How To - Perform a physical inventory count
This procedure will help you to perform a physical inventory count and inventory adjustment using ESC. It's a good idea to perform a physical inventory count at least once a year to keep your quantities and costs accurate.
- Print Physical Worksheets to enter quantities when doing your physical inventory count. This can be reached by going to Inventory → Reports → Physical Worksheet. This step is not necessary if you are using barcodes.
- Go to the Inventory Adjustment screen by clicking Inventory → Adjust Inventory. Enter the date and credit account (usually a inventory adjustment or cost of goods sold account).
- Go to Activities → Fill List of Warehouse Parts.
- Select the warehouse you are counting and check Zero Quantities.
- Enter in the amount of parts you have counted. Note: you will have to manually enter any serialized parts you count. If you are using a barcode scanner you can click Activities → Scan Inventory Items and just shoot the barcodes to count them. Each time you scan a part its quantity will increase by one.
- After saving that, run an inventory adjustment report to see how much your inventory amount changed. This can be reached by going to Inventory → Reports → Adjustment Report.
- Run a Inventory Warehouse Summary report (Inventory → Reports → Inventory Warehouse Summary) for all warehouses. Compare it against the value of your inventory in your accounting software. Make an adjustment to the value of your inventory account in your accounting software to make it match ESC.