Please see below for some top tips from the team at XPOS about how to get the best out of their systems during the month of April.
DO “THE BIG ONE”
At this time of year, your accountant will ask you to do a ‘whole shop’ stocktake to confirm the numbers for your tax return. Just don’t let this be the only stocktake you do!
It’s a fact that good stock control leads to higher margins and more profit, and retailers need to be able to trust the numbers at any time of the year. When you’re rushed off your feet during the height of the season, it’s easy to let ‘admin’ fall by the wayside. One of the worst things you can do is ignore what’s happening on the shelves and a stocktake is the number one ‘must-do’ task. Especially during your busiest times.
MAKE STOCKTAKING FUN
Gone are the days when stocktaking involved a clipboard, reams of paperwork and several BIC biro pens. The most efficient (and fun) way to carry out a stocktake is to use the free Xpos App. What’s more, you can use the app in conjunction with a Bluetooth scanner for lightning fast stocktakes and greater accuracy.
Get into great habits now and aim to carry out a stocktake for at least one product group each week. It doesn’t have to be onerous and regular stocktakes can help to identify shortfalls in stock or discrepancies, including admin errors and theft!
Regular stocktakes ensure that your Xpos reports are up to date and accurate. These are a key indicator of the health of your shop business and there are over 20 reports to choose from.
Once you have completed a stocktake, use the Stock Discrepancy report in Xpos to review your work. This fantastic report highlights any disparities and, if checked regularly, can help you to avoid any nasty surprises in future.
It’s always better if inconsistencies in your shop numbers are picked up sooner rather than later, to enable you to get to the root of the issue. Frequent stocktaking combined with regular reporting will highlight variances before your business really loses out.
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