How to Stocktake in Cin7, DEAR Inventory & Unleashed

How to Stocktake in Cin7, DEAR Inventory & Unleashed When you are about to embark on a stocktake, it is important to ensure that you prepare your team and your system to ensure that you get the best stocktake result. This book outlines the best practices for preparing for a stocktake.

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Contents 03 Before the Stocktake Purchase Orders Branch Transfers Finalising Sale Orders Maintain an Organized Work Area Organise the Necessary Tools for a Stocktake During the Stocktake After the Stocktake

06 Stocktake in DEAR 12 Stocktake in Cin7 24 Stocktake in Unleashed

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_HOW TO STOCKTAKE IN CIN7, DEAR INVENTORY & UNLEASHED_

Before the Stocktake Purchase Orders Ensure Purchase Orders are received in your system are actually received in the warehouse/store.

When doing a stock count it is important to make sure you know what you are counting. In order to ensure this, inbound shipments must be closed off. This means that there is a clear distinction between what is physically inside of the warehouse and what is outside of the warehouse.

You must: Review all open Purchase Orders and make sure that only stock that hasn't been received yet is showing in this list.

Branch Transfers Ensure all branch transfers that have been received into or sent out of the warehouse are up to date in your system.

Just like with purchase orders, if the stock has been received into the warehouse or sent out - the system must know this.

You must: Review all open Branch Transfers and make sure that all transfers that have been sent/received are completed.

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Finalizing Sale Orders Finalizing sales orders should be completed prior to a stocktake. If you have made a sale to a customer, it needs to be properly invoiced and the stock should be removed from the area that is being counted for the stocktake. This outbound stock should be placed elsewhere, otherwise, it could cause discrepancies in your final numbers.

You must: Review all open Sales Orders and make sure all sales orders that have been dispatched - or even partially dispatched - have been correctly dispatched in the system.

Maintain an Organized Work Area A tidy work area and warehouse will make the process run smoothly. If items can be properly identified and accessed, the count will be efficient.

You must: Ensure all stock that has been received into the warehouse/store recently has been opened and put on the shelf or is clearly marked to be included in the stock count Ensure that the storeroom or any areas where stock is found, that it is either marked clearly for counting or put back where it lives ready for stocktake.

Organise the Necessary Tools for a Stocktake Although it may seem simple, tools like calculators, pens, hand-held scanners, clipboards, and stock sheets need to be readily available during the stocktake.

These tools will help decrease errors. It will make it easy for those participating in the stocktake to get accurate numbers the first time.

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_HOW TO STOCKTAKE IN CIN7, DEAR INVENTORY & UNLEASHED_

As a result, this will make the reconciliation at the end much easier. Decrease distractions in the warehouse.

By minimizing staff distractions, a stocktake can run well. Whether it be the radio, mobile phones, side conversations, or talking to an employee about something off topic, these distractions should be minimized to maintain staff focus. Distractions cause errors and reduce the effectiveness of a stocktake.

During the Stocktake Count all inventory items – do not estimate.

Although a stocktake can be a very laborious task, it is imperative that an exact count is taken of all inventory. It is important to open every box and count the items on the inside, rather than just trusting the count on the outside of the box.

Note: Additional details will be added here in relation to the stocktake by scanner process which has been causing difficulties in the stores.

After the Stocktake Ensure you complete the stocktake.

Every stocktake upload, once in your system, automatically creates the stock adjustment required to update the product quantities in the system to the counted amount. As a final step, review the stock adjustment created in the system.

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How to carry out an inventory stocktake in DEAR We carry out a stocktake when we need to count all stock items on hand at a particular location.

This can be filtered based on certain categories, however, it is best to count all of the stock in one location without using a filter as filters may not work for products which have not been setup properly.

1.

Go to Inventory-New-Stocktake/count

2.

Go to Stocktake screen & fill in information regarding Location - where the stocktake is carried out.

Expense Account - which account you’re going to adjust the stocktake.

Include Quantity on Hand - tick this box, so that you can view the quantity as per the system (if the person doing the stocktake should not known what DEAR believes the stock to be then you can leave this box unchecked - this is called a blind stoctake) Reference - example: monthly stocktake.

3.

The filters available are shown in the screenshot below. For an example, If you want to carry out a stocktake only for products items where the category is mentioned as other then select it from category filter & click on + sign.

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4.

Click on the Start button to commence stock take. This will lock the stock in the

5.

This will show all stock items where you have a quantity on hand.

6.

There are 2 options for inputting the real stock on hand:

system & you’re unable to carry out any transactions.

A Click on each product’s stock on hand quantity & update the stock on hand quantity you gathered during the stocktake & click on save.

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B Rather than adjusting each stock item you can bulk update the stockcount.

Scroll down & click on export all products to export a CSV file. You can either print this & ask your team to update it or to update the csv file itself.

Enter the quantity counted in the Quantity column.

If, according to DEAR, you have no stock on hand of the item then a unit cost will not be populated.

If you do find stock in the count which has a zero unit cost then you will need to add the unit cost to the excel sheet.

If there is no quantity then add zero or delete the line completely.

After completing the sheet click on save.

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7.

Go to Zero Stock on Hand Product at the bottom of the page & click on Import to import the file. This writes off all existing stock & and adds back stock as per the new stock count.

8.

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Once finalised click on Complete to finish the stocktake.

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9.

If you made a mistake then click on Void and start the process over again.

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_HOW TO STOCKTAKE IN CIN7, DEAR INVENTORY & UNLEASHED_

There are a couple of ways of performing a stocktake in Cin7 1. Manual Stocktake a.

In order to carry out the stocktake go to Stock-Stocktake Master.

b.

Once in the stock take screen, hover over branch (in search products section) & select the branch you want to carry out the stocktake from the drop down menu.

Please note that you can carry out Stocktake in one branch at a time.

Ensure Update Mode is selected as Stock Counts & Type as All. Then click on sync Latest Data button.

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c.

Inorder to select the data, go to Export Data section. By default this will select the product code & count in addition to that we can select SOH ( stock count already available in the system) & name of the product then click on Export Data button.

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d.

Once information appears as above click on Select Data & copy all the information & paste it in an excel file. Before pasting ensure the excel cell format is changed to ‘text’.

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e.

Fill in the count column with the data received from the stocktake. Once done copy all information in the excel file & go to Update Counts section.In this section paste all information you copied earlier. Then click on Process Counts.

f.

If you've missed any products, you will be alerted. You can either download those products that are missing and add them to your spreadsheet, or continue without them. After clicking on process counts it will show product items that have variances in the stock count.To adjust the new count click on Continue with Adjusting These Variances button. This will update the new stock count in the system.

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2. Do not Import Initial Adjustments When you Import an adjustment it creates two journals - one will increase or decrease the stock on hand, and the other journal will expense the same amount to a predefined expense account. At an initial stocktake we only want the stock on hand in Cin7 to balance with the stock on hand in the accounting software. This should be done manually.

In order to make sure adjustments will not be imported to change the accounting status of each adjustment: From the left navigation, select Stock - Adjustments.

Hover over the cog icon, and click Admin.

Select Do Not Import from the QBO/Xero Status drop down menu.

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Click Save & Back to List.

Repeat this process for each adjustment that you create.

3. How to Perform Stocktake Using Pick 'n' Pack This stocktake function allows you to count stock 'in the field' using an electronic device, example: smartphone or tablet, then sync your stock counts back to Cin7 system to create the necessary adjustments. This can be used for your initial Stocktake, or any subsequent Stocktake throughout the year. The Stocktake can be found within the Pick 'n' Pack app.

a.

Setting up the Pick 'n' Pack.

On your Pc, tablet or smartphone navigate to http://pnp.cin7.com/Cloud/PicknPack/Client/picknpack.html Log in as an Administrator click on your username, top right, then click Settings.

From the Stock Management menu, click Pick'n'Pack Stock Server Details.

Make note of the Server ID and Password then enter the details.

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Enter username & password for Cin7 Account.

b.

Counting your stock.

First of all reset your stock counts in Stocktake master.

Choose the branch you’re going to have the Stocktake.

Then click on Reset Stock Counts.

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In the Pick 'n' Pack app, ensure you’re at the right branch, example: Sydney/Kellyville warehouse.

Select Stocktake from the drop down menu Then click on the Sync button

You can filter products by category, sub category, zone or by specific product.

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_HOW TO STOCKTAKE IN CIN7, DEAR INVENTORY & UNLEASHED_

You can now begin the stock counting, there should be one tab called ‘Not Counted’.

In order to count your stock you can scan your product & enter the quantity manually once done click on Update Qty.

Consequently scan each inventory item one at a time & the system will count the items for you.

You can also select a product by clicking on it & then entering the counts.

Once you have counted one item a new tab will appear for the ones counted, called Counted.

Continue this process until there are no items in the not counted section.

You can scan the same product twice with a log recording the individual counts.

If you have any remaining inventory items it means that even though you have stock in the system in real life you do not have stock. Therefore add zero as quantity for these.

Once completed counting all inventory items click on the sync button, towards right to the sync button you can see the quantity of inventory items sent back to the backend.

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c.

Adjusting your stock.

Once in the stocktake master, click on Sync Latest Data which will pull the data from the mobile stocktake to the stocktake master.

Then click on Process Stock Counts start the stock adjustment.

If there are any uncounted inventory items there will be a message showing it.

Click on Continue Without Not Counted Products & it will provide you with inventory items that have differences.

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_HOW TO STOCKTAKE IN CIN7, DEAR INVENTORY & UNLEASHED_

Click on continue with adjusting these variances & it will import new adjustments.

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Unleashed Stocktake Before the Stocktake Please note it is possible to do a Stocktake by warehouse, by bin location, by a specific supplier products & the product group.

For example, if you need to perform a stock count for products in the head office select head office in the warehouse drop down menu.

If you need to further extend the stock count for a particular product group then select the relevant group from the drop down menu.

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Conducting Stocktake IMPORTANT: Before starting your stocktake, make sure you have completed the steps outlined in the “Before the Stocktake� instructions.

You can count the items you have and record the stock numbers in various ways.

The options are: Print a paper sheet called the Create Count.

Enter the stock count numbers into Unleashed directly in the Create Count screen.

Export the stock count to Excel as a CSV file, add the count numbers and import back into Unleashed.

After the Stocktake Make sure your Stocktake has been saved and adjustments made and do a spot check of ten products to make sure they match your Stocktake results

How to Carry out an Inventory Stocktake in Unleashed This section will explain how to perform a stocktake in Unleashed.

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1.

In order to perform a stock count go to Inventory - Transactions - Stock Counts.

2.

This will take you to the screen where you can view all stock counts that happened previously.

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3.

To create a new stock count click on Add Count.

4.

To create a new stock count click on Add Count.

Stock count name - the stock count needs to have a name.

You can filter the stock count through warehouse, bin location, supplier & product group.

Once the product item list appears that you need to perform the stock count click on Create Count. The system will remind you that any open transactions relating to products are completed / accounted for.

Please note only the products that have stock on hand will appear in the list. If you need you can add products manually.

If you need to remove any products click on the delete button.

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5.

Once done, this will freeze the product items & you cannot perform any transactions relating to these items. Meaning while you are able to add products to Purchase Orders and Sales Orders, you will not be able to complete any of those transactions.

Take for instance in the case of a Sales Order - this will allow you to create a sales order with that product and a shipment but while the count is active, you can only save those transactions. The system will allow you to create an invoice and complete it but that is because the invoice will not affect the stock on hand for the product unlike a completed shipment or sales order.

a. Print a hard copy on paper of the Create Count.

You can print this sheet & ask your team to update it.

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b. Enter the stock count numbers into Unleashed directly in the Create Count screen.

If you’re not paper-based then you can update the stock item count in the system itself by, clicking on count quantity. This is suitable if you have a small number of stock items.

c. Export the stock count to Excel as a CSV file, add the count numbers and import back into Unleashed

If you have a large number of stock items to count then click on export & select one of the options. We recommend exporting to CSV.

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The csv file will show all the products that are available & the quantities that need to be updated. Once completed save the file. A CSV file can be opened with Microsoft Excel.

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7.

Click on Import to import the updated file. The updated counts will show in the

8.

You can make adjustments to count if needed.

9.

If you’re not happy with the stock count you can delete it by clicking on the Delete

product list.

button at the bottom.

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10.If you’re happy with the stock count click on Complete to complete the process. It is recommended to cross check 10 or so items with your stock count numbers to confirm the stocktake has been completed successfully.

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How to perform a stock count that has no value currently in Unleashed

Create a stock count as normal for the warehouse that you wish to adjust the 0 stock in.

This is required to initiate stock count in this warehouse.

Delete any product from this stock count screen that you do not want to include in the stock count.

"Save" (do not complete) the stock count and export the CSV file of this stock count from the top right corner of this window.

Populate this .csv file by adding the product codes and count quantities of the products that have 0 stock in this "particular warehouse" to include them in the stock count process.

You can run the stock on hand enquiry report for the products of the chosen warehouse and product group to fetch their current SOH quantity.

Keep the stock number same that in this file i.e your "IN-PROGRESS" stock count (as shown in the screen-shot below).

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Save and Import this CSV file to the "in-progress" stock count. You should now be able to see all the 0 SOH quantity products in this warehouse.

- Once uploaded, you can adjust the count quantity in the stock count screen as well.

- Please note, if you keep the stock count quantity to be empty in the CSV file, it will import as 0 quantity in the system.

Once the stock count is done and you have stock on hand quantity for the 0 stock products, you can choose to perform Stock Revaluation Import to amend / add the average landed cost of these items: - Follow Inventory > Transactions > Import Stock Revaluation.

- Download Stock Valuation template. Your product code, description and old average landed cost is pre-populated within this template.

- Fill in the new average landed cost as required.

- Save this file in CSV format and import it back on this page.

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12. If you click on Print Variances at the bottom, it will show the variance between how much stock is on hand & how much you have counted, its variance,etc.

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