Toll Free: (800) 996-9777 Local/Intl: (858) 732-3001 Help Desk Submit a Ticket Chat Request Free Trial

Taking Physical Inventory

Q. I am getting ready for my year end inventory and the question I have is ro's that are still open and have parts on them, is that inventory accountable or would I need to manually add it at the end?


When you run your inventory valuation report, it is counting all parts in inventory that have not yet been “sold.” A part that is reserved on an open RO is not yet sold, and is included in the valuation. When you run the “Take Inventory Valuation” routine, it will display the number of units of each part that are available, reserved, and “in stock” (not yet sold.) So when you do your counts to enter into the worksheets, you will want to include those parts that are still on open ROs and parts counter invoices. For instance, if part ABC123 (average cost of $10) shows 8 in stock, and 4 are reserved, and 4 available, and you count 3 on the shelf and you know that 4 are already installed on the vehicle, but the RO is still unpaid, you would enter 7 units in the worksheet. This will change, once you post the worksheet, the count to show 7 in stock, 3 available and 4 reserved. And after posting the worksheet, the inventory valuation report would have dropped by $10.

ONE CAUTION: when you are viewing a single part record, the valuation showing on the Price page only shows the valuation of the quantity available, not the quantity in stock, sort of an “anticipated valuation.”


Here's a video that discusses taking a physical inventory: Take a Physical Inventory