Performing a Stock Count of Standard Products
Introduction
Stock Counting Plugin is a software module that seamlessly integrates with Tagrain POS and allows you to keep a track of your inventory. It helps you reconcile the actual physical stock in hand at the store with the stock recorded in the system. During an inventory count, some or all item(s) in your store are counted manually and recorded in the system. When the inventory count is submitted, the application compares the actual physical stocks with the stocks recorded in the system and generates a report for any unexpected variances in your inventory levels. The Stock Counting feature ensures that your store's inventory records are updated and you do not end up spending on inventory holding costs.
Prerequisites
The only prerequisite to use the Stock Counting feature in Tagrain is to ensure that you are subscribed to the Stock Counting Plugin.
The Stock Counting feature is unclocked when you subscribe to and activate the Stock Counting Plugin.
Steps to perform Stock Counting
The steps to perform Stock Counting are explained below:
To keep things simple and easy to understand, we are going to perform stock Counting for some Standard Products.
Step 1. Navigate to Home > Inventory > Stock Count to open the Stock Count List View Screen. All the Stock Counts - In Progress and Completed are listed on this screen.
Step 2. Click the Create Stock Count button to open the Create Stock Count Screen. This screen will let you input the values required to perform stock counting.
Step 3. Click on the [...] against the Store field to select a Store from the list of available stores. This will be the store for which you want to count the inventory. This field is mandatory.
Step 4. Specify the Stock Count Number. This number appears on the Stock Count Document. This number can be used as a reference and helps in reporting. This field is mandatory.
Step 5. Click on the calendar icon to open the calendar and select a Count On date. This date signifies the day when the stock was counted.This field is mandatory.
Step 6. Flip the Is Partial switch ON to display the Products accordion. Flipping the Is Partial switch ON will display an additional accordion called Products. This accordion allows you to perform stock counting for a specific product, product group, or product tag.
You must flip the switch Is Partial ON, if you don’t intend to perform stock counting for all the products in your Store. In this article, as stated earlier, we are going to perform Stock Counting for some Standard Products as under:
WB-1001 - Brooke Large Zip Hobo
WB-1002 - Blue Lola Tote
WB-1003 - Block Signature Tote
Step 7. Add the Standard Products that you intend to count the inventory for. You can perform a product search using the product lookup field.
Search the Standard Products you intend to count the inventory for, using the Product Code, or the Product Description, or the Product Barcode, or the Product Group Description, or Product Tag Description.
Step 8. Once you have added the Standard Product(s), click the Save & Back button to return to the Stock Count List View Screen.
The Stock Count Screen is split into 2 tabs - Not Started / In Progress, and Completed.
Not Started / In Progress
The counting has either Not Started or is in Progress. This stage is reached when you have identified the inventory that is to be counted.
Completed
The counting has completed. This stage is reached when you have verified the physically counted inventory, verified the quantity entered in the Counted Quantity, and have clicked the Save (Save & Post) button.
Step 9. Click on the Count symbol (resembles a Calculator) under the Actions column to open the Count screen.
Count the products and enter the Counted Quantity in the column specified.
There are multiple ways you can count the inventory. You can perform a product search using the product lookup and specify the counted quantity in the count text box and click the Add Count button. Alternatively, you can scroll down the product list to locate the desired product and enter the counted quantity in the Counted Quantity column. You can make use of the import template to import the inventory count. |
You can count all the 3 Standard Women Bag Products in one go or you can count 1 Standard Women Bag Product at a time.
We had 3 Standard Women Bag Products to count for - WB-1001, WB-1002, and WB-1003. For illustration, we have counted one product at a time.
Every time you perform a stock count, a stock count document would be created. Since we counted the products - WB-1001, WB-1002, and WB-1003 one at a time, 3 records (Stock Count Number) are generated - ST001-CNT-2_1, ST001-CNT-2_2, and ST001-CNT-2_3
You can click on the Eye symbol to view the stock count document and the Edit symbol to make corrections if any.
The System Quantity column displays the product quantity as recorded in the system. The Counted Quantity column displays the product quantity as counted manually.
Step 9. Click on the Post symbol (resembles a Page Refresh) under the Actions column to post the Count. The Adjustment Quantity column will automatically populate with the quantity adjusted and the status will change to either Matched or Unmatched.
If the counted quantity is the same as system quantity, the status will change to Matched and in case the counted quantity is different from the system quantity, the status will change to Unmatched.
Step 10. Click on the Post button. You will see a notification pop up asking you to confirm if you would like to update the current inventory. (As shown in the Screenshot below)
Step 11. Click Yes on the notification to reconcile and update your inventory. The Stock Count status that was earlier displayed as In Progress is now displayed as Completed. (As shown in the Screenshot below)
You can click on the Camera symbol to view the consolidated Stock Posting Document.
You can click the Print button to print the Stock Posting Document. A sample screenshot is pasted below.
Suggested Readings
Stock Counting in case of Products with Multiple UoM
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