Inventory Reconciliation

Overview

Inventory Reconciliation provides the means to act on the information gathered during a physical inventory/cycle count.

The menu option provides three functions

1. Inquire on and review Reconciliation Records that have been processed.
2. Create a batch record to be processed for items which were counted but not on the count list and not in the batch.
3. Create a Reconciliation Batch and populate the batch with item records.  

Navigation

Inventory Reconciliation

This path brings the user to a ‘List View’ of existing Reconciliation Records.

Step 1 – List view displays

Step 2 – Select the record to be viewed by clicking on the value in the Name Column.

Create a Reconciliation Record:

• Use this function to create a batch record to be processed for items which were counted but not on the count list and not in the batch.

Navigation

Inventory Reconciliation

Step 1  - Select 'New Physical Inventory Reconciliation’ button

• Used to enter a record for an item counted but not on the count sheet and not in the original batch. 

Fields

Inventory Division:  The Division in which the transaction was processed.

Batch Number:  The number of the batch in which the transaction is being entered. Must be a valid batch number.

Item Number:  The Item Number being reported.

Transaction Date:  The date of the transaction.

Inventory Site:  This site within the Division in which the Reconciliation transaction was created.

Project Number:  If Projects are active in this Division, the Project ID.

Location ID:  The Location ID of the inventory.

Actual Location Quantity:  The actual quantity counted in the Location ID / Location No combination.

  NOTE For serial controlled items, this field is based on the quantity of serial numbers reported.

Zero On Hand Confirmed:  If the Zero Quantity is count confirmed, the indicator is Checked.

Lot Number:  If the item counted is lot controlled, the Lot Number of the item is entered.

Serial Numbers:  If the item counted is serialized, the serial number(s) of the item are entered.

Hold Transaction:  Will be unchecked on processed transactions.

Adjustment Transaction Processes:  Checked when the Reconciliation Record has been processed.

Location No:  The Location No of the inventory. 

  NOTE Used with the Location ID.

Step 2 - Process the Transaction Using the Inventory Reconciliation Review & Processing

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Inventory Reconciliation Review & Process

1. Select the Batch to which the transaction was added.
2. Check the Select Indicator for the transaction which is to be processed.
3. Select the ‘Reconcile Selected’ button.

• Use this function to create a Reconciliation Batch and populate the batch with item records.  

Navigation

Inventory Reconciliation

Step 1 - Create a “Batch” record of an item to be counted

• Select ‘New Physical Inventory Reconciliation Batch’ button.

Step 2 - Select ‘Create New Batch’ button.

Fields

The selection criteria are:

• Division:  Division in which the “Batch” will be created.
• ABC Class:  The class of item. The classes are A Items, B Item, C Items.
• Site Master:  The site in which the “Batch” will be created.
• Commodity Code:  The Commodity Code of Items to be selected.
• Responsible Planner:  The Planner for who Item are to be selected.
• A ‘From Item Number’ to ‘To Item Number’ Range:  The entry of a range of Item Numbers to select for Cycle Counting.

          - Click on 'Save' button

Step 3 - Select ‘Create Reconciliation Detail’ button to create the batch header.

• After the “Batch” is created the screen will refresh. 

  NOTE The software assigns the next batch number.

Step 4 – Select the ‘Get Batch Records’ Button

The screen will refresh and display the Items in the Batch to be counted.

SEE ALSO

Cycle Count Report
An Approach to Cycle Counting
Inventory Item Master
Inventory Reconciliation Automatic Generation
Inventory Reconciliation Review and Processing