Physical Inventory Checklist

Physical Inventory Checklist

Yellow Dog recommends including the this Checklist in your physical inventory process for every physical for every outlet. Following this checklist will provide accountability and ensure the smoothest possible inventory at period end. *PDF of this checklist is attached at the bottom*


Outlet (s)            _____________________________        Last Months Ending:                              __________

 

Staff Member:     ____________________________         This Month Actual Revenue                    __________

 

                                                                        This Month’s COGS Budget Amount/%    _______/___

Physical EOM      _________________________            This Month’s Actual COGS Amount/%     ______/____

                                                                       

Pre-Physical Checklist

  1. Set time to start physically counting outside of business hours                     
    1. Date: ________ Time: _______
  1. Confirmed all invoices/receipts entered in Yellow Dog (Committed)
  1. Confirmed AP has also entered all of these in AP (3-Way match of Vendor Invoice stapled to YD Invoice stapled to AP Invoice)
  1. All waste entered at least one day BEFORE your do physical
  1. Handheld prep
    1.  Ensure units, and any backup batteries are fully charged 
    2. If 520s, or Docked version is being used confirm pre count sync happened
  1. Paper Count Sheets printed and checked, all new items are included and in correct order
    1.     Reporting Explained: All Items Not on any Count Sheet
  1. Printed negative on-hand report day BEFORE physical.  Resolve negatives before taking physical.
  1. Straighten up/tidy up inventory areas. Move product to where it should be.


Physical Checklist

 

  1. Setup problem item table (or process to deal with items that won’t scan)
  1. Printed Count Sheets, assigned to staff
  1.      Assigned Data Collectors


Review of Physical (Before Committing)

 

  1. Print POS Sales Report for month to help audit
  1.  Have last month’s ending inventory and this month’s budget COGS amounts to validate actual COGS for this month before committing.
  2.  All counts added to Physical
  1.  Sort by “Variance Cost (Descending), Item”, review and recount as needed
  1.  Review and recount as needed all “zero counted” items
  1. Sort by “Variance Quantity, Item.  Review and fix any positives
  1.  Once you’re within your threshold for COGS Variance, commit physical.


Post Physical Checklist

  1. Print Detailed by Select Physical Report
  2.  Print COGS By Department Report
  3. Hand in this sheet (per outlet and the above 2 reports) to your supervisor

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