To get an accurate figure for your inventory, a stocktake must be processed. Please refer to Stocktake section of the RetailManager user guide for detailed information on committing a stocktake. 

For comprehensive information on Stocktaking in RetailManager, see Stocktaking in RetailManager. 

Ensure that you have counted each and every item before committing the stocktake. Uncounted items are set to zero when you commit the stocktake, meaning that every item you did not count will have a zero inventory level in RetailManager. 

During the financial year, your stock values and quantities in RetailManager may have actually changed due to damaged stock, theft or internal use. It is important to take this information into consideration before stocktaking.

If you do not use the 'Accounting Export' feature between RetailManager and MYOB accounting software, or if you are using RetailManager v5 or earlier, you may need to display your stock shortages and adjust your inventory value in your accounting software. To display your stock shortages, follow these steps:

In RetailManager v7 and earlier:

1. Before committing the stocktake, click the Display Shortages button, which can be found in the bottom right hand corner of the Stocktake window. This report may comprise of hundreds of pages depending on how many stock items you have. Rather than printing out every single page, use the arrow button (Figure A) at the top of the screen to skip to the last page. Once there, click the printer icon (Figure B).
   
2. When the following screen appears, select the Pages option and enter the last page number of the report into both the From and To fields.
   
3. Using the total of the Value column in the Display Shortages report, create a General Journal Entry in your accounting program and credit your Inventory (Stock) account and debit your Stock Expense (Spoilage, Shrinkage, etc.) account. If the total Value figure is a negative number, you would then debit the Inventory account and credit the Stock Expense account.

In RetailManager v8 and later:

1. Before committing the stocktake, click the Discrepancy Report button at the bottom of the Stocktake window.
2. Select the option Display only stocktake 'Outages'.
3. Click OK.
4. Select the grouping and sorting order then click OK.
5. Go to the last page in the report.
6. Using the total of the Value column in the report, create a General Journal Entry in your accounting program and credit your Inventory (Stock) account and debit your Stock Expense (Spoilage, Shrinkage, etc.) account. If the total Value figure is a negative number, you would then debit the Inventory account and credit the Stock Expense account.

Print the 'Whats in Stock' report

1. Ensure your stocktake has been committed successfully before continuing.
2. Go to the Tools menu and choose Reporting.
3. Click the Stock heading.
4. Print the Whats in Stock report. For more detailed information, print the Whats in Stock Detailed report.

Print the Aged Debtors, Layby and Sales Order reports

If you have Account customers that you sell items to on credit terms, print the Aged Debtors Detailed report as follows:

1. Go to the Tools menu and choose Reporting.
   
2. Click the Customer heading.
   
3. Print the Aged Debtors Detailed report to determine what money is owed to you by your debtors.

If you process lay-bys or sales orders in your store, print the Layby Detailed and Sales Order Detailed reports (also under the Customer heading as detailed in step 2 above) to determine what items are currently on layby or sales order and what payments have been made on all of your current laybys/sales orders.

It is important to create two backups of your shopfront. One will be made pre-stocktake and one should be made post-stocktake. 

• A backup will be created on your hard drive automatically before you commit the stocktake. RetailManager will not allow you commit the stocktake without backing up first.
• We strongly recommend backing up your database after committing the stocktake. Backing up to an external storage device, for example USB stick or CD, is a good idea as it can be stored away from the computer or sent to your accountant.
• For further information on backing up and restoring your shopfront, please refer to your RetailManager User Guide 

(Skip this step if you do not use the 'Accounting Export' feature in RetailManager)

Your MYOB accounting software should be as up to date as possible. Make sure that all direct debit payments made before the end of the financial year are entered into RetailManager before completing the Accounting Export. Perform your regular Accounting Export from RetailManager and import it into your MYOB accounting software. For more information, see our support notes Accounting export from RetailManager and Importing from RetailManager.