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Stock Control System - What is it?

Stock taking is used to make an inventory of stock. In some cases it involves the recording of stock location and value. It can be done monthly, quarterly or annually - depending on the business.

In any way stock control is a part of the accounting process. It enables you to keep a log of stock received and stock issued.

Before the age of computers stock control was done manually system by keeping the stock book. You will be surprised how many small businesses with few stock items still use it!

Such a simple stock control system keeps a log of stock received and stock issued.

Stock Control System - How to Select One?

Search on stock control system on the Internet returns over 10 Million pages. There are over 10000 different software available. One of the examples is StockMaster by GoalMaker (Melbourne). We do not believe in one size fits all solution. We went through the process of selecting the stock control system ourselves and would lie to share our experience.

Tips on Selecting the Stock Control System for Your Business

• make a checklist of your requirements to stock control system
• ask others businesses about the stock control software they use
• ask your trade association for practical recommendation
• find 3 suppliers of stock control software available near you
• contact them and ask for presentation and free trial

My Checklist of Stock Control System Features

Below are the items on my checklist, compiled by my team.
The stock control system must have or be able to handle:

• multiple users at the same time
• multiple prices for items (RRP, sale, etc)
• automatic updating of groups of items and single-item updating
• ability to customise the software (reports, data entry etc)
• quality control and batch tracking
• integration with other packages (MYOB, QuickBooks)

Last Note on Selecting your Stock Control System

Do not go with the software that's too complicated. Your staff will hate it - and soon you will.

My choice was Stock Master by GoalMaker - a custom software development company Melbourne-based.