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Physical Inventory Journal process aims for move the value to cost of goods sold.
Steps:
| 1 | Go to Physical Inventory Journal then select Prepare, calculate Inventory… |
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| 2 | Enter Document No and Select project location. |
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| 3 | Select Open in Excel Action for save the copy to conduct the physical stock take for the location.3. Select Open in Excel Action for save the copy to conduct the physical stock take for the location. |
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| 4 | Phys inventory set to “0” for all items. * Although the rest project material to be return to stock, the cost to be count into the project and this is no inventory value for the rest material. |
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| 5 | Post the Physical Inventory |
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Journal |
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Steps:
Go to Item Journals then enter the journal line for the item it needs to return to inventory.
Select Entry Type = Positive Adjmt.
Fill up the Item No.
If the item no. is generic item no, enter the description for the item it needs to return to inventory.
Select Location Code = Main
Enter Quantity
No need to enter unit cost because the item returns to inventory is no value.