Manage Physical Inventory

Follow these steps to manage physical inventory in Acumatica

To Create Physical Inventory Type for Specific Inventory Items

  1. Navigate to Inventory > Physical Inventory > Physical Inventory Types
  2. Add a new record
  3. Give a unique identifier for the new physical inventory type in the “Type ID” box
  4. Type a brief description of what this type will be used for in the “Description” field
  5. Choose the Generation Method of “By Inventory”
  6. In the Inventory Item Selection tab, choose the selection method “List of Items”
  7. Choose “Add” to add a range of items, or choose the + sign to add items one by one.
  8. In the Warehouse/Location Selection tab define the warehouse where the physical inventory will take place.  If no warehouse and locations are specified, the type can be used for any warehouse and locations.
  9. In the Assignment Order tab, select the entities for the assignment order to be used on the count sheets.  Optional: Specify the number of blank lines to be added to the count sheets in the “Blank Lines to Append” box.
  10. Below the Generation Method, mark the box for “Include Items with Zero Booked Quantity in PI” check box.  This will include all items on the list regardless of quantity on hand in the system.
  11. Below the Generation Method, be sure the “Unfreeze Stock When Counting Is Finished” is unmarked.  Marking this can cause discrepancies.
  12. Below the Generation Method, mark the box for “Hide Book Qty on PI Count” checkbox to hide the quantity so those counting will not rely on what the sheet says, rather what they actually see on the shelf.

Preparing a Physical Inventory Count

  1. Navigate to Inventory > Physical Inventory > Prepare Physical Count
  2. Select the appropriate physical inventory type for counting in the Type ID box
  3. Select the warehouse in which the count should be performed (if not already filled in by default)
  4. Click “Generate PI” from the form toolbar
  5. Review the list of items to be counted, edit if needed (on the Physical Inventory Review form, which opens automatically)

Physical count sheets can be exported to excel, printed and physical count tags can be printed as well.

Enter the Physical Count Data (can be done via the mobile app as well)

  1. Navigate to Inventory > Physical Inventory > Physical Inventory Count
  2. Select the reference number of the count you are participating in
  3. Enter the criteria of the items you are counting (location, ID, etc)
  4. Enter the quantity of the count for that item in the Physical Quantity column of the appropriate row
  5. Repeat steps 3 & 4 for all items in your count sheet.
  6. Save

Physical count data can also be imported from an excel sheet.  Let me know if you would like instructions on this.

Complete the Physical Inventory Count

  1. Navigate to Inventory > Physical Inventory > Physical Inventory Review
  2. Select the reference number
  3. Review the list of items that were counted and their variances on the Physical Inventory Details tab
  4. Make sure that all counted items have the Entered or Skipped status
  5. Choose Actions > Update Actual Cost for the system to update the cost of the inventory items using quantities resulting from the physical count
  6. Click Complete PI.  The system will generate the necessary transactions to adjust the available quantities to actuals.

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