Phone: 614.837.1639 | Fax: 614.864.0194


Physical Inventory Procedure:

1. Print Physical Inventory Report or Spot Check Report for desired location. This report can be printed by selecting INVENTORY MASTER FILE REPORTS. CHOOSE ‘Physical Inventory Report’ or ‘Spot Check Report’ as REPORT TYPE. Choose SHELF/BIN Location as the SORT ORDER for the report. If you are printing the report for ONE LOCATION, enter or choose (DOUBLE MOUSE CLICK/RIGHT MOUSE CLICK OR F10) the LOCATION in both the FROM and TO LOCATION fields displayed on the selection screen.
2. Print the LOCATION SUMMARY LEDGER (FIFO) Report. This report will print a summary of the inventory value by location.
3. Print the LEDGER SUMMARY (FIFO) Report. This report will print a summary of each item for all items or items for a selected LOCATION.
4. Record NEW QTY ON HAND and DATE on Printed Report
5. Record PHYSICAL INVENTORY DATE and PHYSICAL INVENTORY QUANTITY in Inventory Master File (ENTER PHYSICAL INVENTORY COUNTS). Move fields to be updated to beginning of Browse window.
6. RECALCULATE GPI BALANCE ON HAND (MAINTENANCE/RECALCULATE GPI BALANCE ON HAND). This procedure can be run for one PHYSICAL INVENTORY DATE or a RANGE OF PHYSICAL INVENTORY DATES. The Quantity on Hand will be recalculated for items that have a PHYSICAL INVENTORY DATE entered in the Inventory Master File. An Inventory Adjustment record will be created for any negative difference between the current QTY ON HAND and the PHYSICAL INVENTORY QUANTITY. An Inventory Receipt record (flagged as ADJUSTMENT) will be created for any positive difference between the current QTY ON HAND and the PHYSICAL INVENTORY QUANTITY. The Date of the Inventory Receipt will be one day prior to the Physical Inventory Date.
7. Print the RECONCILIATION REPORT. This report will include all items that have a new value (qty on hand * cost) that is different from the original value (before the recalculate procedure). You will enter the amount of the smallest difference to be included on the report. Enter 100.00 to include inventory differences that are >= $100.00.