Summary

If you count your inventory using hand-held devices or input the counts into an electronic spreadsheet, you can import your count information from a comma-separated value file. In order to process physical inventory you will need to have a Shrinkage and Overage Category type set up.

Step by Step

1     Create a new Physical Inventory batch.

• Open the New Physical Inventory Batch window (IC> Physical Inventory> Select New from the drop-down menu).
  • If there are open batches in the Physical Inventory process, you can create a new batch without affecting the open batches.
  • Enter a Batch Month and Batch Year. These fields default to the current calendar period and are for reference only. The fiscal period of the transactions in the batch is determined by the Journal Entry Date entered during the Generate step.
  • Click the Generate icon to populate the Batch Number field with the next available batch number. Batch numbers are limited to five digits and must be unique within the batch month of the batch year.
    • You can also manually create a new batch by entering a Batch Number and clicking the Save icon.
  • You can delete a Physical Inventory batch by highlighting a batch number and clicking the Delete icon or pressing DELETE.

2     Import the Auto Counts.

• Open the Import Physical Inventory window (IC> Physical Inventory> Import Physical Inventory).
• Enter a Transaction Date and Transaction Time.
  • The specified date and time are used to determine the on hand counts when counts are entered and will determine inventory item adjustment amounts. The date and time fields are also used as the transaction date and time for any physical inventory adjustments that are generated from the inventory counts.
• Enter the import file path in the File Name field or click the field label to browse to the import file.
• Click the Display Format icon to open the File Layout window and display the expected format of the imported .csv file.
• Click the Confirm icon to import the inventory auto counts into the batch. This will overwrite any inventory counts already in the batch.

3     Record the transactions and commit the physical inventory.