Stocktaking procedures explained clearly
Stocktaking procedures determine how inventories are recorded, evaluated and documented in the company.
They create the basis for transparent stocktaking results, support accounting and ensure audit-proof inventory management - tailored to the asset structure, company size and process requirements.
What are stocktaking procedures?
Stocktaking procedures describe the methods companies use to physically record their inventories and document them properly. They define how goods are counted, recorded and documented to ensure that stock levels are accurate and traceable. Clear stocktaking procedures help ensure that inventory data is collected in a consistent and structured way.
As part of the overall inventory process, stocktaking procedures support compliance with legal requirements and provide a reliable basis for accounting. A systematic approach helps ensure that inventory results are transparent and suitable for audit and financial reporting purposes.
Overview of stocktaking procedures
Stocktaking procedures define how stocks are physically recorded and documented, forming the basis for a reliable and audit-ready inventory. They help companies capture inventory in a structured manner and meet legal requirements in a consistent and transparent way.
With physical stocktaking services from OMS Retail, companies receive reliable inventory data as the basis for an audit-ready inventory without having to allocate their own personnel or internal resources.
Selection of the appropriate stocktaking procedure
The choice of stocktaking method depends on the asset structure, company size and operational requirements. Trading and logistics companies often rely on key date inventories with physical stocktaking. In capital-intensive industries with long-term assets, asset inventories are commonly used, while service companies may rely more on book inventory where values are recorded through accounting.
A clearly defined approach supports planning, reduces organisational effort and ensures consistent results – particularly across multiple locations or recurring inventory cycles. This creates transparent processes and provides a reliable basis for preparing inventories and financial statements.
FAQ on stocktaking procedures
Stocktaking procedures differ depending on the type of inventory and asset structure of a company. The following questions provide an overview of the practical application of the procedures and show how OMS Retail supports companies in carrying them out:
When is a physical stocktaking useful?
The physical stocktaking is used when stocks are physically present and can be recorded directly, for example for warehouse goods, raw materials or operating resources. It is particularly suitable when a direct quantity check is required or audit-proof documentation of inventory values is needed. In retail, logistics and production environments, it is the preferred method for ensuring transparency of current assets.
Which legal principles apply?
Stocktaking procedures determine how inventories are properly recorded and valued in accordance with Section 240 HGB. Incorrect application can lead to inadmissible inventories, incorrect balance sheet values and rejection by tax authorities or auditors. Only procedures that comply with the principles of proper inventory (GoB) guarantee legal certainty and comprehensible documentation.
At the same time, legally recognized stocktaking procedures support compliance with the GoB, reduce liability risks and create a reliable basis for the balance sheet and annual financial statements. They help, avoid stocktaking differences and make decisions on a legally sound basis. A compliant choice of procedure strengthens transparency, reliability and long-term compliance.
What special features apply to the asset stocktaking inventory?
Asset stocktaking focuses on long-term assets such as machinery, vehicles or office equipment. Based on an existing asset register, items are recorded and, where necessary, visually inspected and reconciled with current data records. This ensures an up-to-date and reliable asset inventory that supports accounting requirements as well as investment and depreciation planning.
In which cases is the book stocktaking used?
Book inventory is applied when assets or liabilities cannot be physically recorded, such as receivables, payables or bank balances. It is based on properly maintained accounting records and requires clear and audit-ready documentation. In practice, it often complements physical or asset stocktaking to ensure a complete and consistent inventory.
How does modern software support the stocktaking process?
Digital stocktaking software enables structured data capture, real-time monitoring and automated evaluation of inventory data. At OMS Retail, stocktaking is carried out using specially developed Windows-based software with interfaces to common merchandise management systems. In combination with mobile data capture devices and Wi-Fi technology, it allows real-time data transfer, reduces manual errors and supports an efficient stocktaking process.
What are the advantages of stocktaking with OMS Retail?
Through the experienced stocktaking teams, modern technology and established processes, stocktaking is carried out efficiently, transparently and in an audit-ready manner. Companies reduce internal personnel effort, minimise operational disruption and receive a reliable data basis for accounting and inventory control. OMS Retail provides a structured, turnkey solution – from planning and execution to complete documentation.
A reliable physical stocktaking is not only a statutory element of the annual financial statements, but also an important factor for transparency, cost control and sound decision-making. Careful planning and efficient execution are particularly important when carrying out physical stocktaking.
OMS Retail supports companies with experienced stocktaking teams, technology-based data capture and clearly structured stocktaking procedures. This ensures audit-ready results without placing unnecessary demands on internal resources or disrupting ongoing operations.
Structured stocktaking procedures from a single source
A reliable stocktaking process forms the basis for accurately presenting a company’s asset position and documenting balance sheet–relevant values in a transparent manner. Only clearly defined stocktaking procedures enable a legally compliant valuation of current and fixed assets and create a sound foundation for the annual financial statements.
Experienced stocktaking teams, standardised workflows and digitally supported data capture ensure results that are transparent, verifiable and suitable for audit purposes. At the same time, companies benefit from greater clarity, planning reliability and reduced operational workload.
We would be pleased to discuss in a personal meeting how we can support your stocktaking project in a structured and professional manner.
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Book your full-service stocktaking now and secure a reliable partner who will support you over the long term. Contact us by phone or via our contact form to receive a tailored offer and benefit from a structured and efficient stocktaking process across your store network.
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E-Mail: info@oms-retail.com
Phone: +49 (0)511 / 515 283-0