| S.No. | Field / Checkpoint | Reference | Status |
|---|---|---|---|
| A. OPENING + CLOSING | |||
| A1 | Opening stock (from last month closing) Acceptance: Carry forward correct | Per bin card | OK NC NA |
| A2 | Receipts during month (from GRNs) Acceptance: GRN register tally | Sum of GRN qty per item | OK NC NA |
| A3 | Issues during month (from Issue Vouchers) Acceptance: IV register tally | Sum of IV qty per item | OK NC NA |
| A4 | Returns + adjustments Acceptance: Returns tally | From MRNs | OK NC NA |
| A5 | Closing stock (theoretical) = Open + Receipts − Issues + Returns Acceptance: Arithmetic verified | Computed | OK NC NA |
| B. PHYSICAL VERIFICATION | |||
| B1 | Physical stock count (storekeeper + auditor) Acceptance: Independent verification | Two-person count | OK NC NA |
| B2 | Variance vs theoretical (qty + value) Acceptance: Variance % computed | Tolerance 1-2% typical | OK NC NA |
| C. VARIANCE ANALYSIS + CLOSURE | |||
| C1 | Reasons for variance — wastage / pilferage / measurement error Acceptance: Root cause identified | Each variance investigated | OK NC NA |
| C2 | Adjustment entries (with PM approval) Acceptance: PM signed | Approved adjustments | OK NC NA |
| C3 | Reconciliation closure + signed-off Acceptance: All signed | Storekeeper + Site Engineer + PM | OK NC NA |