Stock taking should adhere to the rules set by legislation, which mandates that the Stock be physically counted at year's end in front of external auditors. By conducting a stocktake, it is simple to identify discrepancies between the physical count and the financial records, i.e., whether there is a deficit of stock that may be caused by.. Doing a stock take can be painful without an electronic stock take system, but even with one, there a few traps that can catch you out. Watch this to learn t.

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To get started, you'll need to create a template that includes all of your items and their corresponding prices. This is where the stocktake formula comes in handy. The stocktake formula is used to calculate the total value of your inventory at any given time. The formula looks like this: "=SUM (Stock Price*Quantity)".. 2. Print your stock take sheets. Your stock sheets form the basis of your stock take. You use them to record your new count, against what should be there. The stock sheets should use the most up to date records you have. These should be embedded in your existing stock control system. Many software packages let you print stock sheets in a couple.