Stocktaking denotes the physical counting of stock items on store shelves in order to compare actual and theoretical stock levels. Stocktaking is a major component of the system used for monitoring inventories and staff activities.

A stocktake can be full or partial. A full stocktake compares theoretical and actual levels of all stock items in a store. A partial stocktake only compares the levels of stock items that have been included in a collation report.

Stocktaking results are registered in stocktaking records.

The stocktaking record includes the actual (physical) count of the stock items, which is entered into the collation report. This physical account is compared with theoretical stock levels calculated according to documents. It allows shortages and excesses to be identified in order to adjust stock on hand.

The actual (physical) count is entered into the collation report on the date that the stocktake was actually carried out. Then, after processing in the storekeeping system, the specification panel of the stocktaking record is automatically populated.

When carrying out a full stocktake, the following stock items will be entered into the specification: first, items from the collation report whose actual levels deviate from their theoretical ones and second, items which have been registered but not included into the collation report.

In the case of a partial stocktake, the specification will contain only those stock items from collation reports in which actual levels deviate from theoretical ones.

The stock-out operations in stocktaking records can be taken into account when average standard daily consumption rates for stock items are calculated in the store. In order that stocktaking records be taken into account during calculation, they must be added to the stock-out document types specification in the Document types for calculating standard daily consumption rates panel.

The status of a stocktaking record reflects its current state. Unlike other documents, stocktaking records can have one of four statuses:

The stocktaking record is processed in two stages: during the first stage, the specification is generated, while during the second stage stock on hand is adjusted according to the specification.

When created, the stocktaking record is assigned the status Not ready. When this status is active, the user is allowed to alter the attributes of the stocktaking record and make changes to the collation report: add new stock items, change attributes of existing stock items, and delete items.

Assigning the Ready status makes the stocktaking record read-only. This stocktaking record cannot be run on the store, and no changes can be made to it. The status "freezes" the document as it is until the user wants to change it.

After filling in the collation report, the user assigns the status Processed to the stocktaking record. The document can then be processed by the storekeeping system. After processing, the specification is generated. The panel will contain only those stock items for which theoretical levels differ from the actual levels specified in the collation report.

While the stocktaking record has the status Processed, the specification containing the physical count data can be edited. The collation report, however, remains read-only.

Stock items with shortages will be deducted according to their cost price. If any stock items are to be added, their prices must be specified. Once these prices are specified, the record can be registered.

After the status Registered has been assigned to the stocktaking record, the user can implement the second stage of processing. During this stage the stock supplies are reconciled with the data specified in the specification. Theoretical levels of stock items for deduction will be lowered by the quantity specified in the Specification panel. Theoretical levels of items to be registered will be increased.

If the status Registered is assigned to the stocktaking record, only the status itself can be changed, not its attributes. As for the collation report and specification, they are read-only.

The Registered status can also be assigned to a document with the Not ready status. This will automatically create the Specification panel, data from which are used to adjust theoretical levels of stock items.

To make the collation report editable again, the Not ready status must be applied to the record. This will delete the contents of the Specification panel. After changes have been made, the Processed status can be applied again, and the Specification panel contents will be repopulated.

Deleted records are given the Deleted status during processing by the storekeeping system.

Stocktaking records can also be created at the POS terminal in Tillypad XL POS). Only partial stocktakes can be carried out at POS terminals. The list of stores for which a stocktake can be carried out depends on the access settings of the POS terminal user.

Stock items in the specification of the stocktaking record also have statuses. These statuses are assigned automatically when the records are processed by the storekeeping system.

A document specification item can have one of the following statuses:

Stocktaking records for all stores are stored in the Stocktaking records list.