Complete a stocktake

Complete a stocktake


Stocktakes count the amount of stock for each product in a branch.  You can then update your Cin7 Omni stock amount to match the physical stock count. Stocktake Master creates an adjustment that increases or decreases your inventory in bulk.

Complete a stocktake in five steps:

  1. Select the products for your stocktake.

  2. Create the stocktake spreadsheet with Stocktake Master.

  3. Count the physical stock for one branch in the stocktake spreadsheet.

  4. Import the stocktake spreadsheet into the Stocktake Master.

  5. Balance your accounting system.

Before you start your stocktake, make sure you:

Select products

Search for the products you want to export with Stocktake Master. You can only stocktake one branch at a time. There are extra steps to stocktake serial and batch products.

  1. In the navigation, select Stock, then select Stocktake Master.

  2. Under Search Products, select a Branch. You can only stocktake one branch at a time.

  3. Change the Update Mode to Stock Counts.

  4. Change the Type to All.

  5. The stocktake will include all products listed below. You can refine your search with Products, Bin Locations, or categories (Category Search).

  6. Select Sync Latest Data to include the latest products (or results from your search).

    Unfortunately, you can't customize the product list fields in Stocktake Master.

Create the stocktake spreadsheet

Stocktake Master will export the products you selected into a spreadsheet. You can use this spreadsheet to count the stock in a branch.

  1. Under Export Data, select:

    • Counts

    • Batch/Serial (if stocktaking batch or serial products).

    • Any other fields you want in the spreadsheet. Unfortunately, you can't change or add export fields in Stocktake Master.

  2. Select Export Data and then click Select data to highlight the information.

  3. Copy the information with your keyboard (Ctrl+C) or mouse (right-click then Copy).

  4. Paste this information into a new spreadsheet.

  5. If you use leading zeros in your product codes, change your columns to text before you paste.

Count your stock

You can now count your physical inventory in the spreadsheet. Each spreadsheet should only have products from one branch. Create more spreadsheets to stocktake other branches.

For each product, add the amount of stock in the Count column.

There are extra steps to stocktake serial and batch products.

Microsoft Excel may change your product code, but there are steps you can take to avoid this.

Stocktake Master can only import spreadsheets smaller than 1000 rows. If your spreadsheet is too large, split the spreadsheet into smaller spreadsheets. Then, import each spreadsheet into Stocktake Master.

Import into Stocktake Master

When the spreadsheet is ready, import the new counts into Cin7 Omni with Stocktake Master.

  1. Copy your spreadsheet information and paste it into Update Counts.

  2. Select Process Counts.

  3. If you missed products or are doing a partial stocktake, select:

    • Continue without not counted products, these will remain in stock
      Updates only the products you are importing. Missing products will not change their stock quantity. Use with partial stocktakes.

    • This is a full stocktake, ADD 'Not Counted Products' as zero counts
      Products not in your import will have their stock reduced to zero. Use for missing items you want to remove from your inventory.

    • Download lines products not counted
      Exports the missing products and their counts. Use this to update your stocktake spreadsheet and count the missing products.

  4. Review any differences between your Cin7 Omni stock on hand and your stocktake count.

    • If this is the first stocktake into Cin7 Omni, the variances and your spreadsheet counts will be the same.

  5. Click Continue with adjusting these variances.

  6. Cin7 Omni will begin importing your stocktake.

  7. Select Finish, back to adjustments. You can also select and open the adjustments listed.

Balance your accounting integration

You will need to balance the stock values in your accounting integration. We recommend sharing these steps with your accountant or accounting team. The steps are different depending if you use the periodic or perpetual method.

Periodic method

If you use the Periodic method, you need to adjust your stock value manually.

  1. Open the adjustment(s) for that stocktake and view the total stock value.

  2. Create journals to adjust your stock value to that amount in Xero.

Perpetual method

If you use the Perpetual method, you need to sync your accounting integration with Cin7 Omni. You can then reconcile the stock value.

There are different steps if this is your first stocktake in Cin7 Omni.

  1. Sync the stocktake adjustment(s) in the Cin7 Omni dashboard for either:

  2. Review the Stock on hand reconciliation report. This amount should now match the amount in your accounting integration.

First stocktake

You need to set up your default accounts for your first stocktake. This only applies to the perpetual method.

  1. Set up your Xero, QuickBooks Online, or QuickBooks Enterprise default accounts.

  2. Complete your stocktake with Stocktake Master.

  3. Sync the stocktake adjustment(s) in the Cin7 Omni dashboard for either:

  4. Syncing will:

    • Debit the default account for your Stock on hand.

    • Credit the default account for your Adjustments.

  5. Review the Stock on hand reconciliation report. The amount in your inventory account should match this amount.

  6. In your accounting integration, balance the stocktake value with your original inventory value. You will need to create journals that:

    • Credit the original account (that previously had your old stock value).

    • Debit the default account for Adjustments with the new stock value.

  7. This will balance the accounts and the original account will equal zero.

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