Stock Orders and Stock Takes

Stock Orders

Stock Orders are purchase orders you send to suppliers to request products.

When to Use Stock Orders:

• Ordering new inventory from suppliers

• Planning future inventory needs

• Tracking pending deliveries

• Maintaining records of all orders

Stock Order Statuses:

• Pending: Order created but not yet received

• Received: Order delivered and stock updated

• Canceled: Order was canceled

Benefits:

• Better inventory planning

• Track supplier deliveries

• Maintain accurate records

• Compare ordered vs. received quantities

Stock Takes

Stock Takes (also called stock audits or inventory counts) are when you physically count your products and compare with system records.

When to Do Stock Takes:

• Monthly or quarterly audits

• After suspected theft or loss

• Before financial reporting

• When switching inventory systems

• Regular reconciliation

Stock Take Statuses:

• Draft: Stock take created but not started

• In Progress: Currently counting products

• Completed: Finished and finalized

• Canceled: Aborted before completion

What Stock Takes Show:

• Matched: Count matches system (no discrepancy)

• Unmatched: Count differs from system

• Overstock: More than system shows

• Understock: Less than system shows

• Value Impact: Financial difference

Benefits:

• Identify theft or loss

• Correct system errors

• Verify stock accuracy

• Meet financial reporting requirements