Home Management MYOB Stocktakes Contact Us  
 
 
Welcome to the Remote CMS website. Please feel free to contact us should you need additional information on any of our Management Services or MYOB Products.
 

STOCKTAKES

Home
MYOB POS
About Us
Stocktakes
Contact Us
FAQs
Management

UPDATES


SEARCH OUR SITE         
 

Our teams are experienced assessors and stock valuer’s give you the opportunity to have a complete thorough and confidential independent valuation.  We are members of the "Stocktakers Institute of Australia Inc" and reflect the organisation principles.

Why do does your business require an independent stock-take?

  • Audit purposes for end of year; It is a common requirement for auditors to request an independent stock-take;
  • Profit &loss Statement; To ascertain the true financial cash position of your business
  • Balance sheet; For ATO reporting and shareholder dividend the inventory of the company or association must have an accurate value

What we do;

  • A full and comprehensive stock-take using MYOB or RIC Group RM Traveller Stocktake Software.
  • On-the-spot valuations of stock-in-trade for most retail shops including supermarkets, restaurants, takeaways, newsagents, liquor stores, hardware, gift stores etc.
  • Electronic or manual Stock-take and on completion we will hand over a comprehensive report of the stock take.
  • Stock Valuations for the sale of a business. Typically conducted immediately prior to settlement.
  • Stock Valuations for accounting and tax requirements.
  • Develop Asset Registers and associated inventory listings.
  • Develop better warehouse inventory control systems and conduct appropriate stock-counts on warehouse inventory.
  • Experienced Data Processing Operators can be provided to enter stocktaking results into your computer system if required.

What we provide!

  • 2 Bound copies and an electronic copy (PDF) M/S excel or M/S access 
  • Capacity to update your Point of sale system to reflect the true value
  • Independent cash balance (audit) of safe and till floats
  • Independent valuation of assets (chattels and fixtures)
  • For employees of companies and cash flow businesses including Community Stores and Roadhouses, there is a requirement to report your inventory value and demonstrate transparency to the shareholders at the end of financial year;

Stocktaking Tips for Remote Community Stores / Enterprises

  • The Stores inventory (stock) is the most valuable (monetary) asset of the business and is also the most tangible and the hardest to control and account for.
  • Stock control is essential in operating a cash flow business that has large inventory items from numerous suppliers.  Stock taking particular end of financial year is essential in order to evaluate the businesses balance sheet and operating profit and loss and overall performance.
  • Ongoing and cyclic Stocktaking of high turnover items such as cool drink grocery item’s and cigarettes and fuel will provide you with the benchmarking and milestones that determine your management capacity in regards to shrinkage and spoilage.  Department stock-takes of high value items such as electrical goods require constant vigilance to ensure they are accounted for.
  • Management must ensure the security of the stock with transport supplier invoicing theft and shoplifting is effectively minimised and contained
  • Annual end of year stock-takes are the basis for taxation reporting and the most accurate assessment for profit and loss reports.
  • True independence requires an external stock-taker to assess the inventory.
  • If your Store is managed by employees an independent stock-take is essential.
  • On a management change-over, a stock-take is desirable for peace of mind of incoming and outgoing management teams.
  • We have experienced examples of inventory being adjusted for hundreds of thousands of dollars that could not be accounted for - act now and ensure you have an independent stock-take.

Institute Preamble


The Stocktakers' Institute of Australia Inc. is the organisation of and for the stocktaking profession throughout Australia.

Professional Standards


All stocktakers who are members of the Stocktakers' Institute of Australia Inc. must abide by the Institute's Code of Practice.


Members of the Stocktakers' Institute of Australia Inc. can be approached with confidence on any question of business performance related to stock turnover, stock audit and inventory control or stock in trade valuation.


Membership of the Stocktakers' Institute of Australia Inc. indicates a strong commitment to:

  • Proficiency

  • Integrity

  • Confidentiality

Institute Code of Practice

 

1. To impartially act with the highest standards of competence and integrity in all dealings with their clients.

 

2. To only accept and work on those assignments for which the member has the necessary competence.

 

3. To safeguard the confidentiality of their clients, and any information and data imparted by them.

 

4. To establish with the client, or clients, the reason for and the basis of, any valuation.

 

5. For conveyancing and other tasks as might be necessary, to confirm to the client or clients, that the member's independent judgment and expertise shall be accepted in determining any aspect of the valuation, unless otherwise specifically agreed in writing.

 

6. For conveyancing tasks, to enquire from the client, or his solicitor, whether there are any qualifying clauses in the agreement between the parties affecting the valuation, and to follow those terms as necessary. The Certificate of Valuation will be qualified accordingly.

 

7. In the case of stocktaking, to carry out instructions with the maximum accuracy allowed by conditions, with regard to health and safety requirements and continuity of the business, using the best methods of assessment pertinent to the type of goods and their condition.

 

8. To advise, before commencement, an estimate or firm quotation of the cost of completion of the work, together with terms of payment.

 

9. To liaise with the client's auditors where necessary.

 

10. To specify on any statement of valuation, that basis of that valuation and any qualifying statements that the stocktaker may deem necessary.

 

11. In the event of inability to agree valuations with other parties, to follow the guidelines of The Stocktakers' Institute of Australia Inc. and to cooperate with any appointed arbitrator.

 

12. To ensure that, in all business dealings, consultations, advice and conduct, every effort is made to ensure that the client's fair and reasonable requirements are met.

 

13. To undertake to engage staff on not less than the minimum provisions of the appropriate award in pay and conditions.

 

14. To abide by any subsequent guidelines established by the Institute.

 

  Copyright 2007 - Remote CMS           Webmaster - Nara Management.