Electronic stocktaking is the process of physically counting the stock items and comparing them to the company’s computerized records. It is generally done at end of the year as part of company’s annual audit and may be done in front of external auditors.
Some benefits of electronic stocktaking include regularly monitoring and increasing gross profit, reducing loss, improving control of allowances, and reducing waste. Using barcode scanning technology can improve the accuracy of stocktaking. Stocktaking well can help to ensure accurate orders are made and items do not become unavailable during busy times and customers are not disappointed. It also helps with staff morale as employees feel confident that items that they require will be available to them.
We at stocktake for me provide Professional Stocktakers to electronically capture products and give Client reports for auditors in excel or text format.
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