11 April 2012
Obtain cut off documents first i.e. last receipt of goods and last dispatch of goods for the period ended and also the first receipt and first dispatch of the next period. Then obtain the total quantity of stocks as per books of accounts product wise and then compare the same with Physical stocks. Dont forget to make a note and report the following: Stocks sold and invoice raised but not yet dispatched. Stocks came into premises but not yet accounted. Damaged, expired and about to expiry stocks. Stocks which are not at all brought into books. There is no specific due date for submission of report. It depends on terms of engagement.
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