1. Delivery Notes - these are proof of all goods entering the premises, and should be signed only when the goods have been checked. Many stock shortages can be attributed to a simple check not having taken place. Any petty cash purchases for goods which are to be re-sold should be included.
2. Invoices - these will need to be checked against the delivery notes to ensure that you are only being charged for goods you have received and that the correct prices are being used.
3. Goods Inwards Book / System – this allows the stocktaker to ensure that all goods inwards have been recorded. This can then be cross referenced with invoices and statements.
4. Income Records and Till Readings – the stocktaker will reconcile the till or EPOS system readings with the record of business attained and will advise on any discrepancies.
5. Wastage Records - used in the correct way these can be analysed and controlled.
• In most cases our stocktaking fees are more than covered by ensuring the correct cost prices are being used by your suppliers and that the best possible deals for your business are being achieved.
• A 2% change in your gross profit percentage following advice can often relate to thousands of pounds in your net profit (bottom line). This article has been written for the BICM by Barry Walker of D. B. Walker & Sons. D. B. Walker & Sons have been established over 80 years and have three generations of the Walker family working in the business.
For further information or advice, please contact:-
The Route Organisation
2 Winmarleigh Street
Warrington
Cheshire
WA1 1NB
Tel: 0870 112 6623
Fax: 0870 112 6624
E-Mail info@routeorg.co.uk
6. Promotions - it is extremely important that accurate records are maintained of any promotions, happy hours or discounting your business carries out.
Our stocktakers will give you advice and guidance on setting up any systems your business requires.
We always encourage our existing and potential clients to participate in the stocktake, that way they can be sure that all stock is accounted for, all relevant paperwork is made available and that the stock is prepared and easy to count.
The cost of a stocktake seems to deter some businesses but we urge clients to consider the following:-
Can your business afford to lose money?
• A member of your staff helps themselves to a pint of Cola and a packet of crisps every day at a cost of £2.50. This amounts to £912.50 per annum. In many cases this amount exceeds the costs of a regular stocktake over a year. If not, it certainly would be a major part of the costs.
