Material Physical Count

Organizations that use the Materials and the Purchasing modules, might need to perform a physical count to determine if the stock counts are correct. The method of performing a physical count varies according to organization. Some organizations perform counts on their entire warehouse at once, others do it by location within the warehouse or by selecting specific items to count.

After performing a physical count, you can compare the number of items listed in inventory to the actual number of counted items. Items that don't match up are said to have either a negative or a positive variance. Once a physical count is performed, you can adjust the quantities to reflect the actual number of materials that you have. Organizations can then decide which items they need to reorder, transfer to another warehouse, or eliminate.

To enter physical count values, follow these steps:

1. From the Materials menu, select Material Physical Counts.

2. From the Warehouse drop-down menu, select the warehouse that contains the materials you counted.

3. From the Date drop-down menu, select the date when you completed the physical count.

4. In the Material Physical Counts area, click New.

   The Material Physical Counts window opens.

5. In the Item field, enter the item number of the items that were counted.

   You can use the Lookup button to select the item. Once selected, the Item Description and Quantity on Hand are automatically filled in.

6. In the Counted Quantity field, enter the number of items that were counted.

7. Click Save to save the count or click Another to save and then add additional physical counts.

   The physical count entry is saved. You can edit a physical count by clicking the Edit button.