Bruce:
We haven't done a full physical inventory in over 5 years -- we use cycle
counting...you may need to investigate how your cycle counting is designed.
If you have so many things in a particular category that you CAN'T count
them in a month, I would think you need to refine your categories. It's
been so long since we set them up, I may be a little rusty on this, but you
select the number of days for your count frequency, along with unit cost and
minimum $ volume -- so you either have your frequency set too often for low
dollar items, or your minimum dollar value too low. The help in Vantage is
pretty decent on this. We did experiment quite a bit at first to get it
pulling all the right things. When it recalculates, it shuffles things
based on usage, so you are counting stuff that hasn't had any activity in
months and months.
Lydia
-----Original Message-----
From: Brian Larcom [mailto:bwlarcom@...]
Sent: Friday, December 09, 2005 7:18 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Cycle Count Post
Bruce,
As the CFO of our company, I have the same requirement. However,
there is a difference between a cycle count and a full physical
inventory. Cycle counts should be small enough to be done in a few
hours. A full physical inventory is usually done at year end and the
accounting period is usually not closed for a few weeks. This gives
time to complete the inventory and resolve any discrepancies.
Hope this helps.
Brian W. Larcom, CFO
Metallized Carbon Corporation
We haven't done a full physical inventory in over 5 years -- we use cycle
counting...you may need to investigate how your cycle counting is designed.
If you have so many things in a particular category that you CAN'T count
them in a month, I would think you need to refine your categories. It's
been so long since we set them up, I may be a little rusty on this, but you
select the number of days for your count frequency, along with unit cost and
minimum $ volume -- so you either have your frequency set too often for low
dollar items, or your minimum dollar value too low. The help in Vantage is
pretty decent on this. We did experiment quite a bit at first to get it
pulling all the right things. When it recalculates, it shuffles things
based on usage, so you are counting stuff that hasn't had any activity in
months and months.
Lydia
-----Original Message-----
From: Brian Larcom [mailto:bwlarcom@...]
Sent: Friday, December 09, 2005 7:18 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Cycle Count Post
Bruce,
As the CFO of our company, I have the same requirement. However,
there is a difference between a cycle count and a full physical
inventory. Cycle counts should be small enough to be done in a few
hours. A full physical inventory is usually done at year end and the
accounting period is usually not closed for a few weeks. This gives
time to complete the inventory and resolve any discrepancies.
Hope this helps.
Brian W. Larcom, CFO
Metallized Carbon Corporation
--- In vantage@yahoogroups.com, "Bruce Butler" <bbutler@k...> wrote:
>
> Our finance guy has made a requirement for the stockroom to have all
> cycle counts started within a month, finish within that same month
in
> order to avoid posting transactions to a closed period.
>
>
>
> This makes doing a full physical absolutely impossible for us. Does
> anybody know of a work around?
>
>
>
>
>
> Thanks,
>
>
>
> Bruce Butler, IT Manager
>
> Knappe & Koester <http://www.knappe-koester.com/>
>
> 18 Bradco Street
>
> Keene, NH
>
> p. 603-355-1166
>
> f. 603-355-2266
>
> bbutler@k...
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
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