Inventory Worksheet — Features
The Inventory Worksheet provides an organized form which you can fill out when taking a physical count of inventory. Use the report to enter total quantities for each unit of measure into Inventory Control to prepare for inventory reconciliation.
The report also sets the range and order of item numbers for the Inventory Reconciliation report.
Note that when you post an inventory reconciliation for which an adjustment number already exists, the Inventory Worksheet will create separate adjustments for every one hundred items, and append "1", "2", "3", etc. to the end of the document number.
For instructions on printing the report, see Printing the Inventory Worksheet.
Information printed on the report
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The date on which you generated the worksheet, and the comment you entered for the worksheet in the Inventory Worksheet form.
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The unit cost (appears if you selected Unit Cost for the report). If you use the most recent cost or standard cost costing methods, the unit cost is the same as that displayed in the Location Details form. For average and LIFO/FIFO costing, Inventory Control calculates the average unit cost by dividing the actual cost by the quantity on hand.
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The column where you record the inventory count for each item and corresponding unit of measure. You later enter these figures in the Physical Inventory Quantities form. If you selected the Default Quantity On Hand choice in the Generate Inventory Worksheet form, the current quantity on hand for each item is already printed in the Counted Quantity column. You then manually enter figures only when the counted quantity differs from the figure stored as the quantity on hand in your Inventory Control program.
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A column where you can record a temporary status of On Hold or Not On Hold for items whose status you want to change for reconciliation purposes. You then use the Physical Inventory Quantities form to assign the temporary status to affected items. Use the On Hold status to prevent items from being updated when you post the inventory reconciliation. Use the Ready To Post status to allow on-hold items to be updated when you post the reconciliation.
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An optional blank line you can include for writing comments or remarks about each item, for your own information (appears if you selected Comment for the report). You do not enter these comments in Inventory Control.
See also