General Information about Physical Inventory

What Does This Procedure Do?

This procedure is used to inventory parts with a new stock balance, on a per part basis. When you save the physical inventory for the part in the window, the balance is updated. The inventory date, time and who did the inventory is also updated. Furthermore, the system will calculate and show the difference between the inventoried balance and previous balance for each part, and also show information from the last inventory. This information can also be seen in the Physical Inventory Difference procedure.

If a part has been given the status Under inventory with saved balance in the Physical Inventory List, then the registered value will be adjusted with the difference between the saved and the current balance. This in order to consider any transactions that may have taken place between the physical inventory and the registration. However, no transactions may take place between the time the balance is saved and the physical inventory takes place.

If the part has a stock count status, it will be reset once the stock count is saved.

Please note! The inventory is saved directly for each row when you tab to the next row or use Enter.

Please note! If a registration of inventoried balance for a part has taken place previously during the same date (for example if there are several stock locations that are inventoried at different times), a question will appear asking if the balance should be added to the previous inventory. It is important that you know whether to answer Yes or No to this question (Yes is selected by default). When choosing No, the registration will be managed as a new physical inventory and the inventory difference is then calculated against the current balance for the part at the time of registration.

You can change a part's stock location in this procedure, by overwriting the current location and replacing it with the new stock location. You can also exchange the stock location in the separate procedures Change Stock Location and Change Stock Location in List.

Prerequisites for FIFO

The following applies if the setting Price alternative for FIFO at inventory has been set to FIFO price, under Price management under the System tab in the Settings procedure:

Please note! During physical inventory, the final price can be NULL, but only if balance is missing and if the option FIFO price has been selected for the setting Price alternative for FIFO at inventory.

Multiple Stock Locations

A part can have several stock locations. If you use multiple locations, or if you have previously used multiple locations, you will here see a separate window if you load a part with multiple stock locations. If so, the inventoried quantity is registered per stock location. During inventory, you can also add, delete or change a part's stock locations.

When using multiple locations, you can also open this window using the Location field for parts that do not have any registered locations.

You can also register multiple stock locations in the Update Part procedure, but also in procedures that allow you to report stock arrivals, such as in the Arrival Reporting procedure in the Purchase module and the Operation Reporting procedure in the Manufacturing module.

Window Functions

Read more about the Window functions under Window Functions in the MONITOR Basics guide.