Physical Inventory Overview

Taking a physical inventory is typically a major event for most companies. It requires precise planning and execution to obtain and record an accurate count of your inventory parts. The physical inventory process in SedonaOffice locks a warehouse on a particular date in time. During the time the warehouse is locked, no transactions may be performed to move inventory in or out of the warehouse. It is crucial that count and variance reconciliation is completed in a reasonably short period of time to have the least impact on your normal business operations.

Important Note:

After an inventory is reconciled and released, any new inventory transactions processed must be dated after the date the inventory was posted and released. If a User performs a transaction and enters a date on or prior to the release date of the physical inventory, your current on-hand quantities and values will be distorted.

Below is a checklist of things to consider when preparing for a physical inventory.

·Plan carefully in advance; establish cut-off dates/times for all pre-inventory transactions to be completed.

·Make certain all staff members understand the impact of an accurate count.

·Make certain truck stock is ready to be counted.

·Process all open Service Tickets that used parts.

·Process all job part issues and returns to stock.

·For parts out for repair, make certain you have a list of those items to include in your counts.

·Process all Vendor part returns.

·Perform miscellaneous issue transactions for parts being scrapped.

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