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Understanding the Inventory Reconciliation Report, during Physical Inventory Count

After entering the quantities counted during a physical inventory count, the Inventory Reconciliation report (located under Inventory Control / I/C Physical Inventory) should be printed to review the variances and the adjustments that will be processed during posting.  After posting the physical count, some errors may be reported, and the Inventory Reconciliation report will provide details on those items which have not been posted and why.  On the far right side of the report, there is a column labelled 'Status'.  The status field will identify what kind of problem is stopping the item from being successfully posted. 

The very last page of the report, shows a list of statuses and what they mean. 

1) Ready to post - item will post successfully

2) On hold - item has been flagged as 'on hold'.  Open the Physical Inventory Quantities screen and locate the item on the list.   Find the Status column (by default located on the far right) and change the status from On Hold to Ready to Post.

3) Item does not exist - the item has been deleted from inventory control, after the inventory worksheet was generated.  This item must be added back into inventory (IC Items and Price Lists / Items) and assigned to the appropriate locations (IC Items and Price Lists / Location Details).

4) Non-stock item - it is not possible to have a quantity of a non-stock item.  Open the item (IC Items and Price Lists / Items) and select the option for 'Stock Item'

5) Item not allowed at location - check IC Items and Price Lists / Location Details.  Ensure the location has been assigned to the item and that the 'Allowed' field for that location is set to 'Yes'.

6) Insufficient quantity - If the option to allow negative inventory is not enabled, any adjustment of quantity variance that puts the item into negative inventory will result in this status.  (it is possible that a transaction reducing quantity has been processed since the inventory worksheet has been generated, causing the variance adjustment that will be processed based on the earlier quantities to send the item into negative).

7) Item not active - in IC Items and Price Lists / Items, locate the item and de-select the 'inactive' check box.

8) Serial Quantity Variance - the quantity of items and the quantity of serial numbers are not the same.  Serial numbers will need to be added or removed using the Physical Inventory Quantities screen - or the Serial/Lot Reconciliation function under IC Periodic Processing.

9) Lot Quantity Variance - the quantity of items and the quantity of lot numbers are not the same.  Lot numbers will need to be added or removed using the Physical Inventory Quantities screen - or the Serial/Lot Reconciliation function under IC Periodic Processing.

 

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