Inventory Count Report

📁 Accessing the Report

Navigation:
Tools > Reports > Inventory > Inventory Count Report

📌 Key Definitions

• Recorded Count:
  The expected quantity of an item, as calculated by the system.

• Actual Count:
  The item quantity physically counted and entered by an employee.

• Variance:
  The difference between the recorded count and the actual count.

  • Positive variance: actual count is higher.
  • Negative variance: actual count is lower.

• Variance %:
  Calculated as:
  = (Variance / Recorded Count) * 100

• Recorded Value on Hand:
  Value based on average item cost × recorded count.

• Actual Value on Hand:
  Value based on average item cost × actual count.

• Variance in Value:
  Difference in value between recorded and actual, calculated using average item cost.

• % Variance in Value:
  Calculated as:
  = (Variance in Value / Recorded Value on Hand) * 100

• Threshold Exceeded:
  Indicates whether the item has a notable variance. If exceeded, "value" is displayed.

• Reason:
  The documented reason explaining the variance.

📈 Report Insights

• Compare recorded vs. actual product counts and values.
• Identify and analyze inventory variances.
• View variance percentages and values for each item.
• Understand reasons for discrepancies.
• Use the summary page for totals across all counted items.

✅ Benefits

• Maintain accurate inventory records.
• Identify shrinkage, errors, or process gaps.
• Track and resolve discrepancies efficiently.