• The Physical Count is entered into a batch that is created automatically by the system.
• You can enter data and then save the batch using the Done button; later, you can continue entering data before processing.
• The batch is not processed until you click the button, Apply Physical Count. When you do, the system creates receipts or credits, as applicable.
• When you click Done or Apply Physical Count, a message provides information about the validation and processing status of the batch.
• When creating Inventory Receipts, these receipts are approved in Inventory Receipts and non-editable from the Physical Count.
• Adjustments to inventory made through Physical Counts affect history for On Hand, Valuation, and Quantity for the Warehouse Items (inventory items) you are counting.
• Adjustment amounts are calculated at time of entry and those adjustments are used to create the transactions, i.e., receipts or credits.
• You can work on only one Warehouse at a time, and you can have only one open Physical Count per Warehouse.
• If other receipts / shipments for the Warehouse Item have occurred after the Physical Count was started, the Quantity on Hand will not match the Physical Count value.

Header

Add Physical Count

Use this button to add a Physical Count record.

Grid

Note

Clicking on a column label allows you to sort the grid by that column.

Filter Buttons in column headers allow you to change what appears in the grid.

Grid pagination controls at the bottom of the grid can help you to locate a Receipt.

Physical Count ID

The Physical Count identification that appears on lists and in reports.

Document ID

The user-defined identification of the document used to identify the record.

Warehouse ID

The identification for the Warehouse that contains the inventory being counted.

Description

The user-defined description for the Physical Count. Examples: Northside Complex A Warehouse, Regional Warehouse East.

Date

The date of the transaction.

Delete

Use the Delete icon to delete a Physical Count.

Document ID

The document ID, which is used to identify the record. This is the invoice number, receiving document number, or other relevant number to be used for tracking and identification for the batch

Click in the field to enter or edit the ID.

Warehouse ID

The Warehouse identification that appears on lists and in reports.

To add or edit the Warehouse ID, click the Lookup icon to display the Select Warehouse pop-up and select a Warehouse.

Accounting Date

The Accounting Date defaults in from the login date. This field is editable.

Click in the field and use the electronic calendar to change the date.

Post to GL (check box)

Checked (default) - Batch transactions to the General Ledger are created.

Unchecked - No batch transactions are created. Only the counts on the warehouse items are updated. This option is used to add the balance forward inventory quantity without adjusting the General Ledger.

This can be used for beginning balances because it allows you to define the quantity of items on-hand before you begin processing inventory. You can use this option to balance pre-existing General Ledger inventory asset accounts with the inventory on-hand quantities. You can also use Upload Data to add beginning balances.

Calculate

Click Calculate to enter a quantity in up to three different units of measure: Issue, Store, or Order. The Calculate button shows only when there are different units of measure for the Item in the Item Master General Tab for the Warehouse Item.

Item ID

The read-only Item ID.

Quantity

If the system On Hand count is different from the Inventory Physical Count then you can make corrections by entering the Physical Count amount in the Quantity field. The system quantity includes items available and items on reserve. Enter the actual quantity for the item.

Enter Quantity

The quantity for the Warehouse Item is updated when the Enter Quantity field is completed.

Enter a quantity for the Warehouse Item for each unit of measure that appears. These fields appear as applicable, when there are two or three different units of measure.

Issue (for example pallet)

Store (for example cart)

Order (for example, box)

Stored Units per Order Unit (for example, 100)

Issued Units per Store Unit (for example, 10)

Save

When done entering values in the Enter Quantity fields, click Save.

Done

Click Done when finished entering data. The record saves and you are returned to the grid. The batch is not processed until you click Apply Physical Count.

Apply Physical Count

Click Apply Physical Count and when you confirm, the process automatically creates appropriate inventory receipt and/or credit transactions, puts them into a new batch, and approves the batch. This process cannot be reversed.

At the confirmation message, click OK to continue with the posting process, or click Cancel.

NOTE that when a value is entered in Qty Counted, then the Qty Adjusted field is updated. Unit Cost defaults in but is editable.

Seq No

The system-generated sequential number associated with the line items that make up the transaction.

Item ID

The read-only Item ID defaults in from Warehouse.

Description

The read-only Description for the Item defaults in from Warehouse.

Bin

The read-only Bin (if any) in the Warehouse for the Item defaults in from Warehouse.

UOM

The read-only Unit of Measure for the Item defaults in from Warehouse. This is the Warehouse Item's lowest unit of measure.

Original Qty

The read only Quantity on Hand for the Item from the Warehouse.

Qty Counted

Enter or edit the quantity of the Warehouse Item that was counted. Any Qty Counted value that has been entered is saved.

Qty Adjusted

The difference between Original Qty and Qty Counted. After first selecting a Warehouse, this field is blank.

The value in this field is calculated by the system and determines the quantity on the receipt/credit.

Unit Cost

The unit cost of the Warehouse Item. Unit cost is the unit cost on the receipt/credit; this defaults in from Warehouse Item and can be 0.00. Unit Cost is editable.

1. Select Inventory—Transactions—Inventory Physical Count and then click Add Physical Count.
2. Complete the fields that appear. Use the Fields list for help.
3. Click Done when you are finished entering data; or click Apply Physical Count to automatically create and approve the batch and process the transaction.

NOTE that after closing and going back in as Edit:

• Any Qty Counted value that has been entered is saved.
• Qty Adjustment determines the quantity on the Receipt/Credit.
• Unit Cost is the unit cost on the Receipt/Credit; it defaults in from Warehouse Item
• You can process any time, even when not all Qty Counted fields have been entered.

1. Select Inventory—Transactions—Inventory Physical Count.
2. Use the fields in the Header of the grid, or use the Filter buttons on the grid, to locate the Physical Count you want to edit, if necessary.
3. Select the link in the Physical Count ID column for the count you want to edit. The Edit Physical Count page appears.
4. Use the Fields lists to help you edit the Physical Counts information.
5. Click Done when you are finished entering data; or click Apply Physical Count to automatically create and approve the batch and process the transaction.

1. Use the fields in the Header of the grid, or use the Filter buttons on the grid, to locate the Physical Count you want to delete.
2. Click the associated Delete button in the Delete column.
3. Click OK to confirm the deletion.

Warehouse ID must exist and cannot already be associated with an open Physical Count.

Inventory beginning balances can be entered using:

• Inventory Physical Count with the Post to GL check box unchecked.
• The Upload Data process in Data Transfer.

When a Warehouse Item has an Overhead Percentage specified, in addition to the debits to the inventory asset expense code and the credit to the inventory liability expense code, there is a credit to the inventory overhead expense code. The amount is included in the inventory asset expense code for valuation purposes.

The valuation report includes the overhead percentage in unit cost.For example, the Warehouse Item has a unit cost of $10.75 and an overhead percentage of 10%.On the Valuation Report, the last receipt would use the valuation unit cost of $11.825 (current unit cost of $10.75 + $1.075 (10% overhead percentage of the unit cost).

• Batch Proof report shows PC for Physical Count and then the Batch ID.
• Total values are the calculation of the adjusted quantity of each Warehouse Item * Standard Cost.
• Accounts shown on the report are Inventory Asset and Inventory Expense account from the Warehouse expense codes. When using dual books entries will be for both EntitiesCompanies.

• Run the  General Ledger report for period/fiscal year of the transfer. Check Include Unapproved Transactions.
• Find the Inventory asset account for the warehouse. It is a line with the Batch ID and Receipt. Amounts can be debits or credits.
• Offset entries are to the Inventory Expense account for the Warehouse.

Inventory Valuation

• Run Inventory Receipts with Include Receipts in Approved Batches checked.
• Select the Inventory ID for the Physical Count batch released.
• Each Warehouse Item adjusted in the Physical Count appears in the grid with the Quantity Adjusted value appearing as the Quantity Received and the Unit Cost from the Warehouse Item.

Basic Inventory License

• As you are just tracking quantities, you can update the Physical Count Receipt.
• Each Warehouse Item adjusted in the Physical Count appears in the grid with the Quantity Adjusted value appearing as the Quantity Received and the Unit Cost from the warehouse item.

For a Basic Inventory License, results will be the same as when the Post to GL option is not selected on the Physical Count.

• No GL Transactions are created.
• Only the Quantity on the Warehouse Items is updated.