Inventory Counting with Square for Retail
Sales, theft, loss, and incorrect or missed inventory adjustments can cause discrepancies between the inventory associated with your Square account and the physical inventory you have on hand.
To reconcile or combat these discrepancies, most retailers perform cycle or full physical inventory counts. With Square for Retail Plus, you can perform these counts from your iPad or iPhone’s built-in camera or manually input your inventory using a compatible barcode scanner. Additionally, multiple team members can count in tandem, so you can reopen your business to take sales sooner.
Note: Inventory Counting is currently only available on iOS devices. This feature cannot currently be used on a Square Stand or Terminal.
Set Inventory Permissions
To conduct inventory counts with Square for Retail, you will need to assign permissions to your team members. View the video below to learn how to add inventory counting permissions.
Stock counting permissions include:
View unit cost while counting (Point of Sale and Dashboard): Allows the role to see unit costs and total value amounts for items in a count. This permission will only impact unit cost visibility in a counting session and not other places where unit cost appears within the Square for Retail experience.
Initiate, contribute to, and commit cycle counts (Point of sale only): Allows the role to start and complete a cycle count, independent of any reviews.
Initiate and contribute to full inventory counts (Point of sale only): Allows a role to start a full count but not review or update the system.
Review, commit, and delete full inventory counts (Point of sale and Dashboard): Allows the role to review, edit, and submit a completed count to the system.
To assign inventory permissions:
From your online Square Dashboard, go to Team > Permissions and select the role type you want to allow stock counting permission.
Under Stock Counting, select the permissions you want to assign.
If the permission is for a new team member, select Save team member.
If the permission is for an existing team member, click Save.
Learn more about Getting Started with Team Management.
Cycle count is a periodic auditing process where a subset of your inventory is counted at regular intervals to maintain accurate stock levels and identify discrepancies. It is recommended to conduct a cycle count for each item variation at least once every 90 days.
You can save or cancel a cycle count at any time by tapping the X icon next to Stock count in the corner of your screen. You’ll see a pop-up that says Save Changes, and you can either save and close or discard without saving.
Note: Progress will only save on the device used to count inventory, meaning you can’t access a saved count from another device, even if the device is logged in to the same Square account.
A full inventory count is an examination of your entire stock, where each item’s quantity is physically verified and documented to align actual stock levels with the recorded data.
Note: Stock counts with multiple devices can only be done with Full counts. All devices contributing to the full count must be logged into the Square for Retail app and assigned to the same location.
Review and Approve a Full Inventory Count
After contributing to a full inventory count, you will need to review and approve the count. Be sure you have counted every item on hand before submitting a count for review.
Reviews can be submitted via the Square for Retail iOS app or the Square Dashboard.
Inventory Variance Report
An Inventory Variance Report is a comparison of the actual inventory count and the expected quantities, generated to identify discrepancies in inventory levels. You can view your Inventory Variance report or review historically completed counts via the Square for Retail iOS app or the Square Dashboard.
Export Inventory Variance Report
You can export the Inventory Variance report for a completed cycle count or the data from an in-progress or completed full count using your online Square Dashboard.