Annual and Mid Year Stock-takes

Our teams are experienced assessors and stock valuer’s with extensive remote community and roadhouse experience, giving you the opportunity to have a comprehensive, thorough and confidential, independent valuation reflected by bound and electronic copies (We also have the capacity to update your POS to reflect the true value).

While third party or independent stocktaking is sometimes viewed as an expense, when off-set against staff fatigue, inaccurate counting and the overtime payments related to in-house stocktaking, our service is professional, accurate and hassle free.

Stocktaking on a regular basis enables you to keep a strict control in the everyday running of the business. Various problems such as overstocking, shrinkage and cash flow can be considerably helped with proper knowledge of your stockholding. By ensuring that the stock that you have purchased has been accounted for through sales, interim stocktaking has been proven to have a positive affect in reducing all aspects of shrinkage.

Why do does your business require an independent stock-take?

• Audit purposes for end of year; It is a common requirement for auditors to request an independent stock-take;

• Profit &loss statement - to ascertain the true financial cash position of your business

• Balance sheet; For ATO reporting and shareholder dividend the inventory of the company or association must have an accurate value;

• For employees of companies and cash flow businesses including Community Stores and Roadhouses, there is a requirement to report your inventory value and demonstrate transparency to the shareholders at the end of financial year.

Stocktaking Tips for Remote Community Stores!

• The Stores inventory (stock) is the most valuable (monetary) asset of the business and is also the most tangible and the hardest to control and account for;

• Stock control is essential in operating a cash flow business that has large inventory items from numerous suppliers.  Stock taking particular end of financial year is essential in order to evaluate the businesses balance sheet and operating profit and loss and overall performance;

• Ongoing and cyclic Stocktaking of high turnover items such as cool drink grocery item’s and cigarettes and fuel will provide you with the benchmarking and milestones that determine your management capacity in regards to shrinkage and spoilage.  Department stock-takes of high value items such as electrical goods require constant vigilance to ensure they are accounted for;

• Management must ensure the security of the stock with transport supplier invoicing theft and shoplifting is effectively minimised and contained;

• Annual end of year stock-takes are the basis for taxation reporting and the most accurate assessment for profit and loss reports;

• True independence requires an external stock-taker to assess the inventory;

• If your Store is managed by employees an independent stock-take is essential;

• On a management change-over, a stock-take is desirable for peace of mind of incoming and outgoing management teams;

• We have experienced examples of inventory being adjusted for hundreds of thousands of dollars that could not be accounted for - act now and ensure you have an independent stock-take.