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Annual Physical Inventory Procedures
Page 2
This document is located in ERC
Go to ERC / Help – Open Online Help
Scroll down on the help page and you will find the annual
inventory instructions under Inventory Management
Location of this Reference Document
Page 3
Count documents will be created for you on October 9.
Count documents will only contain materials with on-hand quantity as of
the date of creation.
Counts should be entered and posted beginning October 10 and ending
October 24.
Differences will be recorded immediately once count sheets are posted.
Departmental approval is required to post item variances greater than
$5,000
YOU’RE NOT FINISHED UNTIL YOU POST!
Important Facts
Page 4
Physical Inventory Transactions
The following SAP Express transactions are used during the
annual physical inventory process:
• Print Count Sheets (MI21) • Enter Counts (MI04)• Manage Count Differences (MI20)
Page 5
Steps for Completing Annual Physical Inventory
Step 1 Print Physical Inventory Documents (Print Count Sheets)
Step 2 Count Physical Inventory and Enter Count Quantity (Enter Counts)
Step 3 Review Differences Between Entered Count and Book Count
(Manage Count Differences)
Page 6
Steps for Completing Annual Physical Inventory
Step 1 Print Physical Inventory Documents (Print Count Sheets)
Step 2 Count Physical Inventory and Enter Count Quantity (Enter Counts)
Step 3 Review Differences Between Entered Count and Book Count
(Manage Count Differences)
Page 7
Print Count Sheets
1. Enter the Physical Inventory Documentnumber. To locate your Physical Inventory Document number(s), please refer to the spreadsheet that was emailed to the storage location contact:
2. Click Execute .
Page 8
Print Count Sheets
Click Print Preview to display in PDF format. From this screen you may Print or Save the count sheets.
Page 9
Steps for Completing Annual Physical Inventory
Step 1 Print Physical Inventory Documents (Print Count Sheets)
Step 2 Count Physical Inventory and Enter Count Quantity (Enter
Counts)
Step 3 Review Differences Between Entered Count and Book Count
(Manage Count Differences)
Page 10
Enter Counts
1. Enter the Physical Inventory Documentnumber. This was provided via E-mail and should also be printed on the top of your count sheet:
2. Click the Pencil icon .
Page 11
Enter Counts
3. The Enter Inventory Count screen displays. Enter the Quantity for each item with a count greater than zero.
4. You cannot enter a quantity of 0. You must leave the quantity blank and check the ZC (zero count) box.
5. Note: To navigate between pages of the count document, Use the previous page and next page buttons at the top. Be sure to page down until counts are entered for all items.
6. When paging, If any of your materials have been set to a special status, such as slow moving, a warning will appear at the bottom of the screen. Hit enter (potentially multiple times) and you will be able to proceed.
Example Warning Message
Page 12
Enter Counts
7. Click Save . You may
need to hit enter again if
warning messages appear.
8. Once you have finished
confirming the warning
messages and Save, you
should receive a message
that the count has been
entered.
9. If you have material physically
on-hand that is not listed on
the count sheet, email
and he will create a physical
inventory document for the
missing items.
Confirmation Message:
Page 13
Steps for Completing Annual Physical Inventory
Step 1 Print Physical Inventory Documents (Print Count Sheets)
Step 2 Count Physical Inventory and Enter Count Quantity (Enter Counts)
Step 3 Review Differences Between Entered Count and Book Count
(Manage Count Differences)
Page 14
Manage Count Differences
1. Enter the Physical Inventory Documentnumber.
2. Click Execute .
Page 15
Manage Count Differences
3. To facilitate posting, click the Difference amt. column header then click Sort Ascending to sort the difference amounts.
4. Check-mark all of the items for which you want to post the variance.
5. Click the Post Difference button to confirm the posting.
Page 16
Manage Count Differences
6. Click Save to Post the differences.
7. If any of the items were in a special status, such as slow moving, you will receive a warning message. Hit enter to get past the warning message.
7. If you attempted to post any items that were greater than $5,000, you will receive a warning message that the Difference amount of some items is too high. If this occurs, you can hit enter to get past the warning message and post the items that are less than $5,000. For the items that are greater than $5,000, you will need to contact the appropriate approver for your area. A list of users who can approve transactions greater than $5,000 is on the next slide.
8. Once you have finished confirming the warning messages, you should receive a message that the count has been entered.
Page 17
Approvers for Transactions Greater than $5000
Page 18
Approval of Inventory Differences over $5,000
The Manage Count Differences transaction is also used by approvers for
amounts over $5000:
To approve an item: check-mark all items for which you want to post the
variance and click Post Difference.
To disapprove an item: remove the check mark by clicking on the check-box.
Post the differences of approved items and exit the document. Then contact
the employee who requested your approval noting the relevant Inventory
Document number and material item number, instructing the employee to do a
recount for that item.
Be sure to scroll through all pages (if more than one)
Once completed, and you have approved at least one item in the document,
click the Save button. Doing so will charge or credit* the dollar difference for
the items you approved against the appropriate high-level cost center in your
department - typically at a VP or AVP cost center level.
Page 19
BW Annual Inventory Report
1. Storage location owners will receive a daily email to track their
progress. The email contains the percentage complete as well as the
total price difference that was posted.
Page 20
BW Annual Inventory Report
2. This information is also available in BW under the Inventory Turns tab.
There are three reports that are listed:
Annual Inventory Report – Plant
Annual Inventory Report – SLoc
Annual Inventory Report – Material
Page 21
BW Annual Inventory Report
1. Annual Inventory Report – Plant: This report contains the percentage
complete and difference amount at the plant level.
2. Annual Inventory Report – SLoc: This report contains the percentage
complete and difference amount at the storage location level.
3. Annual Inventory Report – Material: This report contains detail
information at the material level. This report can be used to identify
materials that have not been counted or posted.
Page 22
If you have any questions during the inventory period
(Oct. 10-24), please contact:
Sourcing:
Matt Dibbern (Diesel Fuel) 757-668-1613
Scott Feldman (Rail/Ties) 757-668-1607
Aaron Bondurant(Track Material) 757-668-1608
Other Departments:
Stephanie Key (MECH) 540-524-3101
Mike Hartung (MECH) 540-524-3100
Randy Bowman (ENGR) 404-529-1480
Phil Johnson (C&S) 404-582-6957
Accounting:
877-888-8489 (Option 5)
Need Help?