Reporting Explained: Physical Inventory Summarized

Reporting Explained: Physical Inventory Summarized


Use this report to review summarized physical inventory results. It helps you:

  • Validate inventory accuracy
  • Identify variances in quantity and cost
  • Confirm the financial impact of a physical inventory

 
Standard Reports > Physical Inventories  


The Physical Inventory Summary report provides a high-level view of inventory before and after a physical count.

It includes:

  • On-hand quantities before the physical
  • Counted quantities and costs
  • Updated on-hand values after commitment
  • Variances in quantity and cost

You can run the report by:

  • Category
  • Department
  • Store 

Generate the report

  1. Go to Reports > Standard Reports
  2. Select Physical Inventories
  3. Select a report version:
    • Category
    • Department
    • Store
  4. Apply filters (date and store)
  5. Click Generate  
 

ColumnDescription
Previous On HandQuantity on hand immediately before the physical (based on effective date/time)
Item Counted QuantityQuantity of inventory items counted
Related Counted QuantityQuantity of related items (child or batch items) counted
Total Counted QuantityTotal counted quantity, including items and related counts
Counted CostCost of counted items at the time of the physical
New On HandUpdated on-hand quantity after the physical is committed
New On Hand CostTotal cost of inventory after the physical is committed
Variance QuantityDifference between expected and counted quantities
Variance CostFinancial impact of the variance

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