Uncounted Old Inventory

This report lets you identify items that either may not physically exist anymore or have very slow sales velocity. This will allow for proper reporting of shrinkage or markdown of stagnating stock.

  • Role

    Inventory Manager

  • Job

    Clean up Data and Inventory

  • Recommended Use


Benefits to You:

Optimize Inventory Performance
  • Items that have poor sales history, and have gone uncounted, may not actually exist. This falsely inflates your inventory, which may inhibit ordering more of what is selling well.
Pay less taxes
  • If items are uncounted because they do not exist, they could be marked as lost or stolen and potentially written off.
Promote good inventory habits among your staff.
  • Counting your inventory consistently is a great way to make sure your employees are aware of the importance of our inventory. By easily generating a list of items to count, you have a way to build healthy inventory habits across your whole team.

How it's calculated:

(Uses a Per Store Metric: Items will appear on this list if they meet the criteria for any of your stores.)

  • Days since counted = 360
  • Days since sold = 360
  • Days since Received = 360.
  • QOH is greater than 0

In other words, this lists items that have not been counted, sold, or received in over a year.

Additional Variations:

By Manufacturer
  • Default report grouped by manufacturer, instead of by item, so you can compare which manufacturers hold the most uncounted stock.
By Top Category
  • Default report grouped by top level category, instead of by item, so you can compare which categories hold the most uncounted stock.
By Vendor
  • Default report grouped by default vendor, instead of by item, so you can compare which vendors hold the most uncounted stock.
With Shop Filter
  • For multi-shop owners, the default report with added shop filter, so you can refine the report to particular locations.
With Total Cost
  • Default report with added "Total Cost" measure, so you can see how much of your assets are held in these uncounted products.

Next Steps:

  • Assign the inventory to be counted.
  • Perform an inventory count and update inventory levels in Lightspeed.
  • Markdown items that still exist and run a shrinkage report for lost inventory.
  • Update your accounting software to reflect accurate inventory levels.