Stock Taker

AL ABRAR TECHNOLOGIES

About this app

Stock taker is only for "ALABRAR" business groups.
Businesses use financial information to report forecasts and conduct audits, and hence this information must be current, precise, and complete.

Inventory control plays a critical role in ensuring the correctness of this information.

One of the most crucial elements in an effective inventory system is stock adjustment; if properly executed, it can save you time and free you from tension.
A stock adjustment is the increase or reduction made to the stock so that the actual quantity on hand matches the stock shown in the system – basically, a correction in the records so that they agree with the physical count.

Inventory levels don’t always change because of sales; which is why it becomes necessary to update your records to reflect the difference in the physical inventory count that may not be in your system.
1. Increasing Quantity
The physical count is greater than the recorded quantity, so the quantity will have to be increased in the records using the cost price or average cost as of present.
2. Decreasing Quantity
The physical count is lower than what is in the system, so the total value for that item will need to be adjusted.
3. Revaluating
The physical quantity as such is not different but the management changes the average cost and therefore the total value of a particular item.

Stock adjustment reasons can be positive or negative. Positive Inventory level changes take place due to several reasons – like when there is an excess stock that is as yet unsold but it can be sold, new merchandise comes in either through production or purchase – the company needs to update its records to reflect the increased quantity.