Retail stocktaking
Retail stocktaking
Why have regular stocktakes?
1) Retailers are advised to undertake regular stocktakes. If their business is managed by staff, we suggest quarterly checks.
It’s common knowledge that the biggest causes of stock losses can be customer pilferage, stock not being checked in properly, shortages not being identified on delivery and internal staff pilferage. So having quarterly stock checks acts as a strong deterrent as well as assessing the areas where stock is going missing.
If the owners run the business, six-monthly or yearly stocktakes are quite adequate.
2) Taking regular stocktakes enables you to monitor your gross profits and will reveal any areas in which these profits are falling short. These can therefore be adjusted very quickly, minimising any losses.
Security in any business is vital to its success, and regular stock checks reduce and in many cases stop internal pilfering. Again, this can save owners a lot of money; if pilferage remains unchecked it will often escalate to levels that can cause the business to fail.
Taking an annual stock check is vital in order to enter a correct closing stock figure in your accounts. Estimation by accountants or guessing the figure yourselves is no longer acceptable to the Inland Revenue and Customs and Excise. They like to see an independent company providing an accurate evaluation of stock presented on a certificate of valuation. Failing to carry this out correctly can lead to investigations from both these departments, which in turn could be extremely costly.
Regular stock checks also identify over-stocking, under-stocking, stock being lost through date expiry and damaged or soiled stock.
3) In addition to the points raise above, the benefit of using a professional stocktaking company such as Countability UK, who is experienced in your trade, is that you can be sure of accurate and reliable results. We have been in business for nearly 30 years, which should assure you that we are competent to perform retail stocktakes correctly, otherwise we would have ceased trading a long time ago.
In addition, we carry out work for government departments, police, fire and NHS services – all of whom require security clearance checks for staff.
Stocktaking for CTN / newsagents and convenience stores
Also, with CTN, newsagents and convenience stores, we will calculate your hugglers/news account books for you, so you can see how much customers owe you. This can an area which is sometimes neglected and has on many occasions shown why a business’s cash flow is tight.
TESTIMONIALS
What our clients say
Lee McCrumlish
LONDIS, BURWASH / TICEHURST
Leigh at Countability came recommended to me from another retailer who has worked with them for a long time. We have always found Leigh and his team friendly and easy to work with. I would have no hesitation in recommending their services.
Tracy Robinson
OFFICE MANAGER, ALBAN LOCKSMITHS
We have been using Countability for several years now to do an annual full stock count, they guys are always so friendly and professional, they are tidy and very efficient at what they do, it helps us to keep control of our stock and allows us to budget for the year ahead. We highly recommend Countability.
Vineet Patel
DIRECTOR, WADY & BRET LONDIS
We first used Leigh from Countability in 2003 when we sold our business in Orpington. We then acquired their service again later that same year when we purchased a new business in Charing, Kent. Since this time we have used Countabilty on a yearly basis to carry out end of year stock takes. Leigh and his colleagues provide a reliable, efficient and professional service which is important to us as a business. Leigh contacts us to book in our end of year stock take so that we don’t have to remember. He works with us to schedule the stock take, understanding the importance of getting the work done without hampering our daily business.