Transferring from Existing Stock Control

You are probably transferring your stock control from either a computer or manual system onto the computer, or you may be formalising your stock control for the first time. The usual steps when transferring from a manual system are:

Put stock items onto computer. Using the stock maintenance features enter details of your stock items. Include details of assemblies as necessary. Do not enter actual stock quantities yet.

Perform a physical stock take. This should normally be at a month or quarter-end

Put actual stock quantities onto computer.Use the "goods received” feature to do this

Enter outstanding orders. All orders outstanding at the time of the physical stock take should be entered, using the "purchase orders placed” transaction

Enter any current sales reservations, if any

Produce a full stock valuation. Compare this to the valuation done with the same stock-take figures using your previous method, and this will highlight any differences.If there are any, make sure that the computer system is brought into line or that you are satisfied that the computer has the more accurate figures. (Differences could be the result of keying mistakes, arithmetic errors in a manual valuation, or differences between the rules used for valuation. Since the computer system has no history of movements yet, it values the whole of each stockholding at the stated cost price.)

Do a period-end procedure. You would normally start to use the stock system from the beginning of a period, and the period-end routine (and year-end routine too, if appropriate), and resets period demand figures.

The transfer from another computer system basically follows the same procedures as above. However, if you have a CSV or TXT output facility from your old system you can output these details and import them into the stock databases – it is still recommended to do an actual stock take though (remember the acronym GIGO – Garbage In Garbage Out!). If in any doubt, consult your dealer.

Once you are satisfied that the computer system is correct, you may discontinue your previous system and rely on the Datafile stock system; alternatively, you may choose to use them both "in parallel” for a month so that you can then check for any discrepancies.Keep the valuation and any other reports so that you can prove to the auditor that the transfer to the computer was achieved correctly.