How Does Inventory Count Work

Usually, the storekeeper will count the physical (actual) quantity in the store occasionally to record any loss or extra quantity which was not recorded.

To create an inventory count, follow these steps: (A hyperlink that provides a details explanation is available for each step):

1-Creating Inventory Count (Click Here for more details)

You can easily create inventory count in just a few clicks.

2-Adding Items to Inventory Count (Click Here for more details)

Link the required inventory items to any inventory count of choice with just a few clicks.

3-Submitting Inventory Count (Click Here for more details)

4- After submitting the Count transaction, you will see new columns in the transaction details, including the following information: 

• Entered Quantity: The quantity submitted in the transaction.
• Original Quantity: The theoretical quantity calculated by Foodics based on the previous transactions.
• Variance Quantity: The difference between the Entered and original Quantities (variance quantity = entered quantity - original quantity).
• Variance Percent: The percentage of the variance quantity to the original quantity (Variance Percent = [original quantity/variance quantity]*100).
• Variance Cost: The cost of the variance quantity.

Note: The new quantity in the system will be adjusted automatically after the closing of the transaction. So the quantity for the items in the branch/warehouse will be the Entered quantity in the Inventory Count transaction. For example, if the entered quantity for a tomato item is 100 KG, then the quantity on that branch inventory for the tomato will change immediately to 100 KG (Click here to learn how to check the quantities in inventory level report).