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Entering content frameProcess documentation Physical Inventory Process 

Purpose

Regardless of the physical inventory method, the process of physical inventory can be divided into three phases:

1.

Physical Inventory Preparation
  • Create a physical inventory document.
  • Blocking Materials for Posting
  • Print and distribute the physical inventory document.

2. Physical Inventory Count

  • Counting stocks
  • Entering the result of the count on the physical inventory document printout

3. Physical Inventory Analysis

  • Entering the result of the count into the system
  • Initiating a recount, if necessary
  • Posting inventory differences

Process Flow

The physical inventory procedure is carried out in three steps:

1. Creating a Physical Inventory Document

2. Entering the Physical Inventory Count

3. Posting inventory differences

You can also group together individual phases and carry them out in a single step, as follows:

  • posting the physical inventory count without reference to a physical inventory document

In this step, the following are combined:

– a physical inventory document is created.

– the count is posted.

  • posting the physical inventory count and inventory differences

If a physical inventory document exists, the following are combined in this step:

– the count is posted.

– any inventory differences are posted.

  • posting the physical inventory count without reference to a physical inventory document

In this step, the following are combined:

– a physical inventory document is created

– the count is posted

– any inventory differences are posted

Monitoring the Inventory Status

To monitor physical inventory processing, each physical inventory document records the inventory steps that have been carried out. This information is contained in the item data and the document header.

  • Inventory history in the item data

The inventory history informs you which steps have been carried out for the item.

  • Document header

In the document header, the fields Count status, Adjustment status and Delete status specify whether some or all of the items have been counted, posted (inventory differences), or deleted.

You can also display statistics for the physical inventory document; the statistics list how many document items are open, counted, posted (inventory differences), recounted, or deleted.

Result

When you post the inventory differences, the system adjusts the book inventory values and book values so that they correspond with the actual stocks and stock values.

 

 

 

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