These procedures should be run prior to the end of year stock take:
Run Department/Overall Stock Differences - if you are using departments.
Update the date for calculating average stock cost to Year Begins date.
Run Calculate Average Cost Routine.
Stock Control Check.
Run Department/Overall Stock Differences
If you are using departments, run the Department/Overall Stock Differences report.
This will display a list of any stock items where the on-hand quantity does not equal the total of the on hand quantities of all the departments .
Go to: Main menu > Maintenance module > Maintenance menu > Database Maintenance > Stock Maintenance > Dept /Overall Stock Differences.
Print this report if there are any differences.
To rectify the differences, for each stock item on the list, go to Main menu > Stock Module > Stock menu > Stock Details > select stock item > More Commands > Dept Overall Differences.
Update the date for calculating average stock cost
In some cases the date from which the average cost is calculated is quite old. When the cost date is more current, the average cost will be more current. As most stock will have been purchased during the financial year, changing the date to match the beginning of the financial year may be advisable.
Before you change the date for calculating average cost, we advise asking your accountant for their recommendation.
If, in consultation with your accountant, you decide to change the date, you can do this by going to:Main menu > Maintenance module > Maintenance menu > System Defaults > Stock tab.
Calculate Average Cost
To ensure the average cost displayed on the Stock Details window is correct you should run the Calculate Average Cost function in Maintenance.
Go to: Main menu > Stock module > Stock menu > Stock Details > select stock item > Commands > Calculate Average Stock Purchase.
Run Stock Control Check
This procedure will find transactions that may adversely affect the Stock Adjustment journal. It should be completed prior to running the Create COS Journals.
Go to: Main menu > Maintenance module > Maintenance menu > Database Maintenance > Stock Maintenance > Stock Control Check.
Check any entries that are displayed and rectify.
If you need assistance with correcting the entries, please contact the Provet IT Service Desk.
