Stock opname is the physical inventory calculation in the warehouse, where the goods to be sold. The purpose of managing stock opname is to find out the bookkeeping accuracy as one of the internal control system functions. The stock opname will monitor the inventory bookkeeping accuracy. Any difference occurred between the stock opname and bookkeeping may be caused by the non-recorded transaction or fraud in stock.
Most of the stock opname is conducted by the end of the year. In well-managed companies, which implement more organized internal control system, the stock opname is conducted every three or four months. This is obviously influenced by the companies interest and capability in managing stock opname. The more of goods available, the stock opname period will be longer. Managing stock opname can be conducted in the working days, but only half of it can be counted. This activity is possibly done when a business has implemented a computerized system, like Zahir Accounting.
The Stock Opname Objectives
The purpose of stock opname is not only to monitor the company’s inventory, but also for cash, assets, account receivable, and payable. In some companies, the stock op name is applied for inventory and cash, while the stock opname for manufacture industries is applied for raw material inventory, supporting material, semi-finished goods, and finished goods. Personnel assigned to conduct stock opname mostly are the external party, not belong to the internal personnel. Thus the stock opname record is conducted independently with accurate results.
The difference found during the stock opname will be treated according to the company policy. The minus difference is subjected to the company to create adjustment journal. Should the company require the person in charge is subjected to change the missing goods, the adjustment journal is not necessary, unless the replacement price differs from the inventory base price.
Should the over difference occurred to the goods inventory or cash, re-check is required to find out the possibilities of any transactions have not been recorded.
