Year-End Closing, Inventory Counts, Freezing Inventory, Adjustments, and Posting.
When you need to take stock of your inventory, such as year-end closing, you can depend on Counterpoint physical count features. You can freeze inventory quantities for specific items, vendors, categories, a single stocking location, or all stocking locations. This flexibility allows you to count only part of your inventory, while normal operations continue in other departments or locations.
You can enter counts manually—from quantities recorded on printed worksheets—or import them from handheld scanners to streamline the counting process. You can also record up to six count quantities for each item (e.g., from different areas of your store). Posting physical count transactions automatically adjusts on-hand quantities for items where the frozen quantity and the counted quantity varied. You can skip uncounted items, set their on-hand quantities to zero, or assume their frozen quantities are correct.
You can use the same prompts for all serialized items, or you can associate different prompts with different items. Responses to serial prompts are retained with the transaction detail for each serialized item and are available for viewing and reporting.
For accounting purposes, you have the option of using the serial cost method to track the specific cost of each “always serialized” item, versus the average cost method used for other items.
CCS can help you plan your year-end closing and guide you through the detailed steps of freezing your inventory, counting, and adjusting your quantities. Contact CCS at CCS Support for assistance.
We also have equipment rentals for special occasions like inventory counting. Let me know if I can help.
Marilyn
