Physical Inventory Review

Form ID: (IN305000)

Note: This form is available only if the Inventory feature is enabled on the Enable/Disable Features (CS100000) form.

You use this form to manage the data entry process for a physical inventory wigth the Data Entering status and to view the results of a completed physical inventory. You can select a physical inventory document, start the count data entry process, export the list of items to be counted to an XLSX file, import the results of the counting, review and edit the data, complete the physical inventory process, or cancel the physical inventory document.

Note: During the initialization of the Inventory module, you can use this form to import the initial quantities of the stock items.

You generate physical inventory documents by using the Prepare Physical Count (IN504000) form. To manually enter the count data, you can use the Physical Inventory Count (IN305010) form. For more details about conducting a physical inventory, see Physical Inventory Counts.

Form Toolbar

The form toolbar includes standard buttons and form-specific buttons and commands. For the list of standard buttons, see Form Toolbar and More Menu. The form-specific commands can be shown as buttons on the form toolbar, as commands on the More menu, or in both places. These commands are listed in the following table in alphabetical order.


Command	Description
Cancel PI	Cancels the physical inventory review process and changes the status of the current physical inventory document to Canceled. Canceled documents do not generate inventory adjustment transactions.
Complete PI	Completes the physical inventory data entry process. As a result, the status of the physical inventory document changes to Completed.
Finish Counting	Changes the status of the physical inventory document to Data Entering, which makes the document available for data entry. If the Freeze Inventory When PI Count Is in Data Entry State check box was not selected for this warehouse, this action cancels freezing for the warehouse; if the check box is selected, the warehouse remains in the freezing state until either Cancel PI or Complete PI command is applied.
Set Not Entered to Skipped	For each line with the Not Entered status, changes the status to Skipped on the Physical Inventory Details tab. The lines with the Skipped status are not processed by the system.
Set Not Entered to Zero	Sets zero as the physical quantity for each line with the Not Entered status and changes the status of the line to Entered on the Physical Inventory Details tab.
Update Actual Cost	Updates the cost of the inventory items on the Physical Inventory Details tab using quantities resulting from the physical count. The average cost is used for all items, no matter which cost valuation method is assigned.

Summary Area

In this area, you select a physical inventory document to review its data.


Element	Description
Reference Nbr.	The reference number of the physical inventory document to be reviewed.
Warehouse	The warehouse where the physical inventory count is performed. This box appears only if the Multiple Warehouses feature is enabled on the Enable/Disable Features (CS100000) form.
Status	The current status of this physical inventory document. The following options are available: Counting in Progress: Indicates that the physical inventory counting process is in progress and the physical inventory document can be edited. You can modify and save a document with this status. After all the quantities for the listed items have been counted, you can complete the counting process by clicking Finish Counting. Data Entering: Indicates that the participating employees are entering the count results into the system and that the physical inventory document can be edited. You can modify and save a document with this status. After all the results have been entered, you can complete the data entry process by clicking Complete PI. In Review: Indicates that the adjustment for this physical inventory document has been created and is being reviewed by accountants. A user cannot delete a document that has this status. Completed: Means that all the quantities have been counted and all the data has been entered. Documents with the Completed status cannot be modified. Canceled: Indicates that the document was canceled and the data in the document was not used for generating adjustments. Documents with the Canceled status cannot be edited.
Freeze Date	The date when the physical inventory document was created. On this date, all inventory items selected for the physical inventory were "frozen," meaning that no operations for these items are allowed until the document is canceled or the counting process is completed.
Description	The description of the physical inventory.
Total Physical Qty.	The total actual quantity of all inventory items listed in the document. The system automatically calculates this value as the sum of all physical quantities of all items listed.
Total Variance Qty.	The total variance quantity for the document. The system automatically calculates this value as the sum of differences between the book quantity and the physical quantity for each item in the list.
Total Variance Cost	The total variance cost for all inventory items listed in the document. The system automatically calculates this cost as the sum of differences between the item's book quantity and the physical quantity for all items in the document.

Physical Inventory Details Tab

This tab displays the list of inventory items for the selected document. Generally, the information about item physical quantities should be entered manually on the Physical Inventory Count form, but it can be entered on this form too.

Depending on whether the data has been entered, the statuses of the lines in the document may change. Documents that have lines with the Not Entered status cannot be completed. To complete the physical inventory count, for lines with Not Entered status (for which the data is not available), perform one of these actions:

Set zeros as physical quantities by clicking Set Not Entered to Zero.
Set the statuses of the lines to Skipped by clicking Set Not Entered to Skipped.

Table 1. Table Toolbar
The table toolbar includes standard buttons and buttons that are specific to this table. For the list of standard buttons, see Table Toolbar. The table-specific buttons are listed below.
Button	Description
Add	Opens the Add Line dialog box, which you use to enter a new line for the item. This dialog box can be used to efficiently enter information about items using a bar code scanner. For more information, see Barcode Support.
Export to Excel	Exports the data available in the table to an Excel file. For more information, see Integration with Excel.
Load Records from File	Opens the File Upload dialog box, so you can locate and upload a local file for import. You can import data from Excel spreadsheets (.xlsx) and .csv files. For details, see To Import Data from a Local File to a Table.

Table 2. Table Columns
Column	Description
Status	The status of the line of the physical inventory document, which indicates whether the actual physical quantity has been specified for the line. Lines with no data have the Not Entered status. When you enter the count data in the line, its status changes to Entered. You can also change the status of the lines from Not Entered to Skipped. The system does not process the lines with the Skipped status.
Line Nbr.	The number of the line in the physical inventory document.
Tag Nbr.	The tag number for the line item, which is the inventory item with the properties specified in the line, such as location, subitem, and lot or serial number.
Inventory ID	The inventory ID of the item.
Description	The description provided for the item.
Subitem	The subitem code of the item. This column is available only if the Inventory Subitems feature is enabled on the Enable/Disable Features form. Important: The Inventory Subitems check box has been removed from the Enable/Disable Features form because the functionality associated with the Inventory Subitems feature will be phased out. If you have this feature enabled in your system, the associated functionality remains available. To disable the feature, contact your MYOB support provider.
Location	The warehouse location of the item. This column appears only if the Multiple Warehouse Locations feature is enabled on the Enable/Disable Features form.
Lot/Serial Number	The lot or serial number of the item. This column appears only if the Lot and Serial Tracking feature is enabled on the Enable/Disable Features form.
Expiration Date	The expiration date of the item with this specific lot or serial number. This column appears only if the Lot and Serial Tracking feature is enabled on the Enable/Disable Features form.
Book Quantity	The book quantity of the line item, which is calculated as the on-hand quantity minus the quantity on confirmed shipments.
Base Unit	The unit of measure that is used as a base unit for the inventory item.
Physical Quantity	The physical quantity of the item as entered manually or imported from a source file. Note: If the source file includes multiple lines with the 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.
Variance Quantity	The difference between the book quantity and the physical quantity for the line item. This value is calculated automatically by the system.
Unit Cost	The last cost of the item's base unit as approximation of its unit cost during the count. (The last cost is shown here for all items, no matter which cost valuation method is assigned to the item.) When the physical inventory is completed, the actual unit cost will be recalculated in accordance with the valuation method, count results, and other settings.
Ext. Variance Cost	The difference between the extended cost calculated based on the book quantity and the extended cost calculated based on the physical quantity for the item.
Manual Cost	A read-only check box that indicates (if selected) that the value in the Unit Cost box has been edited. The system automatically selects this check box when you edit the unit cost of an item in the Unit Cost box.
Reason Code	The reason code for the item. To define the reason codes, use the Reason Codes (CS211000) form.

Table 3. Add Line Dialog BoxBy using this dialog box, you can add a line specifying an inventory item, and you can effectively add items by scanning their bar codes. To accomplish this, make sure the Add Receipt Line Automatically option is selected. Once the item bar code is scanned, the system finds the item record and fills in the dialog box elements using the item default values. Then you can select the Add One Unit per Bar code option to increase the item quantity by one unit each time you scan the bar code or enter the item quantity manually.
Element	Description
Bar Code	An optional element that contains the bar code of the item.
Inventory ID	The inventory ID of the item.
Subitem	The subitem code of the item. This box is available only if the Inventory Subitems feature is enabled on the Enable/Disable Features form. Important: The Inventory Subitems check box has been removed from the Enable/Disable Features form because the functionality associated with the Inventory Subitems feature will be phased out. If you have this feature enabled in your system, the associated functionality remains available. To disable the feature, contact your MYOB support provider.
UOM	The read-only element that displays the unit of measure for the items.
Location	The warehouse location of the item. This box appears only if the Multiple Warehouse Locations feature is enabled on the Enable/Disable Features form.
Qty.	The physical quantity of the item as entered manually.
Lot/Serial Number	The lot or serial number of the item. This column appears only if the Lot and Serial Tracking feature is enabled on the Enable/Disable Features form.
Expiration Date	The expiration date of the item with this specific lot or serial number. This column appears only if the Lot and Serial Tracking feature is enabled on the Enable/Disable Features form.
Add One Unit Per Bar Code	A check box that you select to increase the item quantity by one unit each time the item bar code is scanned or entered manually.
Auto Add Line	A check box that you select to automatically add a new line to the review for each bar code scanned for the first time. If the bar code has been scanned before, the item quantity will be increased by one unit.
Add	Adds the entered data as a line to the review if the Add Line Automatically option was not selected.
Add & Close	Adds the entered data as a line to the review and closes the dialog box.
Close	Closes the dialog box without adding the data to the review.

Adjustment Info Tab

This tab displays information about adjustments generated for the document. An adjustment is generated for all line items for which there are transactions recorded in the database.


Element	Description
Adjustment Ref. Nbr.	The reference number of the adjustment document generated for the physical inventory document. Click the number to view the adjustment.