The Inventory Reconciliation option allows the current on-hand balance to be reconciled against the actual physical counts/cycle counts for selected items or item groups of inventory. Variances between physical and on-hand inventory can be viewed and adjustments can be made. The inventory reconciliation screen allows inventory adjustments to be made to the on-hand amount based on the quantity entered in the Reconciliation Adjustment Limit field in Inventory Options and enables users to perform inventory transfers to balance stock.
Before performing procedures through the Inventory Reconciliation screen, it is best to complete all transactions for the day. This includes shipping orders, receiving and completing purchase orders, and readying credit orders. In addition, all transfers, planned transfers, inventory adjustments, and work order should be completed prior to reconciling inventory. This will ensure that the data being used is solid data. Trying to reconcile inventory while performing normal business activities may result in shortages, etc. For example, if someone is reconciling at the same time another user is transferring items to complete a work order, it is possible to transfer or adjust the same product. For this reason it is important that all inventory transactions listed above be completed prior to reconciliation.
Note: The transfer and adjustment functions are available for non-lotted inventory items only.
| Available Actions | Using | Printing |
Security Required : Inventory - Inventory Reconciliation
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