How to perform physical inventory for Sage 100

Description

How to enter Inventory Physical Count in Sage 100. How take Physical Inventory, record the Physical Count, and update any variances
How to do a Physical Count
How to do Inventory
Physical count

Disclaimer

Backup Warning
Use caution when working with the below product functionality. Always create a backup of your data before proceeding with advanced solutions.

Resolution

1. Open Inventory Management , Period End, Inventory Negative Tier Report. Generate this report to identify over distribution tiers for LIFO/FIFO items.
   Note: If necessary, enter adjusting entries to clear negative tiers. For details, see How to use the Inventory Negative Tier Report
2. Open Inventory Management , Period End, Inventory Negative Tier Adjustment, and correct the negative tiers.
3. Open Inventory Management, Utilities, Remove Zero Quantity Costing Tiers. Enter date to remove on or before. For details, see How to remove zero quantity cost tiers.
4. Set the Inventory Management accounting date to use for posting to the General Ledger. The physical count process should normally be performed as of a period-ending date.
5. Open Inventory Management, Physical Count, Physical Count Variance Register
   • Preview and confirm that you receive the message, “Data is not selected for report printing.”
   • This message confirms that there are not items frozen already
6. Open Inventory Management, Physical, Physical Count Worksheet
   • Select to Print Worksheet and Freeze Items. Make desired selection for the on-hand quantities, the range of items, product lines, and warehouses that will be counted. Print the worksheet to record the actual count data.
   • Note: Freezing items in this manner creates a separate record of on hand quantities as of the time of freezing. Normal sales and receipt transactions do not change this value.
7. Back up the Inventory Management data files.
   • This is also a great time to print an Inventory Valuation Report – even just to Paperless Office.
8. Count the actual quantities in stock, and record the information on the worksheets.
9. Enter the actual count from the worksheet using Physical Count Entry.
   • Note: If the physical count is the same as what is on the worksheet, you must still enter the count, otherwise the count is assumed to be zero.
   • Note: Quantities entered in Physical Count Entry must be entered as of the time of freeze. So if an invoice ships a quantity of an item out after the freeze, but before count has been entered, the count must be as if that quantity had not been shipped.
10. Back up the Inventory Management data files. (this is a separate backup – keep both backups)
11. Print the Physical Count Variance Register. Review the count and posting date. Make changes where needed, reprint the register and then perform the update.
12. Print the Daily Transaction Register and update the physical count data to the General Ledger.
13. Back up the Inventory Management data files. (this is a another backup – keep all three backups)
    • This is also a great time to print an Inventory Valuation Report – even just to Paperless Office.

Support

If necessary, seek the assistance of Acute Data Systems to help provide assistance with this process.