The annual stock take in retail businesses has been a thing of the past for years. While plenty of shops run stock take sales, there is no need for the annual count that the sale is supposed to make easier.
The ATO agrees that a business does not have to do a stock take as long as it consistently follows structured business processes that track all incoming and outgoing stock and that there are scheduled checks to ensure the accuracy of stock on hand data.
There was a time when small business retailers would have to bring in external stock takes and pay hefty fees for counting, sometimes needing to be closed while this was done.
Today, however, with good POS software and good business practices the business can provide a stock listing that meets ATO reporting requirements and saves the business that end of financial year time soak.
Tower Systems can help small business retailers with the software and the business processes that support the software in its accurate and timely use.
Following the businesses processes we train small business retailers on also helps reduce dead stock and cut other costs businesses find when stock is not managed professionally.
Tracking goods as they come in and are returned or sold is an effective part of a stock take. As is an ad-hoc stock take of part of the business. These and other tools in ur software make it easy for a retail business to be able to produce an accurate stock on hand list in a format required by the ATO.
For our customers who li certainty of a stock take we have excellent facilities in the core of the software for achieving this. We make it easy and certain. We do it in a way that any retail employee can participate in undertaking a stock take. Plus we do it so that the business can trade while the stock take is under way.
No matter how you approach ensuring stock on hand data is accurate, Tower Systems is able to help any small business retailer … save time, save money and feed better business decisions.