Copy Signed Adjustment with airSlate SignNow

Fax signed adjustment

hello and welcome to today's webinar on the inventory adjustment processes and the inventory cycle counting processes today we will cover the inventory adjustment processes the inventory cycle count process count journals and how they're used we will do counting inventory using your RF scanners will then discuss how to resolve count variances and then we will finalize our inventory cycle counts so we're going to start today by discussing the inventory adjustment process the inventory adjustment process starts at delivery so the delivery arrives at your agency you need to make sure that you receive the order in full in the system with the truck driver present if there are no issues with the order both you and the truck driver will sign off on the paperwork and everything is good but if there are issues with the order once you have completely received it into the system with the driver present you will then use your RF scanner to transfer the shortage items or the damaged items to quarantine you'll print two copies of the inventory adjustment form from the enterprise portal you and the driver will sign both you'll keep a copy the driver will keep a copy and this will complete your process for short shipments as we said your transfer orders have to be received in full with the truck driver present and this includes short shift or damaged items so you're going to receive the order in full you're going to note any short shipped items on the carrier's paperwork you will then transfer the items into quarantine using your RF scanner while the truck driver is still there you need to remember when you transfer to quarantine for short shipped products the entire case is missing so make sure that when you transfer the product you transfer the full case worth quantity so if you're doing it in bottles it needs to be the total amount of bottles in that case not just one once you're done you then will print the inventory adjustment form from the enterprise portal you and the driver will both sign it and you will each keep a signed copy now should the truck driver leave before you have been able to receive in the transfer order completely you need to contact the le SC right away and let them know because a couple things happen whenever there's a shortage upon receipt there's some investigations done the first thing they're going to look at is they're gonna look back at the distribution center and see if by chance the missing cases were left on the dock that's the first place they look the next place they're going to look is see if by chance those missing cases were left on the truck because there were multiple orders on the on the truck gee did they leave the cases on the truck now one final thing they'll do is the next time your auditor is in they will cycle count that item and they will see if you're over on the item that may be the missing cases right there but if the cases are not found at the distribution center not found on the truck and not found in your agency and you have not contacted the le SC to let them know that the truck driver left before you could complete the receipt in the system you may get charged for the product so you need to cover yourself and call the le SC immediately if the truck driver does not stay for you to completely receive in the delivery now damages depending on how the product was damaged they're handled a little bit differently now damages notice during receiving time are handled very similarly to a shortage you're going to receive the damaged product in fold using the RF scanner so you receive that hold transfer order in in full you're going to note the damages on the carrier's paperwork and you're going to transfer the product to quarantine using your RF scanner and then you're going to print out the inventory adjustment form with the driver there and you will both sign off on it now in the case of damages you only need to transfer the actual damaged bottles into quarantine you don't have to transfer the entire case unless the entire case was damaged now what happens or how do you handle if damages aren't noticed until afterwards so let's say three weeks after you received the order your restocking shelves you open up a case and you notice damaged at that time you need to go ahead and transfer those damages to quarantine using your RF scanner and you're just going to make a notation on the inventory adjustment form for your auditor to indicate that it was concealed damaged and you didn't notice it until like three weeks later when your a restocking the shelves now damage or loss by an agency and this would be if you were one of your employees actually damages breaks a bottle that's in a little bit differently and it's actually handled through the cycle counting process that we'll discuss in a little bit so for example if you have 40 bottles of an item and you had an employee break two of them when you went to do the cycle count on that item you're only going to count good inventory you're not going to count damaged inventory so you would only enter your cycle count quantity as thirty-eight bottles that would take the two damaged bottles out of inventory when you finalized that count and posted the journal because you're not doing a transfer to quarantine you do not have an inventory adjustment form and one is not created now damage lost by a customer is handled more similarly to damage upon receipt so if a customer is responsible for loss or damage you're going to do a transfer to quarantine on the RF scanner print out the inventory adjustment form have the customer sign off on it and you're going to have that form there available for the auditor when they come in if your customer doesn't stay or refuses to sign the form just make that notation on the inventory adjustment form for the auditor now overages overages are defined as items that show up at delivery time that you didn't order or it's not marked as shipped on the transfer order in that case you need to refuse that product refuse it back to the driver but you want to make sure that you have documented that you have refused the product so in that case this is the only time it's acceptable to use the carrier OS and D form and you're going to do this prior to the driver leaving he will have an OSD form to fill out you document the tio number the item code the quantity both you and the driver sign off on it and you refuse the cases back to the driver do not refuse cases and not have it documented on an OS and D form there's no type of transfer to do there's no inventory adjustment form because you've done nothing in the system so now we're going to go ahead and move on to the inventory cycle count process the inventory cycle count process starts by creating account journal in the enterprise portal in order to do cycle counts you have to create a count journal first in the enterprise portal and you'll see that that's the first thing when you actually go in to do the counts on the RF scanner first thing that's going to ask you for is the count journal so you have to create that count journal first the enterprise portal then you will actually do counts using your RF scanner and we'll show you how you can count product in the front on your shelves and bottles and actually count inventory in your back in your stockroom in cases and the system will keep track of it and add it together for you once you've done your initial counts you're gonna have variances and you may decide that through doing investigation you found some missing bottles or G you're not really over on the item but you have a need to change some of the counts we'll show you how to modify your counts using the RF scanner and this changes the total counted in the system then once you're done with all of that to complete the inventory complete the cycle count you actually have to post the count journal you're not done until you post the count journal and you need to make sure that you do it that same day actually as soon as you complete your counting and rectify any of your variances you're going to want to post that count journal the final thing is you'll run the inventory audit report and that will be for your to keep for your auditor and it is a record of everything that you counted and what your results were so the guidelines around doing inventory cycle counting first of all agency inventories have to be counted every 30 days or and/or every calendar month now all of your inventory doesn't have to be counted at the same time that's what a cycle count is a cycle count is a means of dividing up your inventory into more manageable chunks so it's not as much of a disruption to your business so you'll count certain items on a particular day or you'll have a list of items that you're going to count this week another list the next week couple rules though to keep in mind first of all your previous day's sales must have Swilly posted before you can start cycle counting so you need to run your daily sales report to make sure that the previous day's sales have posted the second thing is no sales can be occurring on the items that you are accounting until you post the count journal and finalize this really comes into play when you're trying to rectify any variances that you have so let's say I do an initial count and I noticed that I'm off on an item but I've been selling the product off the shelf in the mean time when I go back to do recounts I'm gonna be off because product has been sold already so you need to make sure that no sales are occurring on the items that you are counting while you are accounting them until you post the count Journal once you have posted the journal you are free to go ahead and resume sales on those items you also need to make sure before you start that all products are received in the system anything you have inventory on hand in house you need to make sure that you have received that product in the system so if you had a pending agency the agency transfer come in make sure you've completed it and received it in the system so inventory can be counted in multiple ways you can count by specific individual products you can count by product categories you may organize your cycle counts and organize your plan by product categories or you can decide to count everything all at once some smaller agencies are saying this is a good plan for them that you know once a month on a Sunday they're just going to count everything and that is acceptable we're just offering cycle counting as a means to not have this be as much of a disruption to your business so all inventory of a specific item on hand has to be counted on the same count journal on the same day so that means if I count bottles in the front on the shelves if I have any of that product in inventory anywhere else in my store whether it be in the back storage area behind the counter on a display I need to make sure all of that product gets counted that same day on that same counter kn'l so the best cycle counting programs have a plan first of all decide which day of the week and time is best for you for counting the state is not going to specify that you must do your counts on Wednesdays you decide what works best for you and use that as your plan you're going to want to plan out which items you're going to count every week so that at the end of the 30 days or the calendar month you've covered all of the items that you have at your agency so I know some agencies actually have a monthly plan that they designate in week one here are the items I am counting week two here are the items I'm counting and they do that so that at the end of the calendar month they have hit every item and counted it at least once something to keep in mind is that your inventory levels are typically the lowest the day before your weekly replenishment order is deliver to you and received so you might want to consider doing counts on that day because you'd have the least amount of inventory to count conversely you don't want to do a cycle count on the count on the day that your replenishment order is being received so let's talk about count journals they're used to conduct a physical inventory a cycle count and think of them as an electronic document for capturing all of the counts that you're doing this is the first thing that you're going to do to kick off your counts and you create them in the enterprise portal now when you create the count journal you do not need to add items to to the journal manually at that time in fact we recommend that you don't the first time that you actually complete account using your RF scanner that will automatically add it to the journal for you so if you do add an item on the enterprise portal it forces you to count that item this gives you a lot more flexibility so just do not add items manually into the count journal okay so now we're going to go into our first demonstration and we're going to come on the enterprise portal and under the retail tab we're going to come in the area called Scouts now some people have asked can I have multiple count journals out there yes you can but there is a danger to doing that you need to make sure that you choose a counter kn'l and you stick with it for the counts for that particular day if you have multiple count journals out there you run the danger and you run the risk of putting some counts in one journal and some counts in another so you need to be very careful so to create a new count journal you're gonna click the little yellow Sun up here on the Left called new stock count and when it comes to the description page here you can leave it blank and I'll show you on the next screen with the system will auto default in or you can put a description in there so you may want to put vodkas March 2nd 2018 so I know that those are the vodkas that I counted on March 2nd of 2018 if you choose not to put a description in just click the continue button and you're now going to get this screen that defaults in the words agency count in your user ID number this is the section down here where we're saying do not add the items in so to create my count journal all I'm going to do at this point is save and close and you're going to see that my count journal popped up on the I'm here and that's all it takes to create account Journal so moving on let's now talk about how you do the actual counts your counts are going to be done using your RF scanner and we said your entire inventory at your agency has to be counted every 30 days or calendar month and cycle counting as a means to spread this out over the period so you don't have to do it all at once although a full physical inventory is also an option you need to make sure that all inventory for a specific item has to be counted on the same count journal on the same day so you can actually count the bottles that you have in shelves you can count them up in bottles then you can go back to your storage room count what's back there in cases and the system will add them those together for you you don't have to move back and forth counting bottles of an item in the front and run in the back and then count the cases you can count any of the items you're going to count up front enter all those then go in the back enter what's in the back in cases and I'll show you how you change between case count and bottle counts on your RF scanners but once again make sure there's no sales activity occurring on the items you are counted counting until you finalize and post the count journal so once you complete your counts and you finalize and post that count journal then you are free to resume sales on those items so now let's get into actually doing counts on the RF scanner okay so I'm going to start by logging in and I'll put in my password so when I come into the first screen here I'm going to use the option number six case bottle count and you can see here now it's asking me for my journal ID if I press f1 on my RF scanner it shows me all of my open journals I'm going to use Journal 347 for my counts today if you get prompted for the warehouse this is your five digit agency number just enter it and now you're off and running so what it wants you to do is you tell me what you're counting I'm going to say that I'm starting in the front I'm gonna scan the first barcode of the first item I want to count so I'm scanning the barcode if you get prompted for a location you're going to put sss as in sam or your stock location you are only counting good inventory you are not counting your quarantine so now it comes in two and in this case i am counting bottles in the front so we're going to do my first item and we're going to count some bottles in the front and i'm gonna say i found nine now i can move on to my next item and I can say I counted five bottles of that got that and I'm gonna count so let's say that's all that I'm going to count you notice when I first came in here it said my current unit of measure was bottle moat so every time I come into case bottle count it automatically defaults me into bottle mode but I'm done counting the bottles up front I'd like to start counting cases and back so it tells me to f6 to change my unit of measure on your RF scanners you're not going to see a button that says f6 but to do an f6 you press the orange key that's on the left side of the keypad once that will light up the yellow button on the bottom of your RF scanner you then press the e key once and then you press the orange key one more time and the yellow light will come off what will happen is you will see that this current unit of measure bottle bottle mode will change and it will say current unit of measure case mode so now let's say I finished counting everything up front now I'm in the back and I'm in the stockroom and I want to count what I have an inventory back there so let's scan the first item so that was the first item I counted in front but now I'm in case mode and it actually tells me how many bottles are in the case so let's say I'm going to count to two cases this time so now I'm going to count my next item I'll say you only had one case of that and let's count one more item in the back and on this one I'm going to count to back there so at this point I'm going to say I did my initial counts these were the only items I'm counting today and I'm done doing my initial counts so we're going to go back and we're going to see how do we move on what do we do next so now we want to know we've done our initial counts and you could see when we did our counts that there was no answer given to the counter he wasn't told how many cases or how many bottles of an item are on hand in the system he was told to go out there and count and tell us what he found that's something called a blind count so now we have the opportunity we're going to say we did our initial counts we looked everywhere we knew in our agency product was we're going to take all the counts we entered and we want to see how they compare to what shows us on hand in the system so as we did those counts the count journal got populated and what we're going to do next is we're going to go back into that count journal we're going to take a look and it will show us the items we counted what the on-hand inventory was for each of those items and it still is because we haven't changed anything yet and what we actually counted it'll then show us if we have a variance so are we over are we under are we right on the money on the item so depending on what the variance is we may have some additional work to do first of all if there's product missing so if there's product missing we want to try and find it the first thing is you want to investigate are there any other additional storage areas in your agency where that product could be so let's say one of your best customers is coming in at 4:00 p.m. today and he wants to balance a Jim Beam and you put those two bottles of Jim Beam behind the counter so that they were there you didn't sell them you had the product when he showed up but you forgot that you have those bottles behind the shelves so that may be an area that you look at for missing bottles do you have anything sort of pulled out for a customer and just put behind the shelves for quick access when they come in another area to consider our product displays so very often vendors will come in they'll create and a vial displays there's probably a lot going on for st. Patrick's Day so tender comes in uses inventory to create this end of item display the product on those displays is actually part of your on-hand inventory so if any of that product is one of the items that you're counting that particular day you need to make sure you count any inventory on that display the third area to consider for those of you our wholesalers are your open wholesale orders so unless you have started picking an order so let's say you have a large wholesale customer gives you the order on Monday not going to pick it up until Thursday but you're doing your cycle counts on Wednesday it's a big order you started picking it already and staging it in your back stockroom if you do not use the picking process in the system on the wholesale terminal and remember the picking process is a two-step process what it does is you have to create a pick list on the wholesale terminal and then either pick using your RF scanner or mark it as picked in the wholesale terminal doing that picking process on the wholesale terminal actually removes it from inventory but if you are not using the picking process on the wholesale terminal and we did say that was optional and you have not invoiced the order yet if you have physically picked the product in its sitting staged in the back of your agency that product is on hand and you need to count it as part of the inventory if any of those items are on those wholesale orders so you will want to reference your pending wholesale report to know if you have any of the products on there so you also need to investigate overages because you guys aren't making the product so an overage is not necessarily a good thing a couple things to consider you could have an overage by scanning the wrong item so let's say you were counting product on the shelves you scan one barcode but actually counted the product next to it that would be one way you could have an overage also be careful when you enter the inventory in your back stockroom I showed you how to do it using case mode if you use bottle mode you want to make sure that you're entering the right case count so let's say that I had left myself in bottle mode to go in the back to count my product and I entered my item zero zero zero seven B and I'm like oh I know this is 12 4 K so I enter a 12 well it's really 6 per case so I've just created an overage of 6 bottles by doing that entry the other thing to consider too is the cases that you have in the back in storage may not be full you may have started restocking your shelves and everything wouldn't fit out there so you start restocking the shelves but gee I have three bottles that won't fit I left them in the case because that's going to protect them and storage in the back but when I go to do my accounts I need to realize that that case is not full so I would not want to count that as a full case I'd want to count it as the actual bottles that are in there so once I've done my investigation I've gone out I figured out where the missing product was and I figured out where how my overages are I need to change some of my counts in the system and you can do this by using the modified count option on the RF scanner what modify count duck it replaces the count completely for that particular item it doesn't add to anything that you have it replaces the count for that item so as an example here we went through we did our initial counts for item 19 be on hand said I should have 18 my initial counts I only had 15 so I was short three bottles well I went and did investigation and sure enough I had two bottles of this behind the counter for a customer coming in later that day so I need to change my total count on this item from 15 to 17 so I'm going to use the modify count option on my RF scanner and I'm going to enter a total of 17 models and when I go back into the enterprise portal then I can see that my counted quantity has changed and now my variance is only one bottle okay so we're going to start by first of all we're going to go into the enterprise portal and we're going to go into my count journal 347 and this is everything that I counted so I actually didn't do too bad my item 7b I'm over to item 12 B I'm over 1 and I actually have two items that I'm right on the money on so I'm doing doing really well well I'm gonna go out I'm gonna look at some investigation and now I'm really not over to on 7b I'm actually account is not 21 the count is 18 I'm actually short a model and on 12b where I was over 1 I found an additional bottle and so my count should be 12 so I'm going to go out I've done my investigation but now I need to change those counts so I'm going to close out of the journal come back into my RF scanner and now I'm going to use option number 8 modify count once again it asks me for my journal ID and because I have multiple journals out here it's may very important that I choose the right one I'm using journal 347 so the first thing it's going to ask before is the item code so the first item I want to do a recount on was item 7b and when I did my recounts there's really 18 bottles out there and the second item I'm going to recount there's really twelve bottles out there so I'm going to come out of this come back to my main menu and when I'm going to show you now I'm going to go back into the count journal and you're going to see that the numbers have changed so now I'm one short on this and I'm to over on this item and the other items I didn't touch so the counts didn't change one final thing though before I finalize my count I want to zero count some items so let's say I had a couple items that were on my list account today and when I went to do the counts I just didn't find anything there wasn't anything out there so what I want to do is I want to enter them as a zero count so this is the only time that you're going to come in here and use the add item you're not going to use add items you're going to use the new button and you will add the items to the camp so I'm gonna start with my item zero zero 59 B and when I enter it it tells me I should have had 6 on hand but I counted 0 and I'm gonna click the Save button and that is done and at this point if there's anything else that I needed to count I would have added it in at this point I'm done with my counts though so I am going to submit to complete my counts and I'm going to move on and I only click the submit after I've added my 0 count items and I will do that at the very end ok so we're almost done but we're not quite done you're not done with your cycle count until you post the count journal so what posting the count journal will do is it will update the inventory to the counted quantities for each of the products but once you post a count journal you cannot make any more changes you'll see that the count journal actually disappears from your screen so there's no way to get back into it um people ask well what happens if I did a count I was two bottles short I post the count journal and 5 minutes later I locate those two bottles in that case what you need to do is just create a new count journal for just that one item you'll create a count journal do the RF scanner put the total new total correct amount in and post the count journal and that new post account journal will replace the other one so once you post a count journal your on-hand inventory quantities will get updated your variances will get moved in the system to the quarantine warehouse and the auditors will reconcile those so final step let's go into posting account journal we're going to come back in we're gonna go into our journal we have everything completed in here and so now all I need to do is click the post button and you will see that it's loading I come back journal 347 has disappeared from my screen there's no way that I could make a change if I wanted to so let's talk about some of the inventory reports there's a couple inventory reports that are directly affected by doing cycle counts the first is the inventory audit report and this report is going to display all your counts that were entered from the RF scanner it also displays the items that I 0 quantity excuse me a zero counted and once the journal is posted its displays all the counts and variances this report can also be run once you have done your initial counts and you have variances out there a recent enhancement will allow you to go ahead and run that report and use that as a tool as you're working on resolving variances so you can run it prior to posting the agency inventory report then is a snapshot of your current inventory at the time that the report is run that report gets updated anytime you complete and finalize a receipt and any time you post a count journal so we will take a look at some of the items that we counted and we'll see that they have changed on that report ok so we're going to go back to the enterprise portal for our reports the first one is the inventory audit report and when you run the inventory audit report you run it by journal and here's my journal 347 that we just used I select it and I view the report now at the top here you can see where it says variance with a check box if I had clicked this box here it only would have displayed those items that had variances so it would not display the items that I was dead on the money here when I run this report and save it for the auditors you want to run it wide open because this becomes my record that I am cycle counting this is a record of what I've actually done I want to get credit for having counted items that I was right on but it shows me those items that have variances as well and I can see it shows me the item that had a zero count so this is really the record of that particular cycle count of everything I did the other report to take a look at is the agency inventory report and if we look at a couple items here we had some items that we change some inventories on so we're going to take a look at 7b we actually change the inventory to eighteen twelve B we change the inventory to twelve and we're also going to take a look at 59 B which we zero counted so we want to take a look at the items in particular we're going to look at the ones that have changes to them it's the agency inventory report this report auto runs for you so you click on the report and it's going to run and it's going to show me everything at my agency now a couple things to note with this report now first of all let's look at the items we changed so item 7b when we started we have 19 on-hand but we only counted 18 when we posted the count journal that 18 now shows up on my agency inventory report item 12 B we counted 12 and that now shows an item 59 B shows here with the zero count now what shows up on this report is any item that you have on-hand inventory and or you have a minimum set so on item 59 bi0 counted that item if this had had a zero on it the item 59 B would have disappeared from this report completely but because there was a minimum on the item of four even though I zero counted and there's no inventory on hand anymore it still shows up on the report so at this point this ends the webinar on inventory adjustment processes and the inventory cycle count process if you have questions or issues as you're doing cycle counting or inventory adjustments please contact the L ESC and they can give you assistance on any of the issues that you may have thank you very much for joining today's webinar take care