Backdated Stocktake
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Another method of stocktaking is to capture the physical stock at the actual end of the month. This can be done by:
closing the store long enough to count and enter the data to the computer.
where stock is not taken directly from shelves by customers you may record the count of stock on bin tags (eg. post it notes). If any stock is taken or received this tag is adjusted. At the end of the month all the tags are collected and entered into the computer.
However the actual count figures are obtained the entry of this data to stocktake documents (or at least the updating of them) occurs in the new month, hence the name Backdated. The advantage of this method is that the count figures should directly relate to end of period balances and reports. The disadvantages are that it requires interruption to trading.