RentalExpress - Retail Express - Physical Inventory

Procedure to take inventory

Step 1. Open AxS Central, Inventory and select the Physical Inventory tab. Right click in the blank space to bring up the shortcut menu and select Add.

Step 2. When the next screen opens, click on the three dots next to From Location and select you location.

Step 3. Place your cursor in the Scan Item or Map Id text box and start scanning.

If you scan an item more than once, it increments the same row instead of continually adding a row. If you want to change the qty you can change the Qty to Inventory prior to scanning or scan once and then place cursor in the qty field in the grid and type in the correct qty.

If you make a mistake and want to delete a row, highlight the row and hit the delete key.

Step 4. Once you are FINISHED scanning. Go to Tools – Adjust Inventory

Leave this screen as is and click on OK. This will bring items not scanned that have a QOH <> 0 to 0.

Step 5. Run the report from the Report Navigator. MAKE SURE YOU SELECT YOUR LOCATION OTHERWISE YOU WILL BE COMPARING PHYSICAL WITH ABG’S INVENTORY.  

R:\Reports\crystal-v9\Retail_Audit_V9\Rtl_PhysInventory_ByBatch_Unposted_ODBC.rpt

Review your report, looking for variances. Typical activities are: a) Someone forgot to sell something. Go into POS and sell. b) store forgot to transfer, go ahead and create transfer and post. And c) store finds items they forgot to scan, open physical inventory batch, scroll down to line and change qty. Items are in sequential order.

Once you are happy with your physical, post and run

R:\Reports\crystal-v9\Retail_Audit_V9\Rtl_PhysInventory_ByBatch_Posted_ODBC.rpt.

Report the inventory value to accounting… NOT THE VARIANCE. Their variance should be very close to your variance but is never equal.