It is the term used to describe the process of going round and finding out which goods in a store or a shop are on the shelves. You do it to find out how much value you have on the shelves, what items are missing (and therefore have been stolen) or to find out what items you may need to order more of.

What is stocktaking?

What is stocktaking sheet?

a sheet of stock takings ?

What is annual stock taking?

stocktaking is a exercise carried out to know the value of items and identify excess or short before valuation

What is blind stocktaking?

It's a procedure where employee (stocktaking person) does not know how much goods (or what kind, for that matter) should be on the stock, so he/she goes to check "blind". In "normal" procedure stock is taken with estimated reference values (or exact, if possible, based on documentation) given to the engaged person and the difference is established in the process.

Why is stocktaking essential in any business?

To determine the correct opening and closing stockholding and therefore an accurate G.P. over any given period.

Why do organisations do stock taking?

Stocktaking is done to see if the goods you have sold match up to the takings and also to see what profit or loss and GP% you have made A very simple example, if you sell ten items at £1.00 each your cash takings should be £10.00 the profit and % profit will depend on the (cost price) price you bought the items for .Stocktaking shows what profit or loss is made and can show up theft,wrong pricing what sells well what sells slow ,and also the value of your stock in hand for end of year . Stocktaking play a major part in many sales outlets

What are the objectives of stocktaking?

It is a physical verification of the quantities and condition of items held on the business premises. Can be used as part of a company audit. In some industries the stock take will be used to inform the inventory figures to ensure an accurate measure of stock in hand.

What are the advantages and disadvantages of point of sale system?

Counting is the simplest approach to checking your inventory on the shelves in a small business and this is called stocktaking. For small businesses, like a small toyshop, stocktaking is a thoroughly practical approach. However, most of the time stock management is not that simple, and sometimes the practical option is not the best option. There can be discrepancies between the physical and the stock records, especially when it concerns annual stock management. This is why it is advisable for every business owner to use computerized POS systems in stock management. The best thing about having a computerized POS System in your retail business is: as new stocks arrives and as it is sold, it keeps the stock levels current and updated, hence making it is easier to identify which items are selling and which items are not. A POS System is also good in checking for any obsolete or out of date stock that needs to be disposed. If you are still counting your inventory manually on the shelves or in the warehouse, you should think twice about your method, for there are many advantages in using a POS System. One advantage of a POS System is its ability to help your business achieve detailed real-time stock level information. In addition, a POS System can also give you information such as weather forecasts, public holidays and major sporting events, which can be of great help in determining the stock level of seasonal products. You can now efficiently and effectively handle your stock management accurately.

What are the advantages and disadvantages of annual stocktaking?

Advantage; Will account for all assists for the company and provide part of the companies annual profit and loss report. Gives a single chance to account for all inventory and data can be used to correct shortfall/over inventory of items held. provides Procurement data for the business to buyers to work on. Disadvantages; Very labour intensive, can slow the business deals in down as staff are deployed to take stock costly to the business as often additional expertise is required in the process Gives only a one a year hit to correct inventory levels if section counts are not used and therefore inventory can be considerably out of sync with expected product holding

How does the stock control system work?

Manual tracking is done through stock control systems. Making an inventory, or list, of merchandise and documenting its location and worth is what stocktaking entails. As part of the accounting process, it's common to conduct an annual exercise audit to determine the stock's worth. When a company has complete knowledge of every product type in its warehouse, it is said to be under stock control. Because all of the systems use the same set of data, you only have to enter it once.

What is the full form of EDP Dept?

It is the department that looks after the electronic data processing needs of an organization. Today it would be better known as the IT of Information Technology dept. or Information Systems dept. Hope that is clear.--------------------EDP stands for Electronic Data Processing. There is a department that takes this name with an objective to control the inventory and stock, mainly, the movement of the goods between different locations, warehouse, and suppliers. This department undertakes the responsibility of managing continuous stocktaking and digital data integrity in the information system as well.EDP department is independent from IT department, but uses the information systems and other services managed and supported by this department. Sometimes an IT qualified personnel works under the EDP department to speed up support process and coordinate with IT department.Hope this information answers your question!

6 letter word with a as third letter?

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ritardandos, roquelaures, rotogravure, roundtables, rubricating, rubrication, rubricators, rusticating, rustication, rusticators, sacculation, safecracker, safeguarded, sailboaters, sailboating, sailplaners, sailplaning, salesladies, saltshakers, sanctuaries, sandblasted, sandblaster, sandglasses, sarcomatous, saturnalian, saturnalias, scherzandos, schismatics, schismatize, scholiastic, scopolamine, scoutmaster, scrimmagers, scrimmaging, scrummaging, seasonality, secondaries, secondarily, secretarial, secretariat, secretaries, segregating, segregation, segregative, semiclassic, semidwarves, semiquavers, semitrailer, septenarius, serigrapher, shanghaiers, shanghaiing, shearwaters, shinplaster, shirtmakers, shirtwaists, shorthaired, shorthanded, showboating, sidetracked, sillimanite, simulcasted, singularity, singularize, skyscrapers, sleepwalked, sleepwalker, snapdragons, snowboarder, sociopathic, softhearted, solmization, somersaults, soothsayers, soothsaying, southeaster, spacewalked, spacewalker, speakeasies, specularity, speculating, speculation, speculative, speculators, speedballed, spiculation, sporulating, sporulation, sporulative, squirearchy, stagflation, stalemating, standpatter, starboarded, stavesacres, steadfastly, steelmakers, steelmaking, stegosaurus, stenobathic, stenohaline, stickhandle, stimulating, stimulation, stimulative, stimulators, stimulatory, stipulating, stipulation, stipulators, stipulatory, stocktaking, stomodaeums, stonemasons, stonewalled, stonewaller, stonewashed, straphanger, stylization, subcurative, subjugating, subjugation, subjugators, sublimating, sublimation, subluxation, submanagers, subornation, subparallel, subrogating, subrogation, subtotaling, subtotalled, subtreasury, suburbanise, suburbanite, suburbanize, subvocalize, succedaneum, succotashes, sufferances, suffixation, suffocating, suffocation, suffocative, sulfonamide, sulfonating, sulfonation, supercargos, superfamily, superfatted, superharden, superjacent, superlative, superlawyer, supermachos, supermarket, supernatant, supernation, supernature, supertanker, suppliances, suppliantly, suppurating, suppuration, suppurative, supremacies, supremacist, suprematism, suprematist, surfboarded, surfboarder, surrogacies, surrogating, survivalist, survivances, suspiration, sustenances, susurration, sycophantic, sycophantly, syllabaries, sympetalies, sympetalous, syncopating, syncopation, syncopative, syncopators, syndicalism, syndicalist, syndicating, syndication, syndicators, systematics, systematise, systematism, systematist, systematize, tabernacled, tabernacles, tachycardia, talebearers, talebearing, tarmacadams, tastemakers, tearstained, teetotalers, teetotaling, teetotalism, teetotalist, teetotalled, teetotaller, telegrammed, telegraphed, telegrapher, telegraphic, temperament, temperances, temperately, temperature, temporality, temporalize, temporaries, temporarily, terminating, termination, terminative, terminators, termitaries, termitarium, tetracaines, tetravalent, theocracies, theophanies, thiocyanate, thiouracils, thumbtacked, tiebreakers, timocracies, titillating, titillation, titillative, tittivating, toastmaster, tobogganers, tobogganing, tobogganist, tolbutamide, tomographic, toothpastes, topographer, topographic, toxoplasmas, toxoplasmic, tracklayers, tracklaying, trackwalker, trademarked, tragacanths, translating, translation, translative, translators, translatory, transmarine, transparent, transvalued, transvalues, trenchantly, trepanation, trepidation, triaxiality, tribulating, tribulation, tributaries, triceratops, trinitarian, tristearins, triturating, trituration, triturators, tropicalize, tropopauses, truckmaster, truehearted, typographed, typographer, typographic, ultrabasics, ultracasual, ultramarine, ultravacuum, unappealing, unballasted, unbandaging, uncertainly, uncertainty, uncombative, uncurtained, undereating, underhanded, underlapped, underlaying, undermanned, underpasses, underpaying, underrating, undertakers, undertaking, undertaxing, undervalued, undervalues, undeviating, unearmarked, unenchanted, unendearing, unexplained, ungallantly, unification, unitization, unreclaimed, unrehearsed, unsurpassed, unthreading, unwarranted, unworkables, uppercasing, usquebaughs, utilitarian, utilization, vaccinating, vaccination, vaccinators, vacillating, vacillation, vacillators, vacuolation, variegating, variegation, variegators, vascularity, vasculature, vasospastic, ventilating, ventilation, ventilators, ventilatory, verticality, vesuvianite, vicariances, videotaping, vindicating, vindication, vindicative, vindicators, vindicatory, virginalist, visionaries, voluntaries, voluntarily, voluntarism, voluntarist, vouchsafing, vulneraries, warmhearted, wastebasket, wastepapers, wastewaters, watchmakers, watchmaking, watermarked, weakhearted, weimaraners, wharfmaster, wheelbarrow, whitewashed, whitewasher, whitewashes, wholesalers, wholesaling, whoremaster, wineglasses, wiredrawers, wiredrawing, wisecracked, wisecracker, withdrawals, withdrawing, workstation, xerographic, xylographer, xylographic, xylophagous, zemindaries, zoantharian2089 words found.

What is stocktaking?

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