Basic Concept About Phy. Inventory

1, Physical Inventory:

The recording of actual stock levels (quantities) of materials by counting, weighing, or measuring at a given storage location at a specific time.

2, Difference

Differences may exist here between the actual amount and the amount in SAP system. And the reason caused that may vary in different situation. So, we must do the physical inventory check periodically, in order to adjust the system and something else such as posting if there is any difference.

3, For example:

We find that actual quantity of material A is 100 in our warehouse, but the number in SAP is 101. We say there is difference, and we must input the actual quantity into the SAP system. Then we post the difference and a material document will be created. Accounting information will be recorded automatically, which may like this:

CGS XXX / Inventory

4, First of all

Before you do the check, you should prepare the Material List which may exist there in your warehouse.

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