Run the Report Frozen to Counted Variances (Location Detail Report) to display the variance between the frozen quantity and the counted quantity. The unit cost on this report is an average cost, based on the average cost at the time quantities were frozen. Note that if your costing method is set to exact in the Costing Control Settings, the costs in this report may differ from the costs that post to General Ledger at the conclusion of the Physical Inventory Update process.
If variances are found, you can re-run reports from previous steps to isolate differences.
Corrections should be made in either the Enter a Single Physical Count Tag (Single Tag Per Bin) or Enter Multiple Physical Count Tags (Multiple Bin Per Tag) screens, as well as adjusting the count sheets as needed.
Optionally, you can use the Import / Export Physical Inventory Count process to import counts from a spreadsheet into STORIS. This option is available when performing a physical inventory, but is not used if zeroing out inventory counts.
Run the Update Physical Inventory Results (Physical Inventory Update) process.
Run the Report Physical Inventory Update Audit Trail (Physical Update Audit Report). This report sorts by special orders then stock pieces. (Remember to have as-is with reason codes.)
After the update, research the products in question via View Detailed Activity for a Product (Kardex Inquiry).
Run the Report As-Is Exceptions (As-Is Exceptions) option to remove and write off those products that were committed but not counted.
Run the Report Commitment Exceptions (Commitment Exceptions) option. This routine lists all regular stock products that could not be reserved to sales orders or transfers but were reserved prior to the update due to count shortages.
If a discrepancy in inventory dollars exists at the end of the physical
inventory update, check the credit/debit balances of the inventory
adjustments GL account for the physical inventory warehouse. The
problem may be caused by transfers not being completed properly.
Important!
We strongly recommend you complete the physical inventory update (Update
Physical Inventory Results) PRIOR to running End of Month (Generate
Monthly Reports). If you do not complete the update first, the system
does not allow you to back-date your EOM processing to the date you ran
the Freeze
Inventory and you are prevented from adding more products to the physical
inventory count.