Stock Takes

In order to carry out a stock take you will need to gather all the relevant and current inventory data from Brightpearl.

You will need a list of all products which provides the following information:

  • Product name
  • Current in stock quantity, including zero quantities (for a single warehouse)
  • Warehouse location (if appropriate)

This information can be exported from Products > List products / services . In order to display and export warehouse locations you must filter the product list to the relevant warehouse.

The product list can be exported to Excel and printed for using during the stock take. Once the stock take is completed the Excel file can be updated with correct inventory levels and imported back into Brightpearl for making the relevant corrections.

Correcting inaccurate inventory levels

Inventory levels can be corrected manually by doing a stock correction to add or remove items, or in bulk using an import.

Do I have to stop work during a stock take?

Once the product list of current in stock inventory has been exported you should aim not do anything which may affect this figure, such as:

  • Receiving items on purchase orders
  • Shipping goods-out notes
  • Anything which does not directly affect the "in stock" figure can still be worked on, such as:
  • Allocating inventory to orders
  • Fulfilling orders to goods-out notes
  • Printing goods-out notes
  • Picking items ready for packing - but remember that picking inventory will remove it from its usual location which may make counting them more difficult.

Moving stock between warehouse locations

If you want to move stock between warehouse locations; then you can use the Internal Stock Movement function or you can use Update Inventory by CSV. If you are using the latter, then you will need to ensure you add the stock to the new location via one import; and remove the stock from the old location in a second import.  Alternatively, you can also add inventory to the new location and remove from the old location manually.

If needed, you can export your Inventory Detail report to show which location products can be found in. ( Note : this report only shows you items that you currently have in stock).

Related how to guides - Inventory

How to add inventory

The following steps can be used to increase inventory. This process should only be used to correct or adjust inventory, for example, after doing a stock take. To add purchased inventory it should always be received against a purchase order.

  1. Search for the product on the product list and click on the inventory level. In the pop-up window click on Add inventory for the relevant warehouse.
    add inventory1
    Alternatively, go to  Products > Add inventory  and search for the product (if multiple warehouses are in use ensure the relevant warehouse is selected also). Click  Add item .
  2. In the pop-up window enter the quantity to be added into stock and the value of a single item. This value will be used to create the accounting required to update the asset value.
    If warehouse locations are activated the location into which the items will be added is also displayed.
    add inventory
  3. Enter a reason for the adjustment. This will be recorded against the accounting journal.
  4. Click the Add items button to finish.

The inventory levels are immediately updated and an accounting journal posted to increase the current asset value using the cost value entered multiplied by the number of items added.

Tip : If you want to show a record of which SKU was updated in your General Ledger, then entering the SKU in the "Enter a reason for this adjustment" box is a good way of tracking this. This will show the SKU in the Details column in Reports > General Ledger .

Add remove stock

 

How to remove items from stock

The following steps can be used to decrease inventory. This process should only be used to correct or adjust inventory, for example, after doing a stock take. To remove sold inventory it should always be shipped against a sales order. If items were received against a purchase order by mistake then they may be unreceived .

  1. Search for the product on the product list and click on the in stock figure. In the pop-up window click on Edit/Remove inventory for the relevant warehouse.
    remove inventory
    Alternatively, go to  Products > Inventory detail  and search for the product (if multiple warehouses are in use ensure the relevant warehouse is selected also).
  2. The inventory detail report is displayed with the item listed once for each different value, purchase order or location it belongs to. Hover over the line that is to be changed to see the edit icon appear next to the in stock figure. Click on the edit icon .
    remove inventory2
  3. Enter the quantity to be removed - this must not be greater than the in quantity on hand for the item on that row of the product detail report.
  4. Enter a reason for the adjustment. This will be recorded against the accounting journal.
    remove inventory3
  5. Click the Remove items button to finish.

The inventory levels are immediately updated and an accounting journal posted to decrease the current asset value using the cost value of those items.

Tip : If you want to show a record of which SKU was updated in your General Ledger, then entering the SKU in the "Enter a reason for this adjustment" box is a good way of tracking this. This will show the SKU in the Details column in  Reports > General Ledger .

Add remove stock

 

How to update inventory levels by CSV (importing)

Inventory levels in Brightpearl can be updating in bulk by importing a CSV file.

Where a product is connected to a sales channel, those inventory levels will be updated on the sales channel where the inventory level has changed.

Follow these steps to update inventory levels by CSV:

  1. Create your file ready for import. This can be done by first exporting a list of your products and removing unwanted columns. Export your products from Products > List products .
    Howto Update inventory by CSV 1
  2. The import file must be a CSV file, and contain only, and all of, the following columns:
    Howto Update inventory by CSV 2
  3. Save the file as a CSV type file.
  4. Now import the file at Products > Update inventory by CSV . Make the following selections:
    Product ID :
    This is the Brightpearl product number assigned by Brightpearl when a product is created. It is displayed in an exported file of products and can be used to match items during an update.
    SKU :
    This is the Brightpearl product SKU. It can be used to match items during an update instead of using the Product ID. If it is blank it cannot be used for updating. SKUs can only be updated using the Product Import, not the inventory level import.
    - Quantity :
    The import can be used to adjust the current inventory level by this quantity (increase or decrease by this quantity) or to set it to the quantity in this field.
    Location :
    If warehouse locations is activated you will need to specify into which location the items are being added or from which to be removed. If it is not activated leave the fields blank.
    Item cost price :
    When increasing or decreasing inventory levels accounting entries are made to adjust inventory asset values. The accounting entries are made using the cost price of the product set here or from the 
    Match product by :
    SKU or Brightpearl ID. Both these columns are included in your file. If you don't have SKUs use the product ID.
    Quantity :
    Specify whether the file contains the actual quantity in stock, or a figure by which the existing inventory level should be changed by (e.g. 1, or -1, to increase or decrease by 1).
    Warehouse :
    Select the warehouse your are adjusting the inventory level in.
    Use cost price from :
    A cost price is required for making the accounting entries for each stock correction. The price can be taken from a price list or from the file.
  5. Browse for and select the CSV file to import.
  6. Click the Update inventory button to update the inventory levels. This cannot be reversed.

FAQs

I keep getting an error message saying, "Stock correction failed. Not enough on hand availability of product at specified location to perform stock correction". What do I need to do?

It is not possible to reduce your on hand stock quantity to below zero. Although your "in stock" quantity may be remain above zero if you were to reduce it, some of the stock may be allocated to sales orders and therefore your on hand level is less and would fall below zero. Take the following example:

In stock = 10

Allocated to sales orders = 9

On hand = 1

Import attempts to reduce by 5 and fails with the error.

You will need to un-allocate your stock before reattempting the import.

 
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2 Comments

  • 0
    Avatar
    Alex Jessey

    Use cost price from :
    A cost price is required for making the accounting entries for each stock correction. The price can be taken from a price list or from the file.

    What about items purchased in foreign currency? What effect does this have on stock take. Is the base currency always used in stock corrections?  

  • 0
    Avatar
    Alex Jessey

    How does archived product affect the stock take? How should they be handled? 

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