted certain areas. Do I tick "Value Adjustment" and for "Quantity Difference" shouldn't that be automatic?

Secondly, the reason I need do this exercise is that we doing a stock take and believe there will be obsolete stock and missing items. So I take it no need to do any General Journal?

Once more many thanks for your help. Most appreciated.

ARC BookKeeping

Your Welcome Nantasa,

As I understand it... if you do the adjustment here you will not need to do a General Journal.

to tick or not to tick,
If it is a Qty that you are Adjusting then leave as is (using either the 'New Qty' column or if you know the 'Qty difference' use that, I mainly used 'New Qty')

There are some instances when the Qty or number of stock stays the same but the $$ value of the stock changes (& other scenarios). In which case you would tick the box.

From what I gather you are doing you would not need to tick the box.

And as always...... remember to write in the memo field the reason for the transaction, for future reference.

Cheers

Angie Carlyle

Nantasa

I have lots of transactions to adjust and the most efficient way would be importing an Excel spreadsheet. I have acquired a CSV to QIF converter but unsure what to do after the conversion. Any ideas/suggestions?

Thanks in advance for your expert opinion.

k.minhas@goliathgames.com

I'd also like to know? thanks

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