Step 1: Parts Physical Inventory tab
(1) From the App Launcher, (2) enter Parts Physical Inventory then (3) click Parts Physical Inventory.
After the Parts Physical Inventory tab is open, click the New button.
Step 2: Choose the Location
Look up and choose the store location where the physical parts audit will be preformed.
Type the Location, or Click the search icon to open a lookup and display recently viewed locations. After choosing the desired location, click the New Parts Physical Inventory button.
The system will begin to batch process the new physical inventory report for the selected store location. Wait for the status to change to completed, indicated by the green 100%.
Click on Go To Parts Physical button.
Step 3: Print Count Sheets
Click on the Print Count Sheets button.
The Count Sheets will print out your inventory by Part Number and Description with the option of two separate fields for First Counter and a Second Counter. Use this sheet when physically counting inventory to record the actual count of each Part.
When the parts counts is complete, Click on the Enter Counts button.
Enter the actual count recorded on the Count Sheet in the Count box, along with any notes in the Notes box. The data entered will be transferred to this inventory variance report.
Click Save after entering all counts.
Optional Step 3: Use of a Scanner
When using an optional Barcode Scanner, click on the Scan Counts button.
When the Barcode is scanned it will show the Part Number and a Description of the part. Add the Unit Count and press Enter.
This will generate the count on the inventory report.
Scan the next part and repeat this process until all parts on-hand have been counted.
Step 4: Run a Variance Report
After the on-hand counts have been saved, Click on the Variance Report button.
The variance report will display 5 variables:
- Total Inventory Value
- Number of Parts
- Dealer NET Variance
- LIFO/FIFO Variance
- Total Unit Variance
Displayed below the variance report is a break down of the Unit Variance. Each part listed will include the MFG Part Number and Description, along with the Net, LIFO/FIFO Value, On Hand, Total Count, and Variance Count positive or negative.
When satisfied with the Counts and the Variance Report, click the Complete button.
A final summary for Outstanding Variance provides one last chance to review the inventory audit before the system updates your physical inventory and post the results.
Click the Complete Physical button.
After completing the Parts Physical Inventory your on-hand parts will automatically adjust. It will change the physical value of those parts according to the Variance Report that was generated.