STORE AUDIT & ACCOUNTING
MYSTERY AUDIT
Customised solutions (Barcode/ RFID) can be designed for inventory tracking of Raw material/ Finished goods/ Fixed assets
Automatic alert for low inventory or over stocking Realtime access to current inventory levels and movements Automates tracking & Reconciliation process for stock and fixed assets
Physical Verification using Barcode Reader
In presence of store staff, Audit team starts scanning of stock rack-wise/box-wise. Further, following points are considered to ensure accuracy of data captured
- No barcode is scanned twice at the time of scanning.
- All defective/used items are scanned.
- Manual barcode data is captured in stock count.
- Single barcode for multi pieces (Set) is checked (basis quantity mentioned on label).
Data Extraction From System
Before initiating physical verification, audit team extracts/ validate following data at store:
- Confirmation/acknowledgement of latest three transfers from respective store.
- Bills held in system.
- Package made at stores but delivery/ transfer out is pending in system.
- Returned pieces approval and confirmation.
- Stock /Inventory report as on date
Preparation of Gap Report
Audit team prepares the gap report by analyzing scanned stock with as on date system inventory report . Further, following points are considered:
- Stock adjustment for pieces sold during audit
- Verification of manual bills
- Set off in case of size mismatch by checking all pieces of respective design/product.
- Audit observation is discussed and sign off /remarks at warehouse level.
Consolidation & SubmissionCHEDULE
Stock audit teams share signed off report with HO consolidation team for data compilation.
Observation are reconfirmedfrom department head.
Team reviews warehouse wise shrinkage, excess, set off cases, loan out, wrong billing, wrong barcode affixed, manual billing, alterations, transferred out, exchanges cases, etc,
Consolidated report is shared with finance and IT team for review/adjustment.
AUDIT SCHEDULE
Monthly store wise audit scheduleis prepared basis sales preiod and availability of RM, IT and ground staff.
Audit schedule is shared with RM for signoff. Incase any changes are required, schedule is amended. Audit schedule for the month is tracked internally and basis that stores are informed accordingly.
