I’m going to explain what stocktaking is and why you need to have stocktakes regularly.

Stocktaking is all about the numbers in your business, if you’re used to having your accounts done once a year by your accountant, you probably get your results back for the accountant maybe six months after you year-end.

That means if you’ve had a problem at day one, you’re nearly 18 months into your business life before that’s discovered.

If you have a regular stock taking done you get a snapshot of your business as it happens.

We’re not saying don’t have your accountant, they’re very important, but the numbers that we provide on an ongoing basis will give you the snapshot so you can control your business, see what’s going on and make it more profitable.

People think that stock taking is just about counting bottles or maybe doing stock take on a Monday morning when you’re doing your beer order.

What we do is much more…

We take the stock movements, compare that with your income, compare that with your wastage, and produce your gross profit figure.

We can tell you whether the cash you’ve taken equals the stock you’ve used, if it hasn’t we can, depending on your till system, compare those numbers on our stock system with the till system and identify where the shortages might be.

The other thing we can do is because we’re putting in your deliveries from your invoices, we can also spot when your prices have increased. You might not have noticed, you might have done a deal with your rep, to take new products on board, you’ve done a deal with him but he has failed or that the message hasn’t got through to the accounts team or the sales team to apply that discount to your goods.

We’ve had that recently with a client where we discovered he’d taken a new product on, done the deal, I looked at the invoice and said to him you’re only making 40% GP. He said well what do you mean, and we looked at it and he was getting charged the wholesale price, rather than the heavily discounted price he should have been.

It’s things like that, that would make a big difference to your bottom line by having regular stocktakes done.

What do you think is the most important reason to have stocktakes? How often are you have stocktakes done? Do you have any questions?
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