Regardless of the physical inventory method, the process of physical inventory can be divided into three phases:
Physical Inventory Preparation
Create a physical inventory document.
Blocking Materials for Posting
Print and distribute the physical inventory document.
C ounting stocks
E ntering the result of the count on the physical inventory document printout
Entering the result of the count into the system
I nitiating a recount, if necessary
P osting inventory differences
The physical inventory procedure is carried out in three steps:
Creating a Physical Inventory Document
Entering the Physical Inventory Count
Post ing 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
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.
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.