Inventory Cycle Counts

Overview

GoldFinch offers several cycle counting capabilities to accommodate different warehousing configurations. Evaluate the following options to decide on the most cost-effective option for your company.

Import Inventory Ending Balances

If you manage your inventory through 3PL warehouses, you can ask for the end of the month’s inventory balances in a CSV file. You can then use GoldFinch Import Inventory Ending Balances function to import and adjust your quantity on hand.

Print an Inventory Report

You can print the GF1001 Inventory by Bin by Lot As Of Now report and use it to count. Enter differences to an Inventory Adjustment to post.

Scan Bin Count Mobile App

If you have set up barcodes and have scanning capability, you can use Scan Bin Count mobile app to scan counts by bin and post adjustments directly on the mobile app.

Cycle Count Journal

Alternately, the Cycle Count Journal can be used to count inventory for a range of bins from a Warehouse.

Create a New Item Journal

1. Open the App Launcher. Search for Item Journals.

2. Click on New.

3. Select Inventory Cycle Count for the Record Type and click on Next.

   

Fill in the following fields:

1. Enter the count date as Posting Date.

2. Select To Warehouse.

3. Select From Bin and To Bin.  If you are only counting 1 bin, enter the same bin code in both the From and To Bins.

4. When complete, select Save.

GoldFinch uses the Bin Sort field on the Bin record to determine which bins should be included between the From Bin and the To Bin.

Calculate Counts

Select the Calculate Counts button to calculate the current quantities on hand for all items between the From Bin and the To Bin.

Calculate Counts function will automatically populate the Item Journal Line and the Track Line objects with the calculated quantities. 

Print the Cycle Count Sheet

Select the Print Cycle Count Sheet button to print the count sheet to be used to record the actual physical quantity and lot number for each item.

Edit Physical Counts

After the counts have been completed, select the Edit button to enter the Physical Qty, if Physical Qty. is different from the Calculated Qty. 

For lot-tracked items, you must enter the Physical Qty. by selecting the Enter Lots button next to the Item Journal Line in the Enter Lots section. The Quantity column is calculated automatically for the positive or negative adjustments that will be made when the Cycle Count Journal is posted. 

If you have a new lot to enter, select the Add Tracking Line button to add additional lines on the Enter Lots page. If you have new items to enter, you must create a separate new Item Adjustment Journal to record the counted quantities.

Post the Cycle Count Journal

Once the counted quantity has been entered on the Cycle Count Journal, you can select the Post button to post the journal.