Types of stocktaking

In the following part, You can see what kind of stocktakings and inventory checks You may encounter during business:

• Opening stocktaking: It takes place at the founding of a company, and shows the assets and liabilities.
• Mid-year, year-end stocktaking: It supports the balance sheet of a company. It shows the quantity (value, condition) of the assets that the company has on the balance sheet date, or just a part of it (part stocktaking).
• Full stocktaking: It shows all assets and liabilities of a company on a given date, including the ones not present at an owned site, but at a remote location.
• Part stocktaking: It covers an entire section of a type of an asset or liability. We consider as part stocktaking when a single site, warehouse or zone is taken as well.
• Handover stocktaking: It is done when the person responsible for an area changes. The previous person responsible passes the assets the new one.
• Foreign stocktaking: It counts the items in foreign ownership, but in the possession of the company. Most common examples are semi-finished goods passed over for processing, items given on consignment or guard.
• Statement of storage: Items in the ownership of the company but at an other site, in the possession of another party can be counted by them, and the result of that stocktaking becomes the statement of storage.
• Stocktaking declaring assets: The full extent of the properties of a company is the part of this stocktaking, current and fixed assets (goods, buildings, machines, balance etc.). It is obligatory in each year, as of 31st December.
• Exceptional stocktaking: The date of the stocktaking is not known for the unit to be inspected (warehouse, store). It is recommended in case of suspected abuse, sales of items of great value or without invoice.