Physicals can be entered into the system when actual inventory counts have been taken and should be taken after reconciling your accounts/Periods.
The Physical is taken for the very end of a given day. Once a physical inventory is taken, it can lock down inventory for the past.
Validating Physicals - If a physical is entered, it can affect what you are able to do in the system prior to a physical date for that item. Check this documentation to see what is limited.
Physicals By Lot
Inventory → Common → Physical By Lot
Physicals per lot number can be taken within this form for an item and day. Only one physical can be entered per item per day within a lot.
We have added a new column called "Last Physical". This will need to be added to the screen using the Column Chooser context menu.
When added, this column will display the last physical inventory date taken for the displayed inventory balance.
Physicals By Location
Physicals for a whole location can be taken and entered within this form for an item and day. Only one physical can be entered per item per day within a location
Inventory → Common → Physical By Location
We have added a new column called "Last Physical". This will need to be added to the screen using the Column Chooser context menu.
When added, this column will display the last physical inventory date taken for the displayed inventory balance.
I enter a physical adjustment and reload the screen. We can see the inventory has now been corrected.
Inventory balances will report the new balance as-of that date.
GL distributions have been updated to account for the difference in inventory caused by the physical.
Whenever we load this inventory, we will see a "Last Physical Date". This is the last date in the database that a physical was taken on.
Prior to this date, Inventory can no longer be used, allocated, or transferred anywhere else in ERP.
If we navigate to an as-of date prior to a physical, we will see the latest of those physicals in this field. If we navigate past a physical, we will see no value. This simulates what the various inventory control systems will see when they attempt to change inventory as-of a date. If a physical is there, it will be prevented.
Deleting Physicals
To resolve issues with as-of inventory usage that happens before physical counts are taken, we have added validations that will prevent users from performing a usage, allocation, transfer or adjustment after a physical has taken.
The only way to allow users to proceed will be to delete the physical inventory. The current forms do not include this feature, so we are adding it.
To delete physical inventory counts by lot or location we will need:
- Module permissions to "Physical by Location".
- Module permissions to "Physical by Lot".
If we want to delete the physical, we'll right click the row and choose "Delete Physical". We'll be asked to confirm our deletion before proceeding.
Keep in mind that whether we have an inventory taken by lot or location, inventory can no longer be used, allocated, or transferred anywhere else in ERP before their physical dates.