Last updated 09/09/2020
The final stage of setting up Cin7 is the stocktake. After completing a stocktake we will consider your Cin7 account to be 'live'.
After completing your stocktake, all stock movements - so all purchases, sales and transfers - must be put through Cin7 in order to maintain the accuracy of your stock levels.
Before completing your first stocktake, ask yourself a few important questions:
Testing the stocktake process is really easy to do - and if you are familiar with how to process a stocktake, it will make life a lot easier when it comes to the big day.
The end result of a stocktake is to create an adjustment that increases your inventory and therefore your inventory value.
In order to create an adjustment for all your stock, you will use a tool called Stocktake Master. The Stocktake Master compiles the stock for one particular branch and creates an adjustment for the required stock.
There are three steps to using the stocktake master:
Once you have the data, you can go about your stocktake, filling in the Count column. Remember that you are only filling in information for the selected branch; you can only stocktake one branch at a time.
Once you have your counts in your spreadsheet, import the counts into the system.
These adjustments will increase the Stock on Hand in the system.
When you have completed your first stocktake, you must make sure the new stock on hand value balances with the stock on hand value in your accounts software like Xero or QuickBooks Online.
It is crucial that for your first stocktake you do not import the adjustments that are created into your accounting software.
Your accountant can best advise you how to balance your stock on hand value in your accounting software. Exactly how you do this will depend on a number of different factors.
It is also important that this step takes place as soon as possible after processing your stocktake.
To make sure the adjustments will not be imported, you will need to change the accounting status of each adjustment:
Yes - the Pick 'n' Pack app allows you to do a stocktake whilst on the move. For your first stocktake, it may be easier to use a spreadsheet but there is no reason you shouldn't use Pick 'n' Pack instead since much of the process is the same. See Stocktaking using Pick 'n' Pack for additional details.