PI-A  Capture Frozen Inventory

Purpose of Program

Use this program to capture your current inventory counts and costs into a separate holding file.  This file will ultimately be compared with the physical inventory counts and the actual inventory and General Ledger will be corrected for any discrepancies.  Once this program is run, operations should cease until all the physical counts are completed.

You can freeze the entire inventory if you are conducting a complete physical inventory or you can limit the items to be frozen if you wish to conduct a partial inventory or perform cycle counting.

Each physical inventory stays on file indefinitely until purged through PI-H  Purge Physical Inventory.

General Program Operation

When you start the program you are presented with an information screen that suggests some programs and reports that should be run before actually conducting a physical inventory.  These programs and reports can find potential problem areas in the inventory that are best cleaned up prior to conducting a physical.

Creating a New Physical Inventory

To create a new physical inventory, enter the Year and the Physical Inventory No.

The Freeze Date defaults to today’s date, but can be overridden.  However, be aware that regardless of the date entered, the costs and quantities frozen are a “snapshot” of the inventory as it exists at the moment the capture is executed.  It does not back out transactions to arrive at a prior date on hand quantity.

The Count Type refers to whether or not all items with on-hand quantity within the ranges of cycle codes, part numbers, etc. will be counted.  If everything that is on-hand within the ranges selected will be counted and you want the program to zero out any item not counted, choose Type 2.  If you wish to count only certain items and have the program ignore uncounted items and make no adjustment, choose Type 1.

You can limit the items to be frozen by restricting the inventory to a particular Cycle Code or by entering from/thru ranges of item numbers, item classes, category and GL asset accounts.

Once you have completed the last field or at any point on the screen when the Process button is clicked, you are taken to a screen which allows you to choose which Locations are to be included in the physical inventory.  If you want all Locations included, click on the Tag All button.  You can tag an individual Location by double clicking on it or by highlighting it and clicking on the Tag One button.

Once you have tagged the Locations to be included, click the Go button.  You are then asked if you are ready to begin capturing the frozen inventory.  Click Yes or press <Enter> and processing will begin.  

When finished you are asked if you want to print the frozen inventory report.  You can do so now or you can click No and print the report later through PI-B  Frozen Inventory Report.

Changing an Existing Physical Inventory

You can change an existing physical inventory if you wish to change the items or locations that are to be included.

To do, enter the year and number of the physical inventory to be changed, or select one from a lookup by clicking on the lookup button.

You can then change any of the filter ranges, if applicable.  When you are completed with the screen (or after clicking the Process button), you are informed that this is an existing physical inventory.

You are then presented with the Location tagging screen.  Tag or untag Locations as desired.  If you tag a Location that has already had tags entered through PI-C  Enter Tag Counts, you will be given the option of deleting those tag records, or leaving them intact so that they do not have to be re-entered.

When you are finished tagging Locations, click on the Go button.  You are then asked if you wish to proceed with capturing the frozen inventory.  If you do so, the inventory will be re-frozen with completely new records replacing the existing ones.