Reconciling Actual Versus Projected Quantities

 

What is Reconciliation and why is it important?

Every month, after an audit is performed, a reconciliation process should take place. You cannot fill up another audit till the Reconciliation is done. A reconciliation must be done immediately after an Audit process. Only an 'owner' in Zenoti can reconcile. A reconciliation process compares the physical data with the projected inventory in the system. The reconciliation process will be able to report on 2 issues:

  • Inventory levels: A discrepancy of expected vs. actual inventory levels
  • Usage levels: A projection of how much product should have been used for the services administered.

A reconciliation process provides the manager with data to follow up with staff and take actions on discrepancies.

How do I perform a reconciliation?

Only an employee with 'owner' role can perform a reconciliation in Zenoti. To perform a reconciliation, follow these steps:

  • In the Inventory tab, click the Reconcile link under Retail (if you wish to reconcile data for Retail products) OR click the Reconcile link under Consumables (if you wish to reconcile data for Consumable products).

Reconcile_link.png

  • The following fields are shown on this page
    • Code: Product code.
    • Name: Product name. Click the product name to look at the history of all transactions for the product.
    • Unit: Product unit as specified when the product was created in Zenoti.
    • Category: Product category
    • Sub category: Product sub category
    • Opening (Store): The opening quantity since the last audit was submitted.
    • Opening (Floor): The floor quantity since the last audit was submitted.
    • Inflow (Delivered PO): Quantity of product delivered through purchase orders since the last audit was submitted.
    • Inflow (Delivered Transfer): Quantity of product delivered through transfer orders since the last audit was submitted.
    • Inflow (Converted): Quantity of product received in the store through product conversion after the last audit was submitted.
    • Check out quantity: Quantity of the product checked out after the last audit was submitted.
    • Outflow sent (PO): Quantity of product sent from the floor quantity through purchase orders after the last audit was submitted.
    • Outflow sent (Transfer): Quantity of product sent from the floor through transfer orders after the last audit was submitted.
    • Outflow (Sold): Quantity of product sold from the floor quantity after the last audit was submitted.
    • Outflow (Consumed): Quantity of product consumed from the floor quantity after the last audit was submitted.
    • Outflow (Converted): Quantity of product sent from the floor quantity through product conversion after the last audit was submitted.
    • Current (Store): Current projected quantity of this product in the store
    • Current (Floor): Current projected quantity of this product on the floor
    • Audited (Store): Store quantity of the product as per the recent audit submitted
    • Audited (Floor): Floor quantity of the product as per the recent audit submitted
    • Unaccounted (After Audit) Store: Difference between projected store quantity and audit store quantity
    • Unaccounted (After Audit) Floor: Difference between projected floor quantity and audit floor quantity
    • Reconciled (Store):Shows the audited quantities in store
    • Reconciled (Floor):Shows the audited quantities in floor
    • Unaccounted (Reconciliation) Store - RED : Quantities in this column would reflect in red when the stock is less than expected in store
    • Unaccounted (Reconciliation) Floor - RED: Quantities in this column would reflect in red when the stock is less than expected in floor
    • Unaccounted (Reconciliation) Store - GREEN : Quantities in this column would reflect in green when the stock is more than expected in store
    • Unaccounted (Reconciliation) Floor - GREEN: Quantities in this column would reflect in green when the stock is more than expected in floor
    • Notes: Internal notes to track the changes made 
    reconcile_page.png
  • To reconcile products, click the Submit Reconcile link. 
Have more questions? Submit a request

Comments

Powered by Zendesk