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title: "Introduction to the StockTake Process"
canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31099866/Introduction%20to%20the%20StockTake%20Process"
format: markdown
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There are five main steps involved in the stocktake process with ProStix – creating stock cards, freezing the stock quantities, typing the stock count, checking the count and reporting, and updating the count to inventory.  1. CREATE STOCK CARDS Stock Cards  can be created once and maintained so as to be used regularly and permanently, or disposed of after each stocktake and re-created as needed. Stock cards can be typed manually before the stocktake Or mass created and printed for use . To print stock cards (unless you have specific stationary) we suggest printing a pre-count stock card listing.   2. FREEZE STOCK QUANTITIES & COSTS Freezing Stock  makes a copy of the stock levels and cost of the stock at the time of the freeze and stores this in the database for use when you later apply the stock count. It is advised to freeze stock as close as possible to the time that the products will be counted. this minimises the possibility of discrepancies caused by sales between freezing and counting. The way Prostix calculates your stocktake is:  Frozen stock = qty SOH x <std cost> = $ frozen stock value Frozen stock take value compared to stocktake card value. For example: qty on hand = 50, stocktake card value = 47 = -3 variation. Upon applying stocktake, -3 x <frozen cost> = -$15, leaving stock on hand = 47 as at frozen stock take date Less any sales after frozen date/time, and adding receipts. This then equals your current stock on hand value after apply   3. TYPING THE STOCK COUNT Enter / Update Stock Cards  is where the counted stock quantities are keyed once the counting is complete. Also type locations if the  'InvStkBin'  flag is on (to allow entry of locations of stock). If you pre-typed your stock cards, you can use the F9 Qty Entry function to allow speedy entry of the counts. Example of screen below:    4. CHECKING THE COUNT & REPORTING (Before Applying) Stocktake Variation Reports  - Three reports exist here – Standard report, frozen stock report and pack report. Each of these allow the user to report on the counted stock, check variances to the counted quantities, report on products outside a specific variance range, and report on any stocktaking done on timber packs.  Stocktake completion report   - This report is run automatically as a part of the Update inventory , and is provided here to allow a 'trial' stocktake apply to see what variances will be applied as if you were actually applying the stocktake count.   5. UPDATE INVENTORY (Apply counted stock) Running this function will apply the counted stock levels to your G/L and inventory file. At the end of this apply procedure, the Stocktake completion report runs, as well as a G/L posting summary for the stocktake apply. Two functions on the  Update Inventory  option list (First time load and Nil balances) are explained later in this document.  In the apply, the date you enter for the stocktake date is critical to the time the process takes, and the final figures gained in the apply (that is, don't apply the stocktake to a date other than the day you actually did the counting … it leads to incorrect results).  In the apply process the stock counted is compared to your frozen stock quantities, or the stock on hand at the end of the date entered as the stocktake date (11.59pm). From this, a stock variance is calculated. This variance is then applied to the stock quantity frozen/on hand at the stocktake date, and any stock movements subsequent are re-calculated across the product file from then up to the date of the apply.  This gives you a correct SOH from the stock count day on – and therefore a correct SOH for all products for your current situation.