Physical Count Variance Register

 

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Print a Journal or Register

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Print a Journal or Register as a PDF

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Process a Physical Count

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Related Topics

 

 

Physical Count Entry

Daily Transaction Register

Physical Count Posting

General Ledger Posting Examples

Physical Count Worksheet

 

 

 

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Overview

Use Physical Count Variance Register to show the difference between the perpetual inventory balance that was frozen at the beginning of the physical count process with the count data entered in Physical Count Entry. Printing and updating this register is the final step in the physical count process.

The register prints the frozen on-hand quantities, the actual physical count entered in Physical Count Entry, and the difference between the two. A variance amount, based on the quantity over or short and the item’s costing method, is calculated for each item and is used to adjust the perpetual inventory during the update. You can enter a selection of item codes, bin locations, item descriptions, warehouses, inventory cycles, and product lines to print.

Note Only frozen items within the selection criteria are printed and updated. Frozen items not included within the selection criteria are not updated and remain frozen.

Review the Physical Count Variance Register for accuracy. If there are errors, return to Physical Count Entry, make the necessary changes, print the Physical Count Variance, and proceed with the update.

Warning Do not, under any circumstances, interrupt the update process.

During the update process, the following occurs:

Print the Daily Transaction Register and update the general ledger entries posted from the Physical Count Variance Register.

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