Overview
Use the I/C Inventory Reconciliation report to compare physical inventory counts with the totals 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 an Inventory Worksheet, counting inventory, and entering the counted totals on 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 Include All Units Of Measure version of the report includes:
- The ranges of account sets and item numbers selected when you generated the Inventory Worksheet.
- The adjusted unit cost, which is the Adjustment Unit Cost you entered for each item in the Physical Inventory Quantities screen after taking inventory.
- The quantities on hand, calculated by Inventory Control from the transactions posted for each item.
- The physical count (quantity counted) you entered in the Physical Inventory Quantities screen for each item's units of measure.
- The variance, if any, between quantity on hand as calculated by Inventory Control and the quantity counted you entered.
- The cost variance, which Inventory Control calculates by multiplying the adjusted unit cost by the quantity variance.
- The Serial/Lot Quantity variance (if any) between the quantity counted and the numbers assigned.
- The status code of each item, indicating whether the item information can be posted by the Post Inventory Reconciliation screen.
- Comment lines where you can write remarks for your own information.
- Explanations of each status code:
- Ready to post. The item is ready to post and will be deleted from the report when you post the inventory reconciliation.
- On hold. The 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.
- Item does not exist. The item record was deleted from Inventory Control after you generated the Physical Inventory Worksheet.
- Non-stock item. This status identifies non-stock items.
- Item not allowed at location. This status identifies items at a location which are not allowed to be used in transactions.
- Insufficient quantity. This status applies only when you do not use the Allow Negative Inventory option. The status identifies items whose quantity on hand would fall below zero if you posted the reconciliation.
- Item not active. The item's status has been set to Inactive on the item record.
The Include Stocking Unit Only version of the report includes a single line for each item, showing information for only the stocking unit of measure, rather than for all units defined for the item. The report also includes comment lines if you selected this option.
Both versions of the report include details for active items and, if you selected the Include Inactive Items option, details for inactive items.