Make a Physical Inventory adjustment

You may need to make a physical inventory adjustment for one of these reasons:

  • Discrepancies: If there is a difference between the actual physical inventory count and the recorded inventory count, you can make an adjustment to correct the quantity.

  • Damaged or Lost Parts: If parts have been damaged, lost, or stolen, you can adjust the inventory count to reflect the actual available quantity.

  • New Inventory: When adding new parts to the inventory, you can make an adjustment to update the quantity in the system.

  • Inventory Errors: If there are errors in the recorded inventory quantities, you can make adjustments to correct the discrepancies.

Making physical inventory adjustments helps to maintain accurate inventory records and ensure that the system reflects the real-time availability of parts.

The ability to create physical inventory adjustments may be subject to user permissions. You must have access to the Physical Inventory page to adjust the inventory. There are two ways you can give users access to the Physical Inventory page:

  • You can assign the user’s role to the Physical Inventory page.

  • You can assign the Physical Inventory page to the user’s role.

For more information, see Set up role and page security.

To make a physical inventory adjustment:

  1. Go to Menu > Inventory > Physical Inventory. The Physical Inventory page opens. The Inventories tab is active by default.

  2. Select Adjust in the lower-right area of the page. The Inventory Adjustment window opens.

  3. Enter the part number in the Part field. You can also find the part number using the image1 Search icon. The program completes the Part Description field for you.

  4. In the Bin Counts pane, select the part. The Actual and Cost Each fields become available.

  5. Enter the corrected number in the Actual field.

  6. If there has been a price change, enter the new value in the Cost Each field. Note: You can only change the price of a part if you are increasing the number of parts on hand. If you are decreasing the number, you cannot change the price.

  7. Select OK. The Enter Closing Date window opens.

  8. Enter a Closing Date. The program automatically enters the current date and time in the field, but you can update the information if needed.

  9. Select OK. The Enter Closing Date and Inventory Adjustment windows close.

You have completed making a physical inventory adjustment.