Definitions of fields on the over/short report:

VALUE = Inventory value calculated at the time the Over/Short Report is run. Starts with the value in the current INVTOTAL file and backs out activity since the workfile was captured if the inventory is unlocked and processing has continued.
BEGINNING QTY = This figure is backed into based on the On-Hand/Books usage, addition, and adjustments for the activity date range factored in.
ADDITIONS = Sum of all stock addition quantities received during the activity date range.
NOTE: Manual edits which have no transaction audit trail can skew this value.
USAGE QTY = Sum of all sales and manufacturing (on components) quantities incurred during the activity date range. (Note: 2012 – It is adding back in the active dticket quantity at the time of the report. It does not pull this from invtotal.inv cost adjustment dticket capture.)what
ADJUSTMENTS = Sum of all stock adjustments quantities for the activity date range.
ON-HAND/BOOKS = On-hand quantity extracted from INVTOTAL at the time the physical workfile is created.
PHYSICAL COUNT = Actual count entered by AGRIS operator.

OVER/SHORT = Quantity over or below the On-Hand/Books quantity; used to determine Over/ Short values which are posted to the ledger.
PCT/SHRINK = Physical count qty/usage qty * 100
AVG COST = Average cost extracted from INVTOTAL at the time of the update unless inventory was unlocked and there is a change in value between the workfile capture date and the current date.
VALUE-O/S = Over/Short * Avg Cost. These values are posted to ledger.
USAGE-COST = $-Value-Usage/Usage Qty
$-VALUE-USAGE = Total cost of all sales and manufacturing (for components) generated during the activity date range.

During each phase of the Physical Count:

BUILD PHYSICAL COUNT WORK FILE:

A workfile is created based on the location code and product category parameters that are input, reading from the INVMASTER and INVTOTAL. The on hand quantity from the total file (and the date of last physical count from the master file) is captured at this time. (Also stores the capture date of the workfile as the ending date for the activity date range.) The inventory is locked, restricting transaction entry (the operator can however "unlock" inventory by resetting the answer to the question, "Inventory Locked Due to Physical Count?" to N in inventory setup options. Operator will receive a warning that the processing date should be pushed forward if this lock is removed so that no further processing can occur on the same day that the workfile has captured on-hand and so that they backing out of activity after that date can occur confidently.)

ENTER PHYSICAL INVENTORY COUNT:

The operator has distributed the count worksheet for the manual recording of the actual count and now enters those counts in AGRIS. (AGRIS prevents the entry of negative counts, but still allows counts resulting in negative adjustments.)

PRINT PHYSICAL COUNT REPORT:

A report is printed showing each item, its physical count, per books quantity on hand, and the over/short quantity. The operator should use this report to verify correct entry of the actual counts. If any were not correctly entered, the operator should go back into Enter Physical Inventory Count and re-enter. The question "Use which quantity for items not counted" many times causes confusion. It refers to items in the workfile for which there was no count entered. For report purposes, the program needs to know whether the operator wants to show the Quantity on Hand per books or a Zero Quantity on Hand.
This is for report purposes only. If the operator selects the option to use Zero Quantity on Hand for items not counted, the on-hand in INVTOTAL will not be zeroed out.

GENERATE OVER/SHORT REPORT:

This is where the Over/Short report is generated, showing all the fields defined above. The operator has the choice whether to actually update the counts or print the report for review prior to updating. The update changes the Quantity on Hand in the INVTOTAL by the calculated adjustment quantity and also changes the inventory value accordingly: puts over/short values into the proper format to be picked up by the SJI for posting to the ledger in the form of a transaction in the INVTRAN1 file, deleted the physical count workfile and updated the date of last physical count in the CONSTINV file. (This date is writes to the INVMASTER file for each item in the workfile so inventory inquiry can display and reports can be ranged to help identify and locations or product codes which have/have not been counted by date. This date is the actual date used by the NEXT physical count as the beginning activity date for activity calculations for that item.)
At the start of the update, the current average cost and the current inventory value are read from the INVTOTAL file and the quantity on hand captured when the workfile was created and the actual count entered are read from the workfile. Then, the activity of the item is accumulated from the records in the INVTRAN1 and INVTRAN2 file using the beginning and ending date range. Once the value is accumulated, the net change in value from the current date back to the ending date (i.e. Workfile capture date) which I will refer to as NetChg. NetChg in other worked is a total of inventory on hand value changes that occur if the inventory has been unlocked and sales and purchase have been recorded since the workfile capture. If there has been a change in value since the capture, i.e. NetChg not equal to Zero, then the value at capture time is calculated as the current value less the NetChg, which I will call NetVal. Then using the quantity on hand that was divided by the workfile quantity on hand. Do note that unless a change in value between current date and ending activity date has been found, the average cost in the INVTOTAL is used. This explains why a cost adjustment prior to the Over/Short update is advisable, particularly if the operator compares the Value on the Over/Short report to the ledger and/or the to the Inventory Activity Summary report. Otherwise, the cost adjustment procedure should be run after the update to adjust for any counts that resulted in a previously negative on-hand item going positive.

DELETE WORK FILE (NO UPDATE):

This option should be used if the workfile needs to be terminated prematurely. Some of the reasons for this might be: transaction for the current activity date range were entered after creation of the workfile and the processing date had not been pushed forward, certain items were not included in the original build, or the operator has decided to process the physical count at another time. Deleting the file with no update results in the inventory lock being removed if set and no change in the Date of the Last Physical Count of any items.

IMPORT OPTIONS:

AGRIS has the ability to import to the physical count temp file, thus allowing you to gather the data to a spreadsheet or ASCII file & then update the AGRIS count from that file. The file layout for this file is maintained in AGRIS – Maintenance – File Layouts for Imports – INV – Physical Count Import.

~Document Written By Alisa Mueller

 

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