What are inventory counts?
Inventory counts (also known as stock takes in some countries) help you to keep track of your inventory.
During an inventory count, you and your staff count and record each item in your store. When the inventory count is submitted, your store's inventory records are updated, and you get a report of unexpected variances in your inventory levels, including cost figures.
Inventory counts help you to keep on top of your inventory movements and identify any discrepancies faster.
Using an iPad? To conduct an inventory count on an iPad you must login to your Vend store using Safari. Alternatively, you can sign on to Vend using a computer and conduct your inventory count there. To learn more about processing Inventory Counts with an iPad, check out this article.
The following article will give you an overview of the type of inventory counts you can do in Vend, and also additional information relating to inventory counts including; how to abandon, cancel upcoming and review historical inventory counts.
What type of inventory counts can you do in Vend?
There are two types of inventory counts you can do in Vend:
1. Full count: This is (usually) completed at the end of the financial year in order to provide your accountant with an exact value of your inventory. It includes every item in your store, including your storeroom.
During a full count, you should close your store to ensure you get an accurate representation of your inventory levels. This generally means counts are done outside of usual trading hours.
You can also do one at other times, however, full counts are a lot of work.
Important: A full inventory count should always be completed when your store is closed. This ensures that no items are counted twice, or sold after they have been counted.
For information on how to complete a Full Inventory count, click here.
2. Partial counts: These are normally a small section of your inventory, usually a particular brand, type, or supplier's items. Many retailers complete these during regular open hours in order to help keep your store's inventory accurate during the year. You can even run multiple partial counts at the same time (just make sure you don't have the same product in more than one count).
Completing regular partial inventory counts helps you to keep on top of your inventory, and ensures that your end-of-year inventory count runs more smoothly.
For information on how to complete a Partial Inventory count, click here.
Important: It is possible to perform the same inventory count from multiple devices, however, we do not recommend this. If you do choose to perform an inventory count on multiple devices, it is very important that you save the count on each device before completing and that you only complete the count on one device.
How do you complete an inventory count?
Completing an inventory count with your store open
If you were trading while counting, you will need to make any final adjustments based on sales or returns made during your count period.
If you sell or return an item after you've counted it, that item will need to be adjusted. For a sale, you'll need to decrease the count quantity by one in your inventory count. For a return, you'll need to increase the quantity by one.
If you sell or return an item before you've counted it, these items will have the correct inventory value but a discrepency may appear on the review page (as the expected count would not have changed.)
Note: Any sales made when conducting and inventory count will still be correctly recorded in your sales history.
Quick-scan mode enables to you rapidly scan each item's barcode in your store to add it to your inventory count. Your scanned item will automatically be counted as soon as you scan the barcode.
If you'd prefer to use the barcode to look up the item SKU and then enter the final count number before submitting it, un-tick the Quick-scan mode box.
When you are performing a partial count you can sometimes get a red "unexpected" symbol next to your products. When this symbol appears it means that a product has been added to the partial count that doesn't match any of the filters you specified when creating the count.
If you would like this symbol to disappear you may need to create a new partial count and broaden your filters. If you have already started counting or are happy to continue with your current count you can simply ignore the symbol and continue as it will still accept the adjustment for this "unexpected" product regardless. If you are certain that this product should fall under the filters you've applied, head to the product screen and edit the product in question to ensure that it's been setup correctly.
Sometimes, you may need to stop doing an inventory count that you have already started. This may be because, for example, you've run out of time to complete it, as an inventory count should always be completed in a short time period. This is called Abandoning a Count.
To abandon an in-progress count, follow the steps below:
- Open the count on either the Edit count or Review count page.
- Click the Abandon button.
Abandoned counts will appear on the Cancelled tab of the inventory count home page.
To cancel an upcoming count, follow the steps below:
1. Head to the Inventory Counts page: Products -> Stock Control -> Inventory Counts
2. Tick the box next to the count.
3. Open the drop down at the top of the count list and select Delete.
4. You will be notified that the inventory count has been deleted and it will no longer be listed on your Inventory Counts page.
You can view historical inventory counts and export the results at any time.
To view your historical inventory counts, follow the steps below:
- Click the Completed tab on the inventory count home page.
- Click the count you wish to open.
- Select Generate PDF Report or Generate CSV Report if you wish to export your results.