thread Re: Year End Inventory Reconciliation in Archived Discussions (Read Only)

END OF YEAR INVENTORY

theshopcommerce — Wed, 27 Feb 2019 21:10:57 GMT

Is there a way to get my end of year inventory- ending 12-31-18? I have Square for Retail.

Thanks.

Re: END OF YEAR INVENTORY

ccvapesfreedom — Wed, 27 Feb 2019 23:03:25 GMT

From your dashboard, go to Items> Inventory> Reports and go to Dec. 31.

If you haven't been entering Cost of Goods your report will need some work with entering cost of projected sales.

Year End Inventory and retiring products you no longer carry

Jaddy — Tue, 17 Dec 2019 17:25:01 GMT

Hi all,

I am a small Fair Trade gift shop using Square for Retail. I want to prep for year-end inventory and I have some questions that I'm looking for your input on.

1) I have 1000s of skus in my inventory, some that are out of stock and I will not be selling in the future. How do you deal with skus that you no longer carry? If I delete them, will it affect my reporting?

2) What are your best practices for doing end of year inventory with Square for Retail? Any time-saving tips?

TIA Jill

Re: Year End Inventory and retiring products you no longer carry

nika — Fri, 20 Dec 2019 14:35:30 GMT

Hi @Jaddy!

In regards to your first question... Deleting items won't impact your item sales reports. If you delete items but needs the SKUs for those items later on, you can find them via the Cost of Goods Sold report when filtered for "sales".

To your second question, I moved you over to this board so you can see how to get your end of year inventory. Feel free to tag the sellers above if you'd like to get some additional insight from them!

YTD report showing # sold and # left in inventory square for retail

wpete — Thu, 15 Jul 2021 22:01:05 GMT

I have square for retail and have been trying to find a report that will show me the number of individual items sold YTD and the number left in inventory currently as well. Does anyone know if this type of report exists and if so, where to find/create it? thx

Re: YTD report showing # sold and # left in inventory square for retail

AshleyK — Sat, 17 Jul 2021 18:41:10 GMT

Hi @wpete I've merged your post to an existing thread where @ccvapesfreedom offered a solution to your question. Thanks!!

Year End Inventory Reconciliation

mix2021 — Tue, 11 Jan 2022 17:54:22 GMT

Hello,

We are using Square for Retail... Just used Square to do a year end physical inventory and have some questions and|or issues and would greatly appreciate any feedback on how others have used Square for physical inventory in retail stores. We followed the guide linked below. (https://squareup.com/help/us/en/article/7401-inventory-counting-with-square-for-retail)

We have used many other POS programs over the past several decades... all of them have done some version of the following:

1) Report Inventory Value (at cost) prior to physical inventory

2) Allowed a method to count all inventory on hand

3) Option to zero out of anything not counted

4) Report Inventory Value (at cost) after the physical inventory containing only the items present and counted.

...then you can compare the report before to the report after to find your shortage.

After completing the physical count using Square, I can see where counted inventory has been adjusted to the physical count, but I do not see an option to zero out items not counted. Without this option, I see no way to get an accurate value of the physical inventory count. Am I missing something?

Thanks in advance for any help and|or feedback!

Re: Year End Inventory Reconciliation

TCSlaguna — Wed, 12 Jan 2022 21:53:09 GMT

Hello @mix2021

We zero out everything before doing the Inventory Count.

See a discussion here:

https://www.sellercommunity.com/t5/Square-for-Retail-Discussion/Can-multiple-scanners-phones-do-physical-inventory/m-p/328536#M18984

Re: END OF YEAR INVENTORY

Gladlee_AdornU — Fri, 18 Feb 2022 03:55:38 GMT

This is not working for me. It's only letting me go for the per day sales. I need the end of the year inventory

Re: Year End Inventory Reconciliation

SRSP — Thu, 25 Aug 2022 01:41:50 GMT

I have no idea if this answers your question or not, and I am brand new to Square and to bookstore management. But FWIW, what we did is:

I exported an Excel spreadsheet with what Square thought we had.

I gave our counters a copy of this spreadsheet with an extra column added so they could either ☑️ if the count matched an item, or write in the # that they counted.

I went through the sheets and tallied everything on a master sheet. (we may have the same item in different locations)

Then I used the original Catalog Export and entered any different numbers in the New Quantity column, including 0 for any item not counted.

I then imported (MODIFY, not replace!) to update all of the items to the counted amount at one time.

Re: Year End Inventory Reconciliation

AlannahMonica — Thu, 09 Mar 2023 23:56:09 GMT

I am also really struggling with not being able to 0 out what wasn’t counted. The stock counting feature doesn’t seem to have a way to do this either. I figured after I did the stock count thing on Square for Retail, I could sort of ‘complete’ it and it would update my inventory to reflect what I counted. I thought I could then print something off that would show the discrepancies and I could either try to find the missing items or something.

I hate that Square has no proper year-end inventory tracking system. We have to do it manually and it takes days

Re: Year End Inventory Reconciliation

TCSlaguna — Fri, 10 Mar 2023 23:32:49 GMT

Hi @AlannahMonica

The Inventory Counting with Square for Retail feature was updated on January 11, 2023.

With Full Inventory Counting, after you scan the items in:

"Uncounted variations will have their stock set to zero once the reviewed count is approved."

Square has make significant improvements to the inventory counting process. I would definitely check it out.

Re: Year End Inventory Reconciliation

AlannahMonica — Thu, 16 Mar 2023 18:42:11 GMT

Turns out when I downloaded Square for Retail, it wasn't the most up-to-date version. I'm not sure how that happened though. I only downloaded Square for Retail this March, I think last Thursday when I posted here actually. I use the Square Point of Sales in my shop so I downloaded Square for Retail just to do Inventory.

After I updated the app though, the feature showed up properly and I'm super happy to see that function available for when I'm done the count. 🙂

Re: Year End Inventory Reconciliation

TCSlaguna — Thu, 16 Mar 2023 23:34:39 GMT

That's great to hear. Let us know how inventory counting goes! Tips and tricks would be greatly appreciated. We are planning on doing inventory counting on July 4th.

Re: END OF YEAR INVENTORY

TreeHouseToys — Wed, 29 Mar 2023 02:13:22 GMT

Hi, were you able to get year end inventory? I am also having trouble. Thanks.

Re: END OF YEAR INVENTORY

MayaP — Thu, 30 Mar 2023 14:40:29 GMT

Welcome to The Seller Community @TreeHouseToys! We are happy to have you. Unfortunately Square does not have a specific report that would provide end-of-year inventory. I would add your voice to our feature request on our Ideate Board. Please make sure to provide as many details on your business need for this feature. To learn more about how feature requests work, please see this post (squ.re/Ideate-Commuity) from one of our Seller Community Moderators. We will make sure to provide updates on this request on that thread as they become available. Please let me know if you have any other questions.

Re: Year End Inventory Reconciliation

AlannahMonica — Wed, 19 Apr 2023 19:09:03 GMT

It was pretty easy and I loved that it made our inventory counts accurate. I don’t like that I can’t print off the information though. Not sure why I would need to print it off but I just like the option.

And I would love to be able to analyze the data better, or pull up a list of the “missing items” so I can make a list of what was stolen from the shop, or donated, etc.

It’s a really good system for updating inventory counts but that’s it.