To create, change, or delete Stock via Physical Inventory, open the Physical Inventory window by clicking on Physical Inventory from the Application Menu. The icon in front of the Physical Inventory menu item indicates that it is a window.
The window allows you to generate inventory count lists. These counts can then be processed to update the actual inventory with the new counts.
Physical Inventory
Use the Inventory Count tab to define the parameters for a manual count and adjustment of inventory. Click the New Record button. Enter a Document Number or allow the system to assign one.
Enter a Description.
The Warehouse indicates where the stock is to be counted.
The Movement Date defaults to the current date but may be updated if necessary.
Select a Document Type for this Physical Inventory. The standard one is Material Physical Inventory but you may add others if necessary.
Click the Create Inventory Count List button after saving the record to generate your inventory count lines.
Select a Locator by clicking on the icon in the field. A dialog window will display. Click OK to continue.
You may also leave the Locator blank to use all locators.
Select a Locator Key (full or partial value) to create an Inventory Count List for selected Locators.
Select a Product Key (full or partial value) to create an Inventory Count List for selected Products.
Select a Product Category and an Inventory Quantity. Possible selections for the latter are: not 0, < 0, > 0 and = 0.
Select a Set Inventory Count to option of On Hand Qty or Zero.
Select the Delete old/existing records check box if you want to delete any records from previous executions of the Create Inventory Count List.
You may run the Create Inventory Count List multiple times to get different subsets of products to count. When you run it multiple times do not select the Delete old/existing records check box. If this check box is selected the existing records will be deleted. Leaving this check box deselected will cause the Inventory Count List to be appended with the new records.
The records selected must meet all of the criteria entered.
Click OK to display your Inventory Count List. If the process completes successfully, the bottom line displays how many records were inserted.
To print a list for the manual check you first need to open the Inventory Count Line tab and display the Data Grid.
Create a Report by clicking on the Report button on the toolbar.
The Report displays.
Print the Report by clicking on the Print button on the toolbar. Now you do your manual check (your actual physical inventory) and compare the report with the actual inventory. Note down changes on the report and enter these changes in the Inventory Count Line tab. Switch to single record view by selecting the data grid toggle tool bar button.
Enter the new Quantity count, which can easily be compared with the Quantity book count. System will post the difference between the 2 values (in this case -2). This allows you business to continue (Customer Shipments and Material Receipts) even if there is a delay between the counting and the processing of the count.
When looking at the grid view we saw that there were two records for Inner Tube. That is because the Inner Tube is stored in the Warehouse with an Instance Attribute (as seen in the single record view above). When a product is stored with Instance Attributes you will receive one row for each unique attribute for that product.
For more information on Product Attributes, refer to the ProductGeneral Chapter.
If desired you can enter a Description for each line.
Select an Inventory Type of Inventory Difference or Charge. If you select Inventory Difference the loss or gain of inventory is booked to the Warehouse Difference Account defined for this Accounting Schema. If you select Charge a field for selecting a specific Charge is displayed. This allows you to account for specific differences in inventory due to shrinkage or damage. It also allows you to move items out of inventory for internal use and account for them properly.
The Attribute tab is a read only tab which will show the Inventory broken down by its receipts into inventory. This will appear only if you have selected the Advanced Tab option in Preferences.
Save your entries before opening another line. Enter all your values and then go back to the Inventory Count window.
If you want to continue your physical inventory the next day, you can do so. You can collect your counts and enter them using the Inventory Count Line tab at any time. Another option is to process the counts you have done at that time. Then go back to the Inventory Count tab and click on the Update Quantity button. This button recopies the info in the system for inventory to the lines. The correct amounts that were processed will now be reflected in those counts.
If you have completed the physical inventory, click on the Process Inventory Count Button to update your inventory. The movement will also appear in the Product window, Transactions tab so you have an audit of all movements of the product.
If the process completed successfully, the bottom line displays how many records were updated. The Not posted button appears. Click on it and confirm the dialog window that displays.
Internal Use Inventory
Open the Internal Use Inventory window by clicking on Internal Use Inventory from the Main Menu. The icon in front of the Internal Use Inventory menu item indicates that it is a window.
This window allows you to move items out of stock that will be used by the company as opposed to being sold to a customer.
Enter a Document No or allow the system to assign one.
Enter a Description if desired.
Select the Warehouse from which the inventory will be taken.
Enter Movement Date for the document.
Select a Document Type for this Internal use Inventory.
The Approval Amount field is not used at this time.
When you have completed entering in the required data, Save the record and select the Internal Use Line tab to enter the items to be moved.
Enter a Line No or use the system default value.
Enter a Locator or accept the default.
Select a Product which will be removed from Inventory.
Select an Attribute Set Instance, if appropriate.
Enter a Description if desired.
Enter the Internal Use Qty for this line.
Select the Charge account to be used when accounting for this reduction of Inventory.
Save the record.
Continue entering Internal Use Lines until all items necessary have been entered.
For additional information on Attribute Set Instance, refer to the ProductGeneral Chapter.
Click on the Internal Use tab to process this document.
Select the Complete button to process this Internal Use Inventory.
The Document Status is now marked "Completed" and this document may now be posted.
Inventory Moves
Open the Inventory Move window by clicking on Inventory Move from the Main Menu. The icon in front of the Inventory Move menu item indicates that it is a window.
This window allows you to move inventory from one locator or warehouse to another. After the appropriate lines are entered selecting the Process Movements button will adjust the inventory.
The Move Tab defines and identifies the movement of an item or items in inventory. Click on the New Record button to create a Movement. Enter the Name and a Description if you like.
Enter a Movement Date and Document Type.
Enter a Project and Campaign if desired for referencing this Inventory Move. These fields will display only if they have been selected for your Accounting Schema.
When you have completed entering the necessary data, click the "Save" button and continue.
Switch to the Move Line tab to enter the items to be moved.
Enter the Product, Attribute Set Instance, (if appropriate) the Movement Quantity, and the Locator To which the product is to be moved.
The Scrapped Quantity, Target Quantity, and Confirmed Quantity will be updated based on the values entered in the Confirmation for this Inventory Move. Confirmations are optional documents that may be utilized.
Now switch to the Move tab and click on the Process Movements button to adjust your inventory.
If the process completed successfully, the bottom line displays how many records were updated.
To print a document for this Inventory Move, select the Document Print button on the tool bar.
The Not posted button appears if the process was successful. Click on it and confirm the dialog window that displays. Your application server must be running for your accounting entries to be created and posted.