Inventory in a pharmacy

How to take physical inventory in a drugstore

Inventory of items in a drugstore has features that are not inherent in other types of activities. Drugs are monitored not only by standard parameters such as the supplier, the date of acceptance and volumes but also by the form, dosage, packaging and name.

Separately, the importance of accounting by expiration dates should be noticed. The sale and storage of medicines after the expiration dates is prohibited. In this regard, the responsibility is much higher than in ordinary stores, since expired medicines can cause irreparable harm to human health.

To track the expiration dates, we recommend using the EqMan application – the software conveniently displays all the dates which are easy to track. If expired drugs are found during the internal audit, they are written off, withdrawn or destroyed. Some medicines are sent to the manufacturer for processing. A certificate shall be drawn up regarding the actions taken, otherwise, the company will be liable, including criminally.

Why the drugstore inventory and stocktaking are required

Competent organization of accounting in a drugstore means not only the achievement of good financial performance and profit growth. It is also a sustainable business. After all, well-established operations, fast service and the absence of errors are helping the population in the fight against ailments. And compliance with the rules and regulations guarantees safety and legality because violations in this area are much more seriously punishable by law than in common trade. Therefore, automation is not a whim, but a necessity.

When to take drugstore inventory

The inventory of a drugstore’s fixed assets is carried out with different frequency:

• A full reconciliation of all drugs, equipment and consumables is usually carried out every two or three years, including reconciliation not only of inventory items but also of the condition of premises owned and leased, as well as an inspection of safes, furniture, shelves.
• The annual internal audit is carried out once a year, is scheduled and ends before the submission of annual reports. Includes an inventory of products and cash.
• Intermediate reconciliation. It is appointed by the management and can be scheduled or unscheduled. It helps to get real information instead of nominal and may be ordered by regulatory authorities.

How to issue drugstore inventory results

There are different types of drugstore inventory determining the form of documentation of the results. If reconciliation is carried out at the request of higher authorities, then reporting shall be prepared in accordance with their requirements.

Certain categories are documented differently. For example, narcotic and psychotropic substances are a separate item and require the presence of a special commission. They are subject to reconciliation once a month. This also applies to superpotent and poisonous substances. All drugs that require a special type of accounting are indicated in the lists of the Ministry of Health.

Carry out internal audits quickly and correctly with our specialized application!