In accordance with §266 HGB, fixed assets are made up of the following items:

• Intangible assets
• Property, plant and equipment
• Financial assets

Low-value assets with an acquisition value of less than € 150 or € 410 do not have to be included in fixed assets. Only items that are intended to be used permanently for business operations are to be reported as fixed assets (§247 HGB)

In the retail sector, stocktaking is usually carried out on the reporting date. Preparations for the inventory are often made in the days beforehand so that the inventory can be carried out as quickly and easily as possible. Stocktaking in the retail sector involves taking an inventory of physical items and is used, on the one hand, for the necessary closing of the financial year and, on the other, for the reconciliation and correction of stock levels for accounting purposes and the correct preparation of the balance sheet.

Inventory in the course of time through technology

Like many things in retail, stocktaking has changed considerably in recent years. For example, it used to be customary to carry out an inventory of goods on December 31 at the end of the calendar year. The quantities were written down on small cards and then checked by another team. Over the course of time, helpers were added to the stocktaking team who had already pre-counted or evaluated the inventory. As a result, many small items had to be grouped into tens or cables had to be unrolled by the meter and measured. The inventory check often lasted until late on New Year's Eve. Following the introduction of scanner codes, the retail trade has many advantages, both in the recording of sales and the receipt of goods. However, stocktaking is also naturally easier and quicker this way, as employees are provided with readers and go through the shelves one by one. A traditional stocktake, such as in an electronics store, takes place once a year, when all items are counted and checked for completeness. If a product is missing an important component, it must be booked out by the team leader as part of the stocktake - after all, only the actual and saleable stock is important.

How are inventories organized in retail?

In order to be able to work even better with the results of stocktaking, inventories are now also carried out at shorter monthly intervals. To further reduce the workload on retail staff, the counts are carried out during business hours and the data is immediately forwarded to the relevant head office. The new stocks are worked with immediately and the quantities are entered. This means that there are fewer inventory discrepancies and they can be updated and booked out. There are also external service providers such as OMS Inventuren who, in consultation with the store, count everything completely within a few hours and transfer the inventory totals. The specialist differentiates between asset and item inventories.

How do stock shortages actually arise and why do they occur during a stocktake?

On the one hand, this can happen due to accidentally mislabeled goods and cash register problems, but on the other hand it can also be due to theft or breakage. For example, a pack of salmon falls down in a grocery store and is accidentally pushed under the goods carrier with the shopping cart. The item is no longer physically present and can no longer be found. However, the quantity is incorrect in the computer and is corrected during stocktaking. The more precise and reliable the work is, the more accurate the final result will be. It is therefore in the retailer's interest to work with real figures and also to reduce any excess stock.

Stocktaking in retail with OMS

The inventory company OMS is the right partner for carrying out an inventory in the retail sector. Experienced inventory personnel carry out the stocktaking of all physical items using our own inventory technology within a few hours. Depending on the customer's requirements, this includes pre-sorting and pre-counting work as well as recording the stock and subsequent checks. On request, OMS can prepare and carry out the physical inventory in full, so that once the inventory has been successfully completed, you only need to import the list of items prepared according to your requirements into your system.

Experience in retail stocktaking

You can also benefit from OMS's many years of experience in carrying out stocktakes in the retail sector when planning and preparing the stocktake, which by law must be carried out once a year in your company. The stocktake is prepared and managed by an experienced project manager who is on hand to provide you with advice, support and assistance.
Contact OMS for a non-binding quote for your retail stocktake!

Physical inventory is a procedure for determining the inventory of business assets that can be recorded by counting, measuring or weighing. If you are a food retailer, the physical inventory would mean recording all foodstuffs.

Accuracy with physical stocktaking

Physical inventory provides very accurate results of existing stocks. It should therefore be used as comprehensively as possible, even if it involves a great deal of operational effort. In cases where the physical inventory is impossible or unreasonable, operational assets can also be determined by means of an estimate with subsequent valuation.

Physical inventory with OMS

The inventory company OMS is the right partner for carrying out a physical inventory, whether in retail, industry or for mail order companies. Experienced inventory personnel take stock of all physical items within a few hours using our own inventory technology. Depending on the customer's requirements, this includes pre-sorting and pre-counting work as well as recording the stock and subsequent checks. On request, OMS can prepare and carry out the physical inventory in full, so that once the inventory has been successfully completed, you only need to import the list of items prepared according to your requirements into your system.

In the product group inventory, goods are recorded at product group level.

In inventory sampling, the inventory of assets is determined on the basis of samples using mathematical-statistical methods (§241 HGB).

The inventory must be carried out after each annual financial statement of the financial year on the balance sheet date (last day of the financial year) or 10 days before or after. If this is not possible for certain reasons (e.g. very large inventories), the inventory can also be carried out on a day that is scheduled within three months before or two months after the balance sheet date.

Every merchant must carry out a physical inventory of all assets at the beginning of his trading business, at the end of a financial year and when the business is sold or dissolved. This inventory is carried out by measuring, counting and weighing (§240 HGB).

Care must be taken to ensure that the inventory is carried out thoroughly, as only then can the exact determination of profit be guaranteed. The inventory results form the basis for bookkeeping and the annual financial statements.

An MDE scanner (mobile data capture) or a so-called barcode scanner is a mobile electronic device that is used for digital data capture. A barcode can be used to retrieve information about the product or item that was previously stored in the system.

The inventory must be carried out in such a way that the results can be evaluated by an expert third party (e.g. auditor) within a reasonable period of time. For many inventories, the audit department is directly on site to verify the professional and high-quality implementation.

Assets whose stock changes frequently are called current assets. Current assets are not permanently held by the company and serve the purpose of being realized.

According to Section 240 of the German Commercial Code (HGB), every merchant is obliged to take stock of his inventory at the end of his financial year. This must be carried out in accordance with the principles of proper accounting.

An inventory company is a service company that specializes in taking stock of a company's operating resources and/or fixed assets. According to Section 240 of the German Commercial Code (HGB) and Sections 140/141 of the German Tax Code (AO), this activity, known as stocktaking, must be carried out by every businessman as part of proper accounting, usually once a year. The inventory determines and records the assets and liabilities of a company.

The inventory company as a service provider

An experienced inventory company is a guarantee for a professional and audit-proof inventory. An experienced inventory service provider has the necessary know-how to prepare and carry out the inventory. The advantage of an inventory company over the company's own employees is clearly the experience and routine of the service provider.

OMS - experienced inventory company

The inventory company OMS is the right partner for carrying out inventories in retail, industry and for mail order companies. Experienced inventory personnel take stock of all physical items and fixed assets within a few hours using our own inventory technology. Depending on the customer's requirements, this includes pre-sorting and pre-counting work as well as recording the stock and subsequent checks. On request, the inventory can be fully prepared and carried out by the inventory company OMS so that you only need to import the item list prepared according to your requirements into your system once the inventory has been successfully completed.

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Unlisted items are items that were recorded during the inventory but are not stored in the system. They are therefore considered unknown in the system and require reworking.

RFID stands for Radio Frequency Identification. RFID technology enables the contactless identification of objects.

An RFID system consists of a transponder and a mobile reader that records the data sent by the transponder.

The postponed inventory is a procedure for simplifying the inventory. The inventory may be carried out within a period of up to three months before and up to two months after the balance sheet date.

The advantage of this procedure, which is also known as deferred stocktaking, is that the date of the stocktaking can be aligned with the circumstances of operational processes. Different warehouses or goods can even be inventoried on different days. In this way, the stocktaking can be timed so that productive processes are disrupted as little as possible. On the other hand, the additional work that the rescheduled inventory undoubtedly entails is carried out in the company's administration.

In contrast to perpetual inventory, the postponed inventory is also permissible for companies that do not keep a stock book. This is because once the physical quantity of the assets has been recorded by the stocktake, adjustments that are necessary to show the assets on the balance sheet date are only made in terms of value. The necessary figures are provided by the accounting department.

The valuation of disposals between the inventory and the balance sheet date is unproblematic because the average purchase prices are used for this purpose. Inventories are then updated by deducting the disposals during the early stocktake, while these must be added during the subsequent stocktake. The opposite procedure must be followed for additions.

These provisions are based on § 241 of the HGB and the EStR (Income Tax Guideline) 2008 R 5.3, according to which goods that may tend to shrink, become fragile or perishable due to their nature, valuable goods and those for which tax concessions have been claimed are excluded from the postponed inventory. This principle also applies to perpetual inventory.

The value of the inventory assets must be updated or calculated back to the balance sheet date in accordance with the principles of proper accounting. In particular, it must be ensured that the postponed inventory provides a result that corresponds to the inventory on the balance sheet date. The aforementioned income tax guidelines also stipulate that the bookkeeping is deemed not to have been carried out properly if the physical inventory is missing or the inventory list has significant deficiencies. In case of doubt, the procedure should be coordinated with the responsible tax office.