What is a Physical Inventory?
A physical inventory is a count of what is currently in stock in the warehouse, comparing that count to what the computer thinks is in stock, and making any necessary adjustments to get the computer counts to match the warehouse counts. Food Connex will post the costs of those physical count adjustments to General Ledger and provide an inventory variance report for you to see where your counts were off, and by how much. Some warehouses do a full warehouse physical inventory only once a year. Others do a full warehouse count on a monthly basis. Frequently, you will find warehouses that do >cycle counting=, which means that, usually on a more frequent basis, selected parts of the warehouse or specific products are counted. When do I use the Physical Inventory function? The physical Inventory option can be used to do full warehouse counts or cycle counts. If you plan on doing cycle counts, keep in mind that cycle counts can most easily be done by item category, pick location or by using t
