Preparing for End of Month

Stock Management

All stock functions should be finalised by the end of the month to ensure that the period is closed with the most accurate figures. The following areas should be covered off:

Ensure all stock invoices (Bev and Food) are entered and processed so the stock on hand is up to date
Ensure all stock transfers are processed so each applicable Sysnet location is updated with current stock levels and current costs
Ensure any outstanding wastage is processed to ensure the stock is adjusted accordingly to account for these losses
Completing all of these steps in a timely fashion will ensure the stock levels are as current as possible for more effective stocktaking

Tips

Keep on top of the stock invoices - ensure they are entered daily or at a minimum weekly
Save time by completing the bulk of your stocktakes a few days before the end of month. Then quick recounts can be done on any high volume products or problem stock on the day if need be
Remember that Sysnet runs a perpetual stock system, meaning stocktakes can be conducted at any time during the month. This allows the venue to keep on top of stocktakes and identify mistakes more easily

Note: Any stocktakes left unprocessed will NOT prevent you from running your end of month process and closing the period. It simply means that once they are processed any discrepancies will fall into the next period.

Reporting

The Cost of Goods Report is an excellent tool to review carefully before the End of Month is run. It can assist in identifying problem areas that can be addressed before the period is closed. The Cost of Goods Report provides an overall picture of the total stock movement/activity for the period.

The Cost of Goods Report can be printed from the Stock Menu under Reports > Stock > Cost of Goods

Click here to download details on how to read the Cost of Goods Report

Points to Note

Stock invoices cannot be "back dated" to fall into a closed period, so remember to check all stock invoices are entered on time
Once a period is closed in Sysnet it cannot be re-opened to fix any mistakes, any adjustments made will fall into the "current period"
If you are having difficulty completing stock tasks (stocktakes/invoices) or debtor tasks (printing statements/ageing) before end of month, it is generally more important to roll the month (preferably before 5pm on the first day of the month) than to wait for these tasks to be completed. This will allow for correct reporting of sales, revenue, stock movements and cash balances etc. for the month. This information will be invaluable later for generating stock orders and comparing month on month figures etc.
While not recommended, it is possible to use the Processed Stocktake Report for a final closing figure for accounting if need be
Due to the nature of Debtors being run LIVE in Sysnet, it is recommended that Debtor Statements are printed and debtors are aged before the venue begins trading. Otherwise any current transactions which happen during this procedure will be included in the statement and ageing