What is the definition of a Stocktaker? A Stocktaker is an individual that is professionally trained to count various diverse types of stock to cater for any businesses requirements. What exactly is Stocktaking? The term Stocktaking refers to the process of gaining an accurate record of stock levels. This is achieved by completing a Stocktake in which all the stock that a business is currently holding is counted. The reports produced by Stocktakers carrying out Stoketakes are normally used for general stock monitoring and accounting purposes. Deciding whether or not your particular business needs to carry out regular Stocktakes is dependent on whether your business carries levels of stock that fluctuate over time. A regular Stocktake by a qualified Stocktaker will assist in your business doing well by keeping you in firm control of your businesses inventory at all times. A detailed Stocktake should be carried out at least once per annum although a professional Stocktakers opinion may recommend a higher frequency of Stocktakes to acquire full and accurate control of your businesses stock levels consistently. An experienced Stocktaker will be able to conduct a professional Stocktake with a minimum of fuss and disruption to the client; usually trade is permitted to continue as normal. Stocktaking can form an essential part of a transaction as a Stocktake can be carried out by Stocktakers on behalf of either vendors or purchasers, this is commonly known as a valuation Stocktake and ensures that both the vendor and the purchaser are getting the purchase/sale that they have agreed to. As part of the Stocktakers role they have a responsibility to provide purchasers and vendors alike with a fair valuation of stock. A Stocktaker is permitted to provide services to purchasers or vendors or both parties. There is no guess work involved in a Stocktake with every item of stock counted, Stocktakers will ensure that any stock that is out of date, damaged or for any other reason is non saleable would not be included in Stocktakes. During a valuation Stocktake the Stocktaker would provide the Stocktake at retail value and a cost figure on the day. Once the valuation Stocktaking is complete the final figure is written into a legally binding document and signed by all parties. It is usual practice for the Stocktakers fees to be divided between the parties involved in the transaction and for the valuation Stocktake to be completed on the day of the business completion or on a date previously agreed between the vendor and purchaser. It is interesting to note that Stocktaking fees are tax deductable with Stocktake valuation certificates being acceptable to both Tax and VAT inspectors. A regular full Stocktake can be of untold benefit to a business especially in the markets current downturn conditions. Accurate Stocktaking enables a business to stream line and operate as economically as practically possible. Preventing the burden of your business carrying unnecessary excesses of stock will prevent avoidable waste as well as free up finances for other purposes. During the current economic struggle using an experienced Stocktaker could save you money be one of the determining factors of your businesses survival.