As mentioned earlier, a stocktake is generally performed once a month, at the end of the month. The purpose of a stocktake is providing accurate accounting data and identifying any discrepancies between the stock in the warehouse and the stock reflected in the accounting records.

How often are stock takes done?

Stocktakes can be done as frequently as daily where you would do a spot check on one item. Weekly stocktakes may involve an isle or set number of items.

Do I need to do a stocktake?

"If your business buys or sells stock, you usually need to do a stocktake to value your stock at the end of each income year if: ... or the difference between your stock level at the beginning and end of year is more than $5,000 (you can make a reasonable estimate to determine this)."