Stocktake Record
A stocktake is the process of working out the value of stock currently on hand. A stocktake is one of the records you need to complete the Term Trading Statement
(see Term Trading Statement Fact Sheet).
Complete this record when you perform a stocktake. The same record can be used for all the stocktakes during the year. This record is used whenever a stocktake is performed.
Do a stocktake at the end of each term, as well as before and after a special event that uses the canteen’s facilities but will not contribute to the canteen’s funds, such as a fete. If at such an event the canteen’s stock is used, bill whoever used it at the correct retail price.
Two people should conduct a stocktake: one counts the stock, and the other checks the count.
How to complete the Stocktake Record
- Make a list of all the trading stock in the canteen. Trading stock is stock you will sell or ingredients you will use to prepare food for sale. It does not include equipment or utensils used to prepare food.
- Use suppliers’ invoices to find the cost price of each item. Multiply the quantity of each item you have by its cost price to calculate the value of the trading stock in the canteen. Note that ‘quantity’ can be a count (eg 16 bottles of drink) or some other measure of quantity (eg 1.5 kg flour).
- Sub-total the Cost Price columns on each page of the Stocktake Record, and enter the grand total on the last page.
- This grand total is entered as the Closing Stock figure (7) on the Term Trading Statement.
Download the Stocktake Record template here
Source: Management $ense, Food Sense, 1997.