How to Process a Physical Count in Sage 100
Sage 100 How to Process a Physical Count
Use caution when working with the below product functionality. Always create a backup of your data before proceeding with advanced solutions.
- 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
- Open Inventory Management , Period End, Inventory Negative Tier Adjustment, and correct 2. the negative tiers.
- 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.
- 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.
- Count the actual quantities in stock, and record the information on the worksheets.
- Enter the actual count from the worksheet using Physical Count Entry.
– 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.
– 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.
- Print the Physical Count Variance Register. Review the count and date, and then perform the update.
- Print the Daily Transaction Register and update the physical count data to the General Ledger.
If necessary, seek the assistance of Acute Data Systems to help provide assistance with this process.