Stocktaking

Stocktaking can be one of the most powerful Audit tools available to Businesses which is recognised by Accountants, Banks, Inland Revenue, Customs & Excise and Insurance Companies. Our reports are professionally prepared and accepted by the organisations mentioned above.

By using professional Stocktakers and Valuers operating costs can be reduced, thus removing the need to use staff and the payment of overtime, whilst keeping disruption to trade and customers to a minimum.

Regular Stocktaking can help to identify patterns in stock losses enabling you to plan and take preventative measures in the future, which will help to increase your cash flow and profits.

There are various types of stocktaking methods to meet the client‘s requirements, we will at all times adjust and amend our programs to suit your needs. Your input and suggestions will always be appreciated and where it is practicable and reasonable these will be implemented.

David Baillie Stocktakers & Valuers are experienced in all trades i.e. Newsagents, Forecourts, Supermarkets, Convenience Stores, Hardware, Off Licences, Garden Centres, Warehouses. We also carry out work within Secure establishments, which may require the staff to have security clearance.

Annual Stocktaking

To minimise disruption to your business we will discuss with you the most convenient date or dates for the stock. You can continue trading during a stocktake as adjustments can be made to reflect sales and deliveries received.

Stock will be counted by qualified Stocktakers to the agreed format between the Client and David Baillie Stocktakers & Valuers. Reports and Summaries to be prepared and issued where possible on the day of the stocktake, with the breakdown of VAT and margins used whether they are trade margins or those agreed with the client to determine the cost value.

Retail Stock Audits

These are most common to managed businesses. Commodities are agreed with the client which can be compared to the company’s book figure and discrepancies monitored to determine the course of action required. If necessary our Stocktakers can produce a stock result on the day provided that a format has been agreed, and that the information supplied by the company is up to date. This type of stock can also be used for changeover of managers.

Business Transfer

It is advisable to use Professional Stocktakers and Valuers on transfers of business to assure that you, the client, receive an accurate value of the stock whether you are selling or buying.
We continually review our procedures and systems to give clients the highest professional service available.
We will always work and negotiate with other stock valuers on our client’s behalf to ensure that they receive a true stock value.

Inventories

Inventories can take many formats to suit the client’s needs. The most common is to list the name of the commodity and quantity of goods. This can be expanded to include location, description, price, and condition of stock or any other format that the client wishes whether it be computer lists or a bespoke system.

Stock Frequencies

We would suggest that at the very least that you have a stock valuation once a year to coincide with your year end. We would also recommend a stock valuation every quarter to coincide with your VAT returns.

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