Monthly Pallet Count
What is a pallet stocktake and why does it matter?
A lack of visability is often why business leaders pay hire on pallets they are no longer using and end up paying the hirer for lost pallets. It becomes expensive and the only way to see it coming is to conduct regular pallet counts. We suggest monthly and on the same day as your reconciled pallet hire invoice.
DOWNLOAD OUR 2021 stocktake count calendar.
If you want to know how much money a business has you can’t just look at the bank account. You need to consider accounts payable, accounts receivable as well as owed entitlements and tax obligations. It is the same for pallets. You can’t just look at your on-hire balance and compare it to the number of pallets in your warehouse.
Once you have a physical count add any pallets that are owed to you and deduct any pallets that you owe to others, software makes this step easy. This is your adjusted count.
Next, take the on-hire balance from the invoice, add ‘transfers on’ that have not been processed yet and deduct unprocessed ‘transfers off’ to arrive at your adjusted on hire balance.
The difference between your adjusted count and adjusted on hire balance is your variance and a deficit means you have lost pallets, you are overpaying on hire and you are liable for the loss. A downward trending deficit means that you are still losing pallets and need to give us a call or at least make a change in your business.
