A stocktake is a physical count of your inventoried items, and is necessary on a periodic basis because, no matter how careful you are, the actual items that you hold will differ from those in MoneyWorks. You are normally required to do a physical stocktake at year end.
The stocktake facility in MoneyWorks allows you to do as many stocktakes as you require, either in whole or in part. Larger organisations for example might do a rotating stocktake, where a stocktake is done on one category of product one month, another category the next month and so forth.
As of MoneyWorks 9.1, it is possible to do stocktakes on an iPhone/iPad using MoneyWorksGo and the Remote Warehouse MoneyWorks Service.