Step 1

Create a New Stock Take.

Go to: Stock Items > Stock Take > Create New Stock Take  (see image above)

When the stock take is created, Smart-IT records the theoretical quantity on hand for the selected inventory.

This theoretical quantity is the system quantity used for comparison with the physical count.

Step 2

Select Stock Take Filters

Before creating the stock take, select the inventory to be included.

Available filters  are:

Inventory Group - Select an inventory group if you only want to count specific stock groups.

Bin Location - Select a bin location to limit the stock take to a specific storage location.

Supplier - Select a supplier if you only want to include stock supplied by a particular supplier.

Warehouse - Select the warehouse to count.

Other Options

Set Counted To Zero

Set Counted to Zero sets the Counted Quantity to zero for the selected stock items.

This is useful when you want any item that is not physically counted to be treated as having zero stock.

Normally, the Counted Quantity initially reflects the system's On Hand Quantity. If an item is not counted—for example, because it is not found in the store—the Counted Quantity can be set to zero so that the item appears as a stock variance.

Example:

•System On Hand Quantity: 10

•Physical Count: Item not found

•Counted Quantity: 0

•Variance: -10

Use Buying Units:

Select Use Buying Units if stock quantities should be displayed using the item's Buying Unit instead of its selling unit.

Consignment

Select Consignment if the stock take should include only consignment stock.

Has Transaction - Stock Take Filter

Go to: Stock > Stock Take > Regular Stock Take > Create New Stock Take

The Has Transactions checkbox determines which stock items are included in a new stock take.

Enabled (ticked): Includes only stock items that have had transactions.

Disabled (unticked): Includes stock items regardless of whether they have had transactions.

The default setting is enabled (ticked).

When to Enable Has Transactions

Enable this checkbox when you want to include only stock items that have had transactions. This is useful when a company has many active stock items that have never been purchased or sold, as it creates a smaller, more manageable stock take.

When to Disable Has Transactions

When taking on opening inventory balances, disable (untick) Has Transactions.

This ensures that stock items without previous transactions can also be included in the stock take. These items may not have any purchase or sales history because you are entering their opening stock quantities for the first time.

Step 3

Generate Stock Take

After selecting the required filters, click: Create Stock Take

Smart-IT creates the stock take using the selected criteria and records the theoretical stock quantities.

Step 4

Open the Stock Take for Processing

Jump back to the Stock Take Report to Process tab (see image below).

Step 5

Configure Stock Take Display Options

Configure how the Stock Take must be displayed.

Options available are:

Filter Options

Grouping Options

Print Options and

Sorting Options

Recommended Print Options

Show only active items: Excludes inactive stock items from the Stock Count Sheet.

Only Print Where Stock on Hand Is Greater Than 0

Limits the Stock Count Sheet to items that currently have stock on hand.

Important

The physical stock should be counted before stock is moved into or out of the warehouse.

Ideally, do not sell, receive, transfer, or otherwise move stock while the physical count is taking place.

Normal stock operations can resume after the physical count has been completed.

Step 6

Print the Stock Take

If needed to print the Stock Take click Print to generate the Stock Count Sheet that will be used to count the stock.

Step 7

Manually Enter Counted Quantities

Right-click the created stock take in the Stock Take Report and select Open Stock Take.

(You will also see an option for Sectioned Stock Take Count, click here for an explanation.)

Enter the physical quantities counted in the Counted column.

Automatically Import Counted Quantities (Preferred Method)

Right-click the created stock take in the Stock Take Report and select Open Stock Take.

1. Select Import Counted from the menu bar.

2. Select the Excel file to import

3. Match the Excel file columns to the Smart-IT field.

4. Click Import

Step 8

Checks to Perform Before Processing the Stock Take

Before processing a stock take, review the counted quantities, identify stock variances, and confirm that the stock take results are correct.

Set Counted to Zero

The Set Counted to Zero function sets the Counted Quantity to zero for the selected stock items in the stock take.

This function is useful when importing stock counts from an Excel or CSV file. You can use it to ensure that any stock items not included in the import file are treated as having zero counted stock.

To set counted quantities to zero:

1. Before importing your Excel or CSV file, filter the Stock Take Report to display only the stock items you want to update, if required.

2. Click Set Counted to Zero.

3. Import your Excel or CSV file containing the actual counted quantities (see Step 7).

Important:

•If you apply a filter, only the stock items displayed by that filter will have their Counted Quantity set to zero.

•If no filter is applied, the Counted Quantity will be set to zero for all stock items included in the current stock take.

Example:

•System On Hand Quantity: 10

•Physical Count: Item not found

•Counted Quantity: 0

•Variance: -10

In this example, the system shows 10 units in stock, but the item was not found during the physical count. Setting the Counted Quantity to zero records a shortage of 10 units.

Note:

An exception report will be generated for any items in the CSV file that are not found in the current stock take session. This helps you identify any mismatches or missing items.

Show Differences

Use Show Differences on the menu bar to display only stock items where the theoretical stock quantity differs from the physical quantity entered in the Counted column.

These differences are called stock variances or stock take variances.

Review the variances before processing the stock take to identify discrepancies that may require investigation.

Understanding Stock Variances

Amount Column: Displays the variance value in Rand (R).

Variance % Column: Displays the percentage difference between the theoretical stock quantity and the counted quantity.

Variance Value %: Displays the percentage difference between the theoretical stock value and the counted value.

                                   Use the column chooser to add this column to your stock take view.

The variance identifies stock shortages or surpluses that need to be investigated and, when the stock take is processed, adjusted in the system.

Customise the Stock Take View

You can display additional columns in the Stock Take Report to assist with reviewing stock quantities, variances, and values.

To add columns:

1. Right-click any column heading in the stock take grid.

2. Select Column Chooser.

3. Drag the required columns into the grid.

Available Additional Columns

•Counted (each) -  Displays the counted quantity in individual units.

•Has Serial - Indicates whether the stock item has serial number tracking.

•Pr 10 Excl - Displays the Price 10 value, excluding VAT.

•Pr 10 Excl x Counted - Shows the Price 10 excluding VAT multiplied by the counted quantity.

•Pr 10 Excl x Diff - Shows the Price 10 excluding VAT multiplied by the stock quantity difference.

•Variance Value % - Displays the percentage difference between the theoretical stock value and the counted value.

Step 9

Process the Stock Take

After checking the counted quantities and variances, click:

Process

Processing the stock take finalizes the count and updates the inventory records based on the counted quantities.