Stock Counts

Overview

Stock counts allow users to select one or more inventory items to have a physical count quantity entered for the items. That physical counted quantity is then compared to the system quantity, which, if different, will display a variance and result in either an inventory adjustment in or an inventory adjustment out for the variance. Stock count sheets can be created ahead of time, but they only become active when the count is started.

Note: Stock counts for serial/lot and bin items are not currently supported. We will add support for these in the future.

To get started, click on the Stock Counts icon on the left-hand side of the screen. 

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Create a Stock Count

To create a new stock count, click the New Stock Count dropdown in the upper right-hand corner of the screen and select either Cycle or Physical. Cycle stock counts require you to add line items to the stock count before scanning in inventory, whereas Physical stock counts do not.

Fill out the information fields in the document that is generated. Be sure to select a Location to use during the stock count.

Once you've filled out the information fields, add line items to be counted by clicking the Add Line(s) button in the Items tab, if you are creating a Cycle stock count. To add lines individually, select the New Line option from the dropdown. To add lines for all inventory for this Location, or to add all items from an Item Class or Item Group, select the appropriate option. If you select the Item Class or Item Groups options, a pop-up will appear allowing you to select or type in the Item Class or Item Group.

Note: If the Add Line(s) button is grayed out, it is because you have not yet selected a Location for the stock count.

Once you've added the items you wish to count (for a Cycle stock cout), or you're otherwise ready to begin the stock count, click the Start button in the upper right-hand corner.

To conduct a stock count, either enter quantity information in manually, or scan items in using SalesPad Cloud Barcode.

To manually enter the quantity physically counted by your or your employees, select the Qty Count cells for each line item being counted. If the item is serial or lot tracked, click on the eye icon inside the Qty Counted cell and enter in the serial or lot information in the Serial Lot Counting drawer that appears.

After you've either manually entered the quantity information or finished the child stock counts in SalesPad Cloud Barcode, click the Finish button in the upper right-hand corner to finish the stock counts and/or combine the results of the child stock counts. 

The Items tab will now display the variance in quantities for the items counted. 

To create adjustments in or out in order to fix the variances, click the Create Adjustments to Fix Variances button in the upper right-hand corner.

Open the Linked Adjustments tab, or navigate to the Adjustments module to see the adjustments created. To view child stock counts created in SalesPad Cloud Barcode, open the Child Stock Counts tab and select the appropriate child stock count.

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Create a Stock Count to Run Later

If you want to lay the groundwork for a stock count, but you're not quite ready to conduct the actual count, start creating the stock count and simply click the x at any point during the creation process. 

The stock count document will appear on your Stock Counts grid, it will be marked as Pending in the Status column, and you can reopen it at any time to resume the process.

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QuickBooks Online Integration Notes

For a complete summary of QuickBooks Online integration details, click here.

STOCK COUNTS

Once stock count has been executed and posted in SalesPad Cloud, the result is that one or more journal entries will be created for variances between the physical count and the system count. These journal entries will either debit or credit the inventory asset account and using the inventory variance account to balance the journal entry.

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