Physical Count -- Adjustments and Audit Trail for Inventory Adjustments


	Live Chat by LivePerson

Physical Count: Adjustments and Audit Trail for Inventory Adjustments

Overview

SIMMS Inventory software delivers the tools required for conducting physical inventory counts helping streamline your physical inventory counts with our Stock Count feature. Integration with data collectors helps your counters gain efficiency by scanning barcodes instead of hand-writing quantity details on a clipboard. SIMMS will compare its quantity to the details from your data collector to determine the variance. Review discrepancies before finalizing the stock count to determine if a re-count may be required.

Stock Count documents can be created for specific item and stock bins so you can easily compare physically counted item quantities to the “system quantity” stated in SIMMS.
System cost and quantity details can be hidden from counting staff to ensure more accurate counts. Inventory values can be displayed at any time by managers who need this information.
Physical quantity details can be entered manually, or imported using data collectors.
Indicate if you wish the physical to match the theoretical stock at the beginning of an adjustment or if you wish to just “zero out” your stock for all items prior to starting.
Stock Counts can be tracked in multiple stages to match your workflow. Counters can enter the data, have it reviewed by managers and then final adjustments can be made by accounting staff.
You have options to “block” inventory from being used while the count is taking place or instead do a “snapshot” to minimize the interruption to operations.
Adjustment documents created as a result of the stock count are recorded and linked to the stock count for a complete audit trail.
Additional features are available as options, including printing a variance report to view the discrepancies in the physical and system quantity in terms of units, value or percentage.

Collapse