Review Inventory Counts

The Inventory Review screen is used to compare the counts entered for an inventory event (Physical Qty) to the current system counts (Book Qty). When a user confirms the entered quantities, "variance" adjustment transactions are created automatically to account for any discrepancies. These adjustment transactions will update the "On Hand" quantity and value at the location.

Note: The link to this screen is available in posted periods, to allow users to view historical counts and variances.

1. From the Inventory menu, select Create/Review Inventories.
2. Select a Post Period from the drop-down list; the screen will refresh to display the inventory events for that period.
3. Click the Review link corresponding to the desired inventory event.

• If there are any pending transactions from the Daily Tasks list that may have an effect on inventory, an Overdue Inventory Transactions window will open to display these tasks. The list will include tasks with a Due Date ≤ the Inventory date. To see the list of tasks, click HERE!

• Reconcile: Vendor Order (also those Awaiting Invoice), Commissary Order (Physical/Final), Customer Order (Final), Location Transfer
• Picklist/Invoice: Commissary Order, Customer Order
• Invoiced: Commissary Orders
• In Transit: Location Transfers
• Incomplete: Production, Daily Prep
• Missing: Menu Mix Sales, Production Plan, Buffet Consumption

4. By default, the Analysis tab is displayed. This tab shows columns for Product #, Product Name, Inv. Unit, and Unit Price. It also shows columns under the following super-headers:

• Quantity: Begin, Received, Sold, Adjusted, Book, In Transit, Physical, and Variance.
• Value: Begin, Physical, and Variance (with totals at the top).
• Variance: Qty %, Value %.
• The columns displayed on this screen can be configured. For details on configuring columns, click HERE!

• To show or hide columns, hover the mouse over a column header, click on the down-arrow that appears, and select Columns from the pop-up menu, then select or deselect the desired column(s). To see the list of available columns, click HERE!
• If necessary, click and drag the column headers to rearrange the order of the columns.

• Product #, Product Name
• UPC (hidden by default)
• Storage Location (hidden by default)
• Inv. Unit, Unit Price
• Cumulative Variance Quantity/Value (hidden by default)
• Quantity/Value: Begin, Received, Sold, Adjusted, Book, In Transit, Physical, Variance
• Quantity/Value (hidden by default): Total, Issued, POS Cons., Inv. Adj., Variance Adj., Transfer, Prod. Cons., Buff Cons., Iss. Adj.
• Variance: Qty %, Value %

5. The following features are available to filter, group, and/or sort the product list:  

• Search field: Enter the Name or Number of the product you want to locate.
• Summarize by Product – By default, this box is checked; the screen will display 1 row per product, summing the quantities for all product/storage or product/storage/lot combinations. To enable product groupings, clear this check box.
• Group By - This drop-down allows users to group the list by Storage Location or by Product.
• Filter – If necessary, click the Funnel (Filters) icon to access the filter options. Click HERE for details.
• Sorting – Click any column header to sort by the data in that column. Sorts in ascending order first; click again to sort in descending order.

6. If necessary, click the Quantity tab or the Value tab to see those columns exclusively.
7. From any tab, you can click a one of the following hyperlinks for more details:

• Product Name – Click this link to see Actual/Theoretical Consumption Details for that product. To view this for multiple periods, select a prior period in the Actual Cost Detail from drop-down first. You can also choose to View By 'Quantity' (default) or 'Value'. If the screen is grouped by Product, the Storage Location will be the link.  
• Unit Price – Click this link to see cost change details for that product.

8. If counts need to be added or edited, click Edit to return to the Data Entry screen.
9. To download and print the data displayed for the tab currently selected, click the Printer (Export) icon
10. When ready, click Save and Close to confirm the entered quantities AND create "variance" adjustment transactions for those products that have count discrepancies.
11. If the Total Variance Value (positive and/or negative) for products not updated By Exception and/or not configured to "Set Theoretical Equal to Actual" is outside the threshold established by Inventory Preferences defined in Enterprise Manager, a Physical Inventory Alert will appear. Users will have the following options:

• Users authorized to override the alert can click Continue to proceed or Cancel to go back and make changes.
• Users not authorized to override the alert must click OK to go back and make changes.

 

Note: If a user wishes to create manual Inventory Adjustment transactions to account for variances before confirming the inventory counts, the user may exit the Inventory screen, create the Inventory Adjustment(s), and then return to the Inventory "Review" screen to capture any changes made.

 

 

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