How does the Physical Inventory Module work?
The following is provided as a guideline to using the Physical Inventory (PI) module. The Physical Inventory module is a powerful module but it is necessary to understand what it does and does not do. The PI module is designed to reconcile on-hand quantity of inventory counted with the on-hand quantity per the computer and make adjusting transactions. It is not designed to be used to edit unit costs of on-hand inventory so you need to get inventory unit costs as accurate as possible before using the PI module. The PI module is looking at on-hand inventory, it does not look at Work In Process. It will prompt for Lot and Serial numbers for parts under Lot or Serial number control. The references to programs in this document refer to the menu choice. For example, PI-A refers to menu choice A on the PI menu button, Capture Frozen Inventory. In a nutshell, the inventory is processed as follows: PI-A takes a snapshot of the on-hand quantities. Items are counted and counts are entered using P
