Process a Physical Count

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Use the following procedures to process physical counts using worksheets or count cards.

Expand/Collapse item  Before You Begin

Verify all inventory transactions that were received, produced, sold, or issued have been entered and updated. If you have LIFO or FIFO items, all negative tiers must be cleared before performing the physical count. For more information, see Clear Negative Cost Tiers.

If you set the status for warehouses to restricted while counting inventory, be sure to allow the use of the warehouses in Physical Count Entry and Count Card Entry in the Allow Entry of Restricted Warehouse window. Otherwise, you won't be able to selected the warehouse. For more information, see Change the Status of a Warehouse.

 

To process a physical count using worksheets

  1. Print the Physical Count Worksheet and freeze inventory items.

  1. Select Inventory Management Physical Count menu > Physical Count Worksheet.

  2. Select the report settings, print options, and enter the selection criteria for the items, product lines, and warehouses for which you are performing the physical count. For more information, see Physical Count Worksheet - Fields.

  3. In the Report Options field, select Print Worksheet and Freeze Items.

  4. Click Print. Count the actual items in stock and record the information on the worksheets.

  1. Use Physical Count Entry to enter the actual count from the Physical Count Worksheet.

  1. Select Inventory Management Physical Count menu > Physical Count Entry.

  1. Enter the warehouse to enter counts for. For more information, see Physical Count Entry - Fields.

  2. On the Header tab, select the appropriate options for sorting the physical count, product and procurement types to print, and enter the selection criteria.

  3. On the Lines tab, enter the actual quantities from the physical count.

  4. Click Print.

  1. In the Physical Count Variance Register window, select the appropriate options for sorting the register, product and procurement types to print, and enter the selection criteria. For more information, see Physical Count Variance Register - Fields.

  2. Click Proceed. Review the results and conduct a recount if necessary. Go to step 5 if no changes need to be made.

  1. When prompted to update the Physical Count Variance Register, click Yes.

The quantities in inventory match the quantities on the Physical Count Worksheet.

To process a physical count using count cards

  1. Freeze inventory items.

  1. Select Inventory Management Physical Count menu > Physical Count Worksheet.

  2. Enter the selection criteria for the items, product lines, and warehouses for which you are performing the physical count. For more information, see Physical Count Worksheet - Fields.

  3. In the Report Options field, select Freeze Items Only, and then click Print.

  1. Collect and enter the count information.

  1. Count the actual items in stock and record the information on count cards.

  2. Select Inventory Management Physical Count menu > Count Card Entry.

  3. Enter the count card number and item information from each count card. For more information, see Count Card Entry - Fields.

  1. Print and review count card information.

  1. Select Inventory Management Physical Count menu > Missing Count Card Listing.

  2. Enter the range of card numbers entered in Count Card Entry, along with any count card number(s) to exclude from the listing. For more information, see Missing Count Card Listing - Fields.

  3. Click Print and review the listing to determine if any count cards are missing. Return to Count Card Entry and enter additional information if needed.

  4. Perform one of the following to print the Count Card Report:

  5. In Count Card Entry, click the Print button.

  6. Select Inventory Management Physical Count menu > Count Card Report.

  1. Select the appropriate sorting and printing options and enter the selection criteria. For more information, see Count Card Report - Fields.

  2. Click Print. After the report prints, a message appears asking if you want to print the Count Card Variance Register. Click Yes if you want to print the Register, or click No and proceed to step 4.

  3. If you clicked Yes in step f, the Count Card Variance Register window appears. Select the appropriate sorting and printing options and enter the selection criteria. Click Print.

  1. A message appears asking if you want to update the Count Card Entry data to Physical Count Entry. If you need to make adjustments to the count data, either return to Count Card Entry, or proceed and make the adjustments in Physical Count Entry. Click Yes to update Physical Count Entry.

Note The records will be cleared from Count Card Entry after they are updated to Physical Count Entry.

  1. Select Inventory Management Physical Count menu > Physical Count Entry. The Physical Count Entry window appears.

  2. In Physical Count Entry, on the Lines tab, review the data from Count Card Entry and make adjustments as needed. For more information, see Physical Count Entry - Fields.

  3. Click Print.

  4. In Physical Count Variance Register, select the appropriate options for sorting the register, product and procurement types to print, and enter the selection criteria. For more information, see Physical Count Variance Register - Fields.

  5. Click Proceed. Review the results and conduct a recount if necessary. Proceed to step 11 if no changes need to be made.

  6. When prompted to update the Physical Count Variance Register, click Yes.

The quantities in inventory match the quantities on the count cards.