At periodic intervals, it is a generally accepted accounting principle to validate inventory quantities on hand. This is typically accomplished by a physical count of items in stock.

The selections on the Physical Inventory Processing screen are used for this purpose.

Processing steps

1. Physical Count Sheet during the actual counting of stock.
2. Set Physical Inventory Status .
3. Physical Inventory Count Entry based on information entered in the Physical Count Sheets. This button is only available when a physical inventory is in progress (the current physical inventory status will display at the top of this screen).
4. Physical Inventory Reports you want to print.
5. Update Physical Inventory.
6. Clear Physical Inventory Status to return to normal operations.

   As each function is completed, a green checkmark will appear to the left of the selection button. These checkmarks will not be cleared until the physical inventory is cleared.