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Published Blogs : 20

Outlet - Stock Verfication

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It is a must to do periodic stock verification so that stock reconciliation can happen. If you are in the Business of perishable items, you need to do daily stock verification. For example, Fruits & Veg business must do daily stock verification.

We made stock verification very flexible and our customer can use hand-held Android devices for stock verification. At console level, we need to configure and monitor. Actual stock scanning and verification happens at outlet level. You no need to stop billing for stock verification.

To begin with we need to setup Verification Schedule. This can be using Verification master flow. As shown in the Fig, when you click Verification Master under Stock Verification.

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Stock Verification master needs to be configured for each store. The configuration includes, date/time of stock verification, departments wise selection, and category/sub category selection. Once configuration is done to a store, store users can start stock verification on specific dates. You can set up verification plan/master for an outlet by selecting 'New' option.

You may see the below screen. Add the details and Submit making the store ready for stock verification. An outlet may have more than one verification plan. For example, you may plan to verify one category of items at a time.

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  • Location: is the outlet to which you want to plan the stock verification.
  • Department: You may select 'All' or one department. The outlet users can verify the stock data only for that department on a given date and time.
  • Category/Sub Category: Like department, you can select a specific category to do stock verification.
  • Status: If the status is 'In Progress', outlet users can do the stock verification. You can disable the Verification Plan by selecting the 'Disable' option.
  • Start Date: The date from which the Stock Verification plan is effective.
  • End Date: The end date is the last day of the verification plan.
  • Start Time/End Time: The time band during which the stock verification is allowed.
  • Repetitive: In general, stock verification is repetitive. The period can be daily, weekly, monthly, or a specific number of days.

Once the verification plan is configured, the store users can start verification with in the day/time.

After verification plan is done, you can start stock uploading as per the plan. You can scan using Android Phone/Device and keep posting the stocks. As you keep posting the stocks, it shows in the summary page given below. You can filter the stock uploading based on Location and other parameters in mentioned in the Header.

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Stock taking and uploading is not possible if the date/time falls outside the Verification Plan. You can open the individual stock posting by using 'View' option under 'Action'.

You can also save the stock posting as CSV file by selecting the 'Save' option.

Once the stock verification is planned, store staff sill start posting the stocks on a given day/time. Multiple users may start posting the stock data. After stock verification is done, the stock posting get aggregated and show as single verification.

Select the outlet to which you want to aggregate the stock postings. And then select 'Load Verifications'. It aggregates all posting show a stock verification entry row under the data table.

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You may also note the below columns and their importance.

  1. Open Stock: This is the closing stock when the last verification was made.
  2. Stock In: Total stock that is received since the previous verification was done.
  3. Stock Out: Stock that is moved out of the store.
  4. Book Stock: Ideally, the stock must be equal to opening stock + stock in - stock out. But in reality, the stock is bound to be less due to pilferage.
  5. Actual Stock: Physical stock that was counted during stock verification/posting.
  6. Dump Qty: You can enter the dump quantity if any items cannot be sold due to quality issues.
  7. Loss Qty: Any difference between book stock and physical stock is considered as loss quantity.
  8. Status: "Write Off" means that the stock loss and dump quantity are adjusted. Now both physical stock and book stock become the same.

To do Write off, you may select edit option with Stock Verification and select 'Write Off' under the 'Action' and Submit. Once you did 'Write Off', it cannot be rolled back. It is important verify the stocks before doing Write Off.

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