Generating a physical inventory counting sheet

Generate a physical inventory counting sheet to create a snapshot of the data in your online inventory that you will use to compare with the data you gather during your cycle count. Creating a physical inventory enables you to specify the store and inventory parameters that identify the materials for which you will perform your cycle count.

Enter inventory parameters as necessary to generate a more narrow or specific list of part data captured by the physical inventory snapshot. You can also enter a Physical Inventory Date. If you specify a date, the system only includes items in the physical inventory that have been entered into stock prior to the date specified.

Note: You can also enter wildcards for the Part, Part Class, Stock Class, From Bin, and To Bin inventory parameters as necessary to generate data. If you know all but one character, you can enter the characters you know, and substitute _ for the unknown character. If you only know a portion, you can enter the portion of the parameter that you know, and substitute % for the remaining portion. For example, if you enter P% for Part, the system retrieves all parts that begin with the letter "P." If you enter %PIP% for Part, the system retrieves all parts with codes that include the letters "PIP."

When you generate a physical inventory record, the system only saves the snapshot of your online inventory data generated by the physical inventory. It does not save the parameters you enter. You must enter the parameters upon which to base generation of a physical inventory record each time you want to generate a physical inventory record.

After you physically count your inventory, you can update your online inventory data on the Parts page of the Physical Inventory form to reconcile any discrepancies in your physical and online inventory. After reconciling any differences in your inventory data, you can update the status and/or approve the physical inventory based on your status change authorization privileges. However, the system enables and/or protects the fields available for update based on the status from which you are updating the physical inventory. Status changes for physical inventory Status change authorizations are set up for the TRAN entity on the Status Authorizations form.

If you create a physical inventory record and are unable to perform the actual cycle count immediately, the system also enables you to refresh an existing physical inventory to update the expected quantities in the physical inventory data snapshot.

To generate a physical inventory counting sheet:

Open the Physical Inventory form.
Click New Record.
Store—Select the store for which to create the physical inventory.
Physical Inventory—Enter a description of the physical inventory in the adjacent field. The system assigns a physical inventory number after you save the record. The system automatically populates Created By and Date Created.
Status—Select the status. The system automatically assigns Unfinished status to the physical inventory, or the equivalent user code status.

Note: If the SDATE installation parameter is set to YES, the system updates the Physical Inventory Date to the current date when the status of the physical inventory is set to Approved.
Part—Enter the part for which to create the physical inventory.
Part Class—Enter the part class for which to create the physical inventory.
Stock Class—Enter the stock for which to create the physical inventory.
ABC Class—Select the ABC class for which to create the physical inventory.
Include Consignment Item(s)—Select to include stock records for consignment items, or items in stock that haven't been paid for, in the physical inventory.
From Bin—Enter the bin from which to create the physical inventory.
To Bin—Enter the bin to which to create the physical inventory.

Note: Use From Bin and To Bin to indicate a bin range for which to create a physical inventory for numbered bins. For example if you have numbered your bins consecutively, e.g., 001, 002, 003, 004, 005, etc., and you want to create a physical inventory taken from the inventory contained in bins 001 through 005, enter 001 for From Bin and 005 for To Bin to capture a physical inventory for the stock contained in bins 001 through 005.
Physical Inventory Date—Enter the reference date for the physical inventory. If you enter a date, the system selects only those parts whose Stock Date (the date the part is entered into stock) is before the date entered for Physical Inventory Date.
Include Child Store(s)—Select to include stock records for all child stores of the selected Store in the physical inventory.
Include Out of Service Item(s)—Select to include stock records for out of service parts in the physical inventory.
Click Save Record.

Note: After generating the physical inventory and printing the counting sheet, transactions such as issues, returns, and receipts may occur before the database is updated. To update the expected quantities to reflect the current levels in the database, you can select a physical inventory record to update, right-click on the form, and then select Refresh Inventory. The system updates the expected quantity of the parts on the physical inventory record on the Parts tab of the Physical Inventory forms to the current levels. However, you can only refresh the physical inventory if the Status is Unfinished.