Posting Physical Inventory Quantities
The physical inventory posting process posts the quantities of all physical inventory counts to the Quantity On-Hand field for each inventory item, as well as creating entries to the journal for any adjustments.
The records do not post until the reserved quantity is reduced either by the Reserve/Unreserve Inventory Utility or manually, using the Reservations For Item form or the Reservations For Order form.
Prerequisites:
Before you perform this activity, we recommend that you run the following reports/activities to generate an accounting audit trail for visibility for count discrepancies:
- The Inventory Pre-Adjustment Report provides a listing of entered quantities and highlights any discrepancy between the quantity on-hand and the physical inventory count.
- The Physical Inventory Approval changes the status of any physical inventory record, except those that have a status of Uncounted, to a status of Approved.
Records must be approved before they can be posted. Once approved, they can no longer be updated or voided.
Accept the default selection criteria on each report.
- Open the Physical Inventory Count Posting utility.
- Verify that you have the correct warehouse selected.
- To update the quantity on hand and create journal entries for adjustments, click .
- Upon completion, review any records that remain either on the Input/Update Tag or on the Input/Update Sheet form. These indicate records that did not post due to errors.
- To purge any records that were not posted, open the Physical Inventory Records Purge form.
If only zero balance or invalid physical inventory records remain, you can use this alternative to purge inventory records.