Subtitles of the Movie

In this lesson we're going to cover Stock Takes and we've already done a very similar thing earlier on when we covered Inventory Opening Balances, so much of this should seem familiar. We'll get started by going to the Inventory Command Centre and clicking on Count Inventory. The first thing we should do is click the Print button to print an Inventory Count Sheet and then go count our physical inventory. When we return we take our counted numbers and type them into the Counted column. Any discrepancies will then show up in the Difference column here. I'll drop in a discrepancy now. Let's say someone helped themselves to a couple of Hard Disk Drives, so the amount that we have on hand is only 9. We see the negative 2 show up in the Difference column. When we're done, click the Adjust Inventory button. If we have any discrepancies, as we do now, MYOB will now ask for a default Adjustment Account. This is optional but it can make things easier if most of the discrepancies are for the same or similar reasons, such as theft, or spoilage. If we have a lot of items with discrepancies it saves us having to enter an account for every item. We are able to change the account for individual lines in the next Window, though. OK, this is usually an Expense Account because we've lost stock and it's an expense to us. I'll choose Shrinkage/Spoilage. Now we hit Continue and the Adjust Inventory Window opens, already filled out for us, and this is basically a garden variety inventory adjustment, just like we did earlier. We can change the account for a particular line here. Also note that the value in the Unit Cost Field is, again, the Average Cost of the Item by default. We can change it if we know that we spent a different amount of money on this item. And that's pretty much it. Hit the Record button to finish and let's move on to the next lesson.