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Performing Physical Inventory

This chapter contains instructions related to performing physical inventory in MYOB Acumatica.

Entering Count Data

  1. Open the Physical Inventory Count (IN305010) form.
  2. In the Reference Nbr. box of the Summary area, select the count you are participating in.
  3. For each item in your count sheet, enter selection criteria to view the corresponding table row in any of the following boxes:
    1. Specify the start line number (Start Line Nbr. box) and the end line number (End Line Nbr.box) for the count sheet or some fragment of it.
    2. In the Location box, select the location of the item.
    3. In the Inventory ID box, select the inventory ID.
    4. Specify the subitem if your system uses subitems.
    5. In the Lot/Serial Nbr. box, specify the lot number or serial number.
  4. In the table, in the Physical Quantity column of the appropriate row, enter the quantity that resulted from the count.
  5. On the form toolbar, click Save.

 

Entering Count Data for a New Item

  1. Open the Physical Inventory Count (IN305010) form.
  2. Click Add on the table toolbar.
  3. In the Add Line dialog box, which opens, do the following:
    1. In the Inventory ID box, select the inventory ID for the new item.
    2. In the Location box, specify the location of the new item.
    3. In the Qty. box, enter the item quantity measured in the unit of measure (UOM) shown in the UOM box.
  4. If the item requires a lot or serial number, in the Lot/Serial Nbr. box, enter this number.
  5. If the item has a lot number, in the Expiration Date box, specify the expiration date of the item.
  6. Click Add and Close, which adds the item and closes the dialog box.
  7. On the form toolbar, click Save.

 

Importing Count Data from an Excel Spreadsheet

  1. Open the Physical Inventory Review (IN305000) form.
  2. In the Reference Nbr. box, select the identifier of the count you are participating in.
  3. On the Physical Inventory Details tab, click Load Records from File on the table toolbar.
  4. Use the File Upload dialog box to locate the file with the count results. Click Upload.
  5. In the Common Settings dialog box, which appears, leave the default values and click OK.
  6. In the Columns dialog box, which appears, perform mapping for each column from the file to a column available on the form as follows:
    1. In the Column Name column, select a column that is available in the uploaded file.
    2. In the Property Name column, select a column from the available columns on the form to update.
  7. Click OK to close the dialog box.
  8. When you notice a green icon on the form toolbar indicating that the import has been performed successfully, review the values that have appeared in the Physical Quantity and Variance Quantity columns.
    If the source file includes multiple lines with a particular item, the Physical Quantity column shows the resulting quantity for all the source lines with the same inventory ID, subitem, warehouse location, and lot/serial number.
  9. If you notice a red icon on the form toolbar, this means that the import process has failed. Review and correct the errors as follows:
    1. On the title bar in the top right corner of the form, click Tools, then click Trace.
    2. Review the error log for errors and correct the errors in the original file (Excel spreadsheet).
    3. Save the original file and repeat the import.
  10. On the form toolbar, clickSave.

 

Completing the Physical Inventory Count

  1. Open the Physical Inventory Review (IN305000) form.
  2. In the Reference Nbr. box, select the physical inventory count that needs completion.
  3. In the Warehouse box, select the warehouse where the count has taken place.
  4. On the Physical Inventory Details tab, review the list of items that the team counted and their variance quantities.
  5. Process the items with Not Entered in the Status column in either of the following ways:
    1. Filter the list of items by the Not Entered value in the Status column, and, on the More menu (under Processing), click Set Not Entered to Zero. The system inserts 0 into the Physical Quantity column for each of the listed items.
    2. Filter the list of items by the Not Entered value in the Status column, and on the More menu (under Processing), click Set Not Entered to Skipped. The system inserts Skipped into the Status column for each of the listed items.
  6. Make sure that all counted items have the Entered or Skipped status, and that items with the Entered status have quantities specified in the Physical Quantity column.
  7. On the form toolbar, click Save.
  8. On the More menu (under Processing), click Update Actual Cost. The system updates the cost of the inventory items using quantities resulting from the physical count.
  9. On the More menu (under Processing), click Complete PI.

The system generates the necessary transactions that adjust the available quantities of the stock items involved in the count.