Counting and Reconciling Inventory Quantities
Overview
Use this report to compare physical inventory counts with the quantities tracked in your Sage 300 Inventory Control system.
The report identifies discrepancies between item quantities and costs, and shows what will be posted by the I/C Post Inventory Reconciliation screen.
For an overview of the complete stocktaking process, see Counting and Reconciling Inventory Quantities.
When to Print
Print the report after generating inventory worksheets, counting inventory, and entering the counted totals on the I/C Inventory Counts screen or the I/C Physical Inventory Quantities screen.
You can also print the report after posting an inventory reconciliation to list transactions that had errors and were not posted.
Important! If you want to include the latest costing information in the report, run Day End Processing before printing the report.
Information Printed on This Report
The top of the report lists:
- The selections you made when printing the report.
- The location code and description.
- The date the system last updated the quantities on hand
- The worksheet comment, if any.
The items included on the table on the report depend on the selections made when the worksheet was generated. Inactive items are included only if you select Include Inactive Items when printing the report. If you select Show Only Items with Quantity Variance, items that do not have a variance are excluded.
The table shows the following information for each item:
- The item number, description, and picking sequence.
- The adjustment unit cost, which reflects any changes made in the Adjustment Unit Cost Per Costing Unit column on the I/C Physical Inventory Quantities screen.
- The quantity on hand, which is calculated by Inventory Control from the transactions posted for the item.
- The quantities counted and units of measure, which were entered on the I/C Inventory Counts screen, the I/C Physical Inventory Quantities screen, or the Quantities screen.
Note: If you selected All Units of Measure for the report, the quantity of each unit of measure is shown on a separate line when the item has more that one unit of measure. If you selected Stocking Unit Only for the report, the quantity of the item is shown on a single line using the stocking unit of measure.
- The quantity variance, if any, which is the difference between quantity on hand and the quantity counted.
- The cost variance, which Inventory Control calculates by multiplying the adjusted unit cost by the quantity variance.
- The status code for the item, which determines whether the item information can be posted. The last page of the reports shows the status for each status code.
- A Comment row (with a blank line) for each item, if you selected Comment when printing the report. You can use this row to write remarks for your own information.
The items in the table may have one of the following status codes:
- 1 - Ready to post. This item is ready to post and will be deleted from the report when you post the inventory reconciliation.
- 2 - On hold. This item is not ready to post. Information for on-hold items is not updated when you post an inventory reconciliation, and the item is not deleted from the report when you post the reconciliation.
- 3 - Item does not exist. This item was deleted from the Inventory Control system after you generated the inventory worksheet.
- 4 - Non-stock item. This item is designated as a non-stock item.
- 5 - Item not allowed at location. This item is not allowed to be used in transactions at that location.
- 6 - Insufficient quantity. This item cannot be posted because the quantity on hand would fall below zero when the reconciliation posted . (This status does not apply if your system uses the Allow Negative Inventory Levels option.)
- 7 - Item not active. The item's status was set to Inactive.