Inventory Snapshot and counting while still selling

  • mooseracing January 20, 2020 at 2:43 pm

    I just needed to get confirmation on what we were thinking that we are reading in the instructions for selling while still doing inventory.

    The way I am reading it I think this should be our process:

    1. Snapshot Dec 31/Jan 1

    2. Start counting items on shelf while still selling AND new inventory coming in.

    3. Go to variance page, add back all sales counts of items since snapshot AND new inventory orders

     

    Is that correct?

    Benjamin January 20, 2020 at 3:03 pm

    The count you are entering should reflect the quantity at the snapshot time (Dec 31/Jan 1).

    For example, the snapshot quantity is 10, you count 9. The variance is -1 (9-10). If the current quantity is 15 after selling and PO receiving, the final quantity will 14 (15-1) after the last step of inventory count (applying variance).

    mooseracing January 20, 2020 at 5:45 pm

    So you are saying it will apply the purchase orders entered to the inventory snapshot once the variance is accepted/applied for the snapshot count?  Ie – we don’t have to do anything extra on our end?

    I will have to verify that is what we are seeing.  For example one product was 0 at snapshot, PO was 8, but there is 4 on the shelf due to sales.  So someone that is not involved in purchasing then enters count as 4.  That would then be incorrect.

    In the KB – this statement is a little confusing.   “Any items sold after creating your inventory snapshot, but before they have been counted and added to a batch must be added to your count using a manual input batch. “

    Benjamin January 20, 2020 at 7:30 pm

    “For example one product was 0 at snapshot, PO was 8, but there is 4 on the shelf due to sales.  So someone that is not involved in purchasing then enters count as 4.” In this case, you should count zero, because 4 was from PO after snapshot.

    If the snapshot is 8, sold 3 after snapshot. You should count 8. Or count 5, and add 3 (sold) to another manual batch.

    You should count items right after the snapshot created. If you cannot count the whole store at one night, you should do selective/partial count. Or re-create snapshot at the time point of actual counting.

     

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