Generating Inventory Worksheets for Stocktaking

Inventory Control provides six screens to help you physically count inventory items. For an overview of the complete stocktaking process, see Counting and Reconciling Inventory Quantities.

You must generate worksheets in order to enter physical counts later in Inventory Control and generate adjustments. You can also print generated worksheets to help with the physical counts.

Note: If you generate an inventory worksheet for a location that already has a worksheet, the program replaces the old worksheet with a new one. The program warns you if there are existing worksheets for locations and lets you choose whether to replace them.

  • Run Day End Processing to update the company's Inventory Control data if you have posted transactions since the last time you ran Day End Processing. (You should run Day End Processing even if you cost items during posting.)
  • Decide on the inventory locations, account sets, and items that you want to count.
  • Decide on the sorting order in which to list items on the physical inventory worksheets.
  • Make sure no other users are working with the Inventory Control database and no other Inventory Control screens are open on your computer.
  • If you need to use the average cost to calculate adjustments for standard cost items, make sure that the UseActualCostForPI switch is set to Yes in the IC.INI file before generating a physical inventory worksheet. (For more information, see Using Average (Actual) Cost for Physical Inventory Adjustments.)

Warning! To ensure quantities and costs on worksheets are current, do not post transactions (receipts, shipments, transfers, adjustments, assemblies, or internal usage), and then run Day End Processing between the time you generate inventory worksheets and the time you post the inventory reconciliation.

To generate inventory worksheets:

  1. Open Inventory Control > I/C Physical Inventory > Generate Inventory Worksheet.

  2. Specify the range of locations and account sets for which you require the worksheet.
  3. Specify the order in which you want to list items on the worksheet.

    This is also the method by which you will select the items that you want to list. For example, you can choose a range of item categories or item numbers, or you can select a warehouse area by choosing a range of picking sequences (bin numbers).

  4. Enter an optional comment to be printed on the worksheet.
  5. Specify which items you want to include on the worksheet:
    • All Items from Inventory List. Includes all the items in your inventory that are in the Sort By range.
    • In Use Items Only. Includes only the items in the Sort By range that are assigned to and have been used in one or more transactions at the locations for which you are generating worksheets.
    • Items from Location Only. Includes only the items in the Sort By range that are assigned to the locations for which you are generating worksheets.

    Note: Items are included regardless of whether they are currently allowed to be used in Inventory Control transactions.

  6. Select the Default Quantity On Hand option if you want Inventory Control to automatically display the current quantity on hand in the Quantity Counted column in the Physical Inventory Quantities screen or the Inventory Counts screen when you enter counts in Inventory Control.

    Regardless of whether or not you select this option when you generate the inventory worksheet, you can later print the current quantity on hand on Inventory Worksheets.

  7. Click Generate, and then click OK from the message that appears.
  • Optionally, print inventory worksheets on which to write the physical inventory counts. (For instructions on printing this report, see Printing Inventory Worksheets for Stocktaking).
  • Count inventory items.
  • Use the Physical Inventory Quantities screen or the Inventory Counts screen to enter physical inventory counts for inventory worksheets.