A new function has been added to the inventory control module, a physical inventory process. The physical inventory function allows you to compare inventory in your system to the physical inventory in the warehouse. The physical inventory function freezes inventory counts in the system on a given date and then employees in the warehouse physically count the inventory in the warehouse so that management can compare the two numbers. While the inventory is frozen transactions can still occur normally.
Standard UA Corporate Accounting has no such functionality.
The first step in the freezing of physical inventory is to set up cycle types in the inventory control function. An inventory item can be assigned to a certain count cycle that is defined by the user. In figure 1 you can see that cycle types have been setup and each inventory item can be assigned to one of them. The count cycle determines what items are frozen at the same time.
Figure
1: Inventory Control Module – Inventory Items
Once inventory items are assigned to count cycles then they can be frozen. To do this the user will use the Print Count Cycle Report where they can choose the count cycle to freeze, see figure 2.
Figure
2: Inventory Control – Physical Inventory – Print Count Cycle Report
After the count cycle has been chosen then the report will appear. The report will show the count cycle type, inventory part #, inventory part description, location 1, location 2, location 3, and the count (see figure 3). Note: The count column will be empty until it is manually inputted by workers in the warehouse.
Figure
3: Inventory Control – Physical Inventory – Print Count Cycle Report
After the report has been viewed and the user goes to exit is when the option to freeze the inventory appears. As shown in figure 4, the user can select to freeze the inventory as the present date and time. The physical inventory entered by those in the warehouse is compared to the inventory in the system as of the date and time of the freezing.
Figure
4: Print Count Cycle Report – Exit
Once the count cycle has been frozen then the employees in the warehouse need to enter the physical inventory that is contained within the warehouse. To accomplish this the user will use the add/approve count function within the physical inventory function, see figure 5. Here the user will enter the count cycle that they have frozen.
Figure
5: Inventory Control – Physical Inventory – Add/Approve Count
After the count cycle has been chosen the employees in the warehouse will enter the number of physical inventory items they count, see figure 6.
Figure 6: Add/Approve
Count – Add
After the employees count the inventory then they will hit the "accept" button and the changes will be saved. The user will then be able to view the comparison between the frozen count and the physical count. To do this the user will use the Print Exception Report function. The user will choose one of the active count cycles to view, see figure 7.
Figure
7: Inventory Control – Physical Inventory – Print Exception Report
When the active count cycle is chosen then the exception report will come up, see figure 8. The exception report will show the part #, description, frozen quantity, count quantity, difference, and items gained or lost since freeze.
Figure
8: Physical Inventory – Exception Report
After the exception report has been run then the user must either accept the count quantity or change it so that the inventory in the system can match that in the warehouse. The user will do this through the add/approve count function. They will select the approve button, choose the count cycle, and then accept the count number or change it, see figure 9.
Figure
9: Physical Inventory – Add/Approve Count – Approve
Once the count number has been approved then that is the number that will be entered into the inventory and the freeze will be released.
| Cost: | ||
| Standard Edition | $2,380* License: Single site, multi-user |
|
| Enterprise Edition | $3,980* $95 each additional user $380 additional five-user license pack $760 additional ten-user license pack License: Single site, single server, five-user |
|
* One Technical Support Contract is required with every software purchase Cost: $95 for 45 minute block |
||
[Home] [Buy Now!] [Product Pricing] [Download Demo]
