*Below is a document which gives the step by step process for processing a physical count inside of Sage. It’s for Sage version 2013 but it should be pretty much the same
Use the following procedures to process physical counts using worksheets.
Before You Begin
Verify all inventory transactions that were received, produced, sold, or issued have been entered and updated. If you have LIFO or FIFO items, all negative tiers must be cleared before performing the physical count.
To clear negative cost tiers
- Select Inventory Management Period End menu > Inventory Negative Tier Adjustment.
- Click Print. The register prints all LIFO/FIFO items that have a negative cost tier for which there is one or more corresponding positive cost tiers that can be used to adjust the quantity.
- After printing the Negative Tier Adjustment Register, click Yes to proceed with the update. If there is a difference in cost, print and update the Daily Transaction Register to post the entry to the general ledger.
To process a physical count using worksheets
- Print the Physical Count Worksheet and freeze inventory items.
- Select Inventory Management Physical Count menu > Physical Count Worksheet.
Use Physical Count Worksheet to freeze items to count and to print worksheets for the selected items. The worksheets include information such as the item code and description, bin location, inventory cycle, product line, product type, and quantity on hand, and they have space for writing the physical count quantities and initials of the person who performed the count.
You can print the Physical Count Worksheets in order by item code, bin location, or item description and enter a selection of item codes, bin locations, item descriptions, warehouses, inventory cycles, and product lines to print. You can also select the product types and procurement types to print.
The perpetual inventory must be frozen while the actual physical count is in process. When the actual physical count is completed, normal operations can still be performed while the physical count is entered. After the physical count is entered and updated, any shipping and receiving that occurred between the completion of the actual physical count and the Physical Count Variance Register update is considered as the perpetual inventory and is adjusted. Normal operations do not include the relieving or populating of actual inventory in the warehouse when Physical Count Entry is in process. This can cause a variance by inaccurately representing the actual quantity on hand.
Data entry is checked in the following tasks to prevent a variance from occurring after the count is frozen: Transaction Entry, Invoice Data Entry, RMA Receipts Entry, Receipt of Goods Entry, Production Entry, Disassembly Entry, and Work Order Transaction Entry.
You can have the quantity counted in Physical Count Entry be the same as the items' actual quantity on hand by selecting the Default Quantity Counted to Quantity on Hand check box when freezing items.
Warning When you freeze inventory, any existing records in Physical Count Entry will be removed.
- Select the report settings, print options, and enter the selection criteria for the items, product lines, and warehouses for which you are performing the physical count.
- In the Report Options field, select Print Worksheet and Freeze Items.
- Click Print. Count the actual items in stock and record the information on the worksheets. Scanco Automates the process of recording this information manually on the worksheets.
- Use Physical Count Entry to enter the actual count from the Physical Count Worksheet. Scanco Automates this step.
- Select Inventory Management Physical Count menu > Physical Count Entry.
- Enter the warehouse to enter counts for.
- On the Header tab, select the appropriate options for sorting the physical count, product and procurement types to print, and enter the selection criteria.
- On the Lines tab, enter the actual quantities from the physical count.
- Click Print.
- In the Physical Count Variance Register window, select the appropriate options for sorting the register, product and procurement types to print, and enter the selection criteria.
- Click Proceed. Review the results and conduct a recount if necessary. Go to step 5 if no changes need to be made.
- When prompted to update the Physical Count Variance Register, click Yes.
The quantities in inventory match the quantities on the Physical Count Worksheet.