Cycle Count in Advanced Inventory

Keeping the inventory data secured is essential for many businesses, but you may find it difficult and time consuming. However, QuickBooks comes with a dedicated functionality called the Cycle Count. It basically allows you to integrate the mobile scanner and helps you in maintaining accurate inventory information without much time and complexity.

What Is A Cycle Count?

A Cycle Count is a process to keep a record of your stock and manage your inventory without any complexities and time involved in a total inventory count.

Create a cycle count

• Navigate to Inventory > Cycle count > Create new cycle count.
• Click on Site (if appropriate).
• Choose Find & Select Items and then use Find and/or the dropdown to locate identify the items for cycle count. You can also look as per custom fields that helps you in filtering more than one items at same time.
• Mark the desired item(s) and then choose Add Selected Items. This will display your cycle count form.
  • If one item is in multiple location, you will see a separate line for each bin location for that item.
  • Each cycle count supports up to 5000 tasks that means if the total items reaches more than 5000, you need to remove items until it is at or below the limit.
  • While creating the items, cycle counts will be divided into groups of 200 line items. If you choose 400 item+bin combo line items, two cycle counts will be created.
• Assign to a particular warehouse person if desired.

Start a cycle count

If you are using a mobile inventory device:

• Click on Sent to device. You will see a message that the count has been created successfully.
• The warehouse executive will identify the item and bin all lines and will also scan the item, continuing until all items are counted.
• Click on Send to QuickBooks and you will see the counts on your dashboard. If the count is not updated, you need to refresh your QuickBooks Dashboard.

If you are using a paper process:

• Click on Send to Excel. You will see a message that the count has been created successfully.
• Print the report and the warehouse executive will identify the item and bin for all lines, counting and entering the sum on the form. NOTE: This part can also be performed through a tablet or other electronic device.
• Once the count finishes, you have to enter the count for all item/bin on the spreadsheet unless you use an electronic device.
• Navigate to the dashboard and click on Import from Excel. Perform on screen instructions and the dashboard will reflect your counts.
• You can enter the counts on your dashboard manually too and then click on Save.

Resolve discrepancies

QuickBooks automatically maintains your inventory count and keep you away from any possible count discrepancies.

• Choose Batch Actions from the dashboard and then click on Adjust Quantity/Value on Hand.
• A pop-up screen will occur. Just click on OK.
• This will open an adjustment window containing all identified discrepancies. Click on Save and Close to accept all changes.

Once you accept all adjustments, you will be redirected to the dashboard screen. There are no changes made to the dashboard by the adjustments. You can manually close the cycle count when you are done with the adjustments and there are no changes required.

Close a cycle count

When you close a cycle count, it means that the cycle count is completely done and there are no additional changes required.

• Go to the dashboard and choose the cycle count lines to close.
• Navigate to Batch Actions and then choose Mark as Closed.

FAQs

How do I make cycle counts disappear from the dashboard?

Cycle counts drop off the dashboard 30 days from the last update of cycle count.

What are the Batch Actions?

• Export to Excel – It creates a spreadsheet that you can print or use digitally for a count.
• Adjust Quantity/Value on Hand – It takes you to the adjustment window where you the adjustments can be reviewed or approved.
• Mark as Closed – It shows you are done with the cycle count. Once you are closed, you won’t be able to make additional modifications.

What do the different statuses mean?

• Open – It shows that a cycle count is processing.
• Pending review – This is a status that is shown automatically when the quantity counted, and QuickBooks inventory count have some discrepancies and the difference is not zero.
• Complete – This status is assigned when the quantity counted and QuickBooks count is exactly matches and the difference is zero.
• Closed – No additional work needed.

Reach Us For More Info

Reading this article should be helpful for you and you should have a clear idea about Cycle Count in Advance Inventory. This feature of QuickBooks can be very beneficial for you as it saves your time and efforts that you can use to work on other important things. However, there can be situations when you can face several issues when the inventory count and QuickBooks count doesn’t match, and you face some errors. In such situations, you can dial our toll-free QuickBooks Support Phone Number +1-866-701-7446 and get instant support for all your issues.