Physical Inventory Processing consists of a series of steps where the actual count of on-hand products is captured and compared against the counts on the I/C master files. This process can be done as part of an on-going procedure, which entails counting and verifying counts not connected to a specific accounting event. This process can also be part of a year-end or other accounting cutoffs.
- Partial or entire inventory options available.
- Options exist to restrict the physical inventory to specific locations (warehouses) and specific physical locations (aisles, rows, bins, etc.)
- Locations can be printed as report in location/physical location sequence or as inventory tags
- Counts are frozen in separate files (PIT.FIL) to allow normal processing to continue
- PIT.FIL file can be loaded into the system for comparison to the master file count
- Variance reports are available to run in update mode to post the adjustment transactions to the master files.