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Physical Inventory Tips For Dynamics GP Stock Count Schedule

Physical Inventory Tips for Dynamics GP Stock Count Schedule

Nobody looks forward to conducting a physical inventory. But for users of Microsoft Dynamics GP, there are powerful tools that make this process less painful, including the Stock Count Schedule in Microsoft Dynamics GP.

As the leaders in barcode solutions specifically for inventory and Dynamics GP, we are intimately familiar with this functionality, and offer up the following tips (apart from adding PanatrackerGP as a tool to make the count entry more efficient).

First, we will point out how the Stock Count Schedule setup works. You can create one master schedule or you can create a number of schedules. You can either use the option to define the Site or set up your schedule to include multiple sites.  If you are using multiple-bin tracking in Dynamics GP, you will need to include the bins in addition to the site. GP makes this a bit easier with the ability to complete a mass add. There are a number of options for a mass add including ABC Code, Item Class, Generic Description, and Bin. You can define a range for any one of these options.

Only one item-site-bin combination can be included as part of a “started” count, so if you are setting up several scheduled counts, be cautious not to duplicate them. Once your count is saved and you are ready to complete the physical activity of the count, you will “start” the count which then captures the Dynamics GP On Hand quantities that the count will be verified against.  You will also be able to print out count sheets or the count schedule will be available to use within PanatrackerGP to capture and submit the counts back to GP's Stock Count Entry.

If you will have several team members working on a count team, it is important to define the physical areas they will be assigned to count. You may also want to consider purchasing colored stickers which can be applied to the inventory when the count is completed.  If you have a second count team, then it may make sense to use two different colors. If you use multiple-bin tracking in GP, you may want to consider creating multiple count schedules based on bin ranges. This can make the reconciliation process a bit easier.

Ideally, all inventory activities should be stopped during the physical count activities. The variance to the count is the captured GP quantity at the time the count is started. Physically moving, taking out or adding inventory from the start of the count to the physical count completion can generate false discrepancies. You may end up recording duplicate adds or reduction to your inventory.  If you do need to handle inventory during the count, record the transactions and save them in a batch, but do not post them. During the reconciliation process, access to unposted transactions is available to account for discrepancies. Variance quantities can be adjusted manually prior to processing the Stock Count in Dynamics GP. If you don't have the luxury of freezing inventory activities, you may also want to consider the Blue Moon QualityCount as an option. PanatrackerGP integrates with that solution in addition to the Dynamics GP Stock Count for efficiently capturing the counts.

Before you start your count, it is recommended that all inventory transactions are posted within Dynamics GP. This includes adjustments and site transfers. You may have allocations on sales transactions and manufacturing orders; however, these allocations only affect available quantity and not the on hand quantity. If for any reason you have sales transactions that  have been physically fulfilled — where the inventory has been actually shipped but the sales transactions but need to remain pending processing for the transfer and/or post, create a Smartlist report and save to an excel spreadsheet. This can be used in your final review of variances.  Also consider Panatrack’s Advanced Order Fulfillment transaction where the pick moves inventory to a staging or pick bin which can be segregated from your stock count of the stock bin locations.

Once your counts have all be entered, you can view the variances and reconcile to any new unposted transactions, or to your known unposted transaction list that was captured at the start of your process. You may want to consider setting up a Smartlist for your Stock Count to create an Excel spreadsheet for easier analysis.

Once you have reviewed and made any adjustments to your final variance quantities, then your Stock Count is ready to process in GP. By processing the Stock Count, the variance transaction is automatically created.  If you have used the Smartlist and Excel option, you may opt to process your stock count prior to adjusting your variances, and set the variance transaction so it does not automatically post. You can then move your analysis to your spreadsheets and then make changes to the variance transaction prior to posting. This may be easier if your Stock Count Schedule has a large number of items or if you have a number of variances.

Add efficiency and automation to your stock count activities with the PanatrackerGP inventory management solution for Dynamics GP.


Panatrack Vice President of Business Development Pam Burnham is a respected expert on inventory and asset tracking and Microsoft Dynamics GP. Her background includes both hands-on and management experience in accounting, operations, sales and computer technology.

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