Audit in the store: re-accounting and revaluation
Audit in the store: re-count and repricing
✅Inventory is a regular count of goods in a store to check their availability, identify shortages or excess goods, and match price tags; it is a comparison of the actual quantity of goods in the warehouse with the data in the accounting program.
Causes of mismatches in the recount:
- Accounting errors: re-sorting, unrecorded batches, unaccounted for defects or write-offs, errors in the sale or return of goods.
- Lack of control over suppliers, for example, when suppliers may deliver the wrong quantity of goods that was ordered or a completely different product.
- Outdated or non-relevant data. If sales information is not updated regularly or not synchronized with the online store or marketplaces, unaccounted for sales can lead to divergences.
- Fraud by customers or employees.
- Independent factors: product damage, shrinkage, and disturbance.
✅The Torgsoft program makes it easier to audit the warehouse and reduce errors by labeling goods with barcodes, as barcodes help to correctly identify each product, which reduces the risk of loss or incorrect accounting.
Inventory is a convenient opportunity to revalue goods.
✅Revaluation of goods is a necessary procedure in a store that should be carried out regularly to avoid operating at a loss.
Revaluation should be carried out in the following cases:
- currency fluctuations if the goods are purchased in foreign currency,
- changes in legislation, in particular in the tax system,
- Changes in demand, when seasonal or non-selling goods should be re-priced to attract customers' attention or maintain market prices,
- selling off collections to ensure a quick sale,
- removing goods from the assortment during reassessment, etc.
Revaluation in Torgsoft will allow you to dynamically adjust sales prices, as well as:
- massively reduce the price of certain types of goods and control the price to be not lower than the cost price,
- change the selling prices of goods in the warehouse and enter them into the program,
- write off or revalue low-quality goods found during inventory,
- work with an equivalent price,
- link the price of goods to the dollar or euro exchange rate and change it in accordance with its fluctuations,
- change prices by price tags, etc.
Watch our video tutorials and instructions to understand how to quickly revalue and carry out a re-account using the Torgsoft accounting program:
Overstocking in the store: how to add goods to the inventory list
Inventory in trade: how to conduct a proper re-account?
Inventory - Re-accounting in the store
Trade automation and goods accounting
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