Understanding Counts

PeopleSoft Inventory counts enable you to:

• Complete system-generated counts or define manual counts.

• Collect count data manually or with third-party electronic data collection devices.

• Close storage locations manually or continue to record transactions during a cycle count.

• Analyze and resolve discrepancies in inventory data using the Reconciliation report.

When you finish collecting and analyzing count data, the system updates count quantities and generates the appropriate accounting transactions to ensure that the inventory is properly reported in the system and properly valued.

With PeopleSoft Inventory, you can also set up cycle counts or physical inventory counts. After determining the type of count to perform, you create a manual count or a system-defined counting event. System-defined counting events can be blind or non-blind. You can further control the counting event by including or excluding zero-quantity items and using the count date and time to ensure that the count is accurate if inventory transactions are allowed during the cycle count process.

In addition to using the PeopleSoft Inventory system, you can use mobile devices to count inventory for counting events created in the Inventory system. Using PeopleSoft Mobile Inventory Management, you can enter guided counts, counts by location, counts by item, and manual counts. After the stock count quantities are recorded, PeopleSoft Inventory can produce a reconciliation report showing the differences between the counted item quantities and the item quantities currently recorded in the inventory business unit.

For more information about the application and counting inventory, see PeopleSoft Mobile Inventory Management