Stock Audit
Planning
# Plan your audit based on the available time within your business operations,
# Arrange the essential hardware for audit,
# Organize your items in a logical order to initiate,
# Finalize any pending transactions prior to the audit,
# Decide whether you are going to start Full Audit or a Partial Audit (Item Wise),
# Start Audit Engine to start the Audit Process.
Process
# Start New document and Scan each and every item,
# Monitor each item to determine whether it is included in the Audit,
# Limit the items per document to 100 (Recommended),
# Count the items before finalizing the document,
# Kindly provide the rack name or the salesperson's name in the remarks section for future reference,
# Save the Audit document and note down the transaction number,
# Start new document again.
Easy Scan App
# Scan your items in easy Scan App,
# Save the Audit Document from App itself,
# No need to take the stock near to computer,
# Wireless communication to server, Wifi is needed to connect,
# Mobile technology will help us to improve reachability,
# Barcode Status Notifications like Software. i.e. (Item Sold Out, Item Returned),
# App is totally controlled by Software.
Reconciliation
# Stock Audit Reconciliation,
# Identify the products that are not matched with the audit report and take appropriate action.,
# Check Barcode history to find the life cycle of the product,
# Please verify whether any items were overlooked during the audit,
# Calculate the difference percentage in Audit Report,
# If it is fine then go for approval.
Audit Approve/Reject
# Final Process in Stock Audit,
# Calculate the difference percentage in Audit,
# If it aligns closely with your approval, proceed to commit the Audit,
# Otherwise, Reject the Audit,
# Upon Commit, your inventory will be updated in accordance with the Stock Audit,
# Upon Reject, your inventory will not be changed in any manner.
Support
Frequently Asked Questions
A stock audit is a physical verification of the inventory in a company's stock, comparing actual inventory with recorded figures. It ensures that the stock records are accurate and helps identify discrepancies due to theft, damage, or errors.
Stock audits ensure accurate inventory management, helping businesses:
* Prevent stock losses from theft or mismanagement.
* Identify discrepancies in records.
* Ensure accurate financial reporting.
* Improve stock control systems.
Stock audits can be done:
* Periodically (e.g., annually, quarterly, or monthly).
* At the end of the financial year for accurate financial reporting.
* During the handover of inventory control responsibilities.
* On a surprise basis to deter internal fraud.
Full Audit: Conducted for entire inventory at once.
Item Level Audit: Conducted for individual item or selected group of items.
Any Android device is suitable for conducting a stock audit, provided it is connected to the server via Wi-Fi. Please reach out to the Venx support team for assistance in setting up the necessary configurations.
Thank You!
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