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New Feature Round-up

Physical Inventory Counting

WARNING: Please perform an inventory integrity with fix options before performing a physical count.

The Physical Inventory Count function is used to make batch based corrections to inventory quantities. Physical Count can create one large batch for the entire inventory, or many smaller batches based on various filter methods. Counts can be entered either manually or by using the Scan Batch feature to import files from data collector devices or scan in items using hand scanners. Physical Count batches can be used to print count sheets.

Variance reporting is also included in the Physical Inventory Count tool. This report will show the difference in inventory value based on the new stock count adjustments even before the count is processed.

The Physical Inventory Count tool will not make any automatic adjustments to Inventory Ledger Account when the count is processed. A jounal entry will need to be created by the bookkeeper based off of the variance report. Consult your accountant for details on creating this journal entry.
The typical physical count process is comprised of the following steps within System Five™ : 

  1) Create a count batch file in the Physical Inventory Count window - Count Batch tab, by clicking [New].
  2) Set the Batch Type in the Main sub-tab.
  3) Optionally, set options in the Options sub-tab and filters in the Filter sub-tab.
  4) Click [Build] to create a count list. The focus changes to the Count Entry tab where you can optionally click [Print] to print a hard copy.
  5) If collecting count information manually, enter collected information in the Count Entry tab and click [Save] each time you update the list.
  6) If using scanners/data collectors:  

      a) Create a scan batch file in the Physical Inventory Count window - Scan Batch tab, by clicking [New].  
      b) Set the Scan Source in the Main sub-tab (as either data collector or direct scan).  
      c) For data collectors, in the Data Collector sub-tab, click [Import] and select the correct data collector in the list, then click [Save]. You can repeat for as many data collectors results files as you want.  
      d) For scanners, in the Direct Scan sub-tab start scanning and when complete click [Save]. You can repeat as often as you want. 
  7)  Once a scan batch is saved at least once, it can be applied to a count batch to update the count list while in either the Data Collector sub-tab or Direct Scan sub-tab by clicking [Apply] and selecting the desired count batch file.  
  8)  After you are finished counting using any or all of the above methods, verify the results with the variance report, make adjustments and when done , click [Process] to commit the count to the inventory database.
physical_inventory_count.txt · Last modified: 2015/09/28 16:03 (6 years ago) by cliff