Stock Balancing

On a regular basis, companies need to reconcile their actual stock counts to the computer records.  Imbalances can happen when parts are mis-entered onto a workorder, when parts are lost, or when a user forgets to enter a part on an invoice.  Adjusting the computer records to the actual count will allow the business to maintain accurate records, and to take a financial adjustment for "depletion".

Run a report for the locations you wish to review.  The report will provide the partnumber, description, and current stock on hand.

The process begins by selecting the Balance option in the Inventory - Utility menu list.  Because this process can include a large number of parts, it is suggested that it be performed in location sections.  Enter a beginning and ending range, and the system will display a listing of all parts, and the recorded quantity on hand.  Compare this to the report you have run.  You can make any adjustments to the list, and then save them using the Save button.

Once the reconciliation is complete, you can select the Report button to obtain a printed summary of the changes, and the value involved.

It is important that this procedure be performed on a regular basis.