IBM Maximo Asset Management, Version 7.6

Adjust Physical Count action

When you select Physical Count Adjustment from the Select Action menu, a physical count adjustment transaction (PCOUNTADJ) is written to the inventory transactions table.

The physical count is typically a number you adjust at predefined intervals, such as monthly, quarterly, or annually. For each storeroom that carries an item, you can view the bin number, lot number, and the physical count that is currently reported.

After you perform an inventory count, you can adjust the physical count for any storeroom and enter the count date. You can then reconcile the balance to the current count.

To adjust the physical count of an item, complete the following steps:
  1. From the List tab of the Inventory application, display the item you want.
  2. From the Select Action menu, select Inventory Adjustments > Physical Count. The Physical Count Adjustment window opens, with item name location, and count information.
  3. In the Count Date field, enter the date when you took the physical count or click Select Date and Time to retrieve the date. If you use the Physical Count Date field in the header section, the date for all rows in the table window is changed. If you do not want to adjust the count date for all rows, edit the Count Date field for each row you want to change.
  4. Click Refresh to update the count dates in the table window.
  5. For each bin that you want to adjust, enter a new physical count value in the New Count field.
  6. Click OK. The Physical Count Adjustment window closes. The new physical count is saved for each storeroom and a record is written, TRANSTYPE = PCOUNTADJ, to the INVTRANS table.

Example

Adjust the physical count of a bearing, currently in inventory at last, standard, and average cost of $22.00. The physical count is shown as 4, but the new physical count is 2.

Table 1. Source of GL account for adjust physical count transaction
Source GL account Debit Credit Source of GL account
Shrinkage cost account (-2) x $22.00 = -$44.00 (-2) x $22.00 = -$44.00 Shrinkage cost account

Adjusting the physical count has no net effect accounts in the general ledger. The net effect occurs only when you complete the reconcile balances process.

Inventory transaction for Type=PCOUNTADJ

A physical count adjustment writes a transaction to the INVTRANS table, and is shown in the Inventory Transactions application. Since the transaction uses the same account for the debit side and the credit side, the transaction has no net effect on the general ledger.

Displayed fields

GL Debit Account (GLDEBITACCT) Defaults to GL Shrinkage Account field (not displayed) in the Inventory application Defaults to Shrinkage Cost Account field on the Inventory-Related Accounts window in the Chart of Accounts application.

GL Debit Account (GLCREDITACCT) Defaults to GL Shrinkage Account field (not displayed) in the Inventory application Defaults to Shrinkage Cost Account field on the Inventory-Related Accounts window in the Chart of Accounts application.

Database fields

INVTRANS.GLDEBITACCT Defaults to INVCOST.SHRINKAGEACC Defaults to LOCATIONS.SHRINKAGEACC

INVTRANS.GLCREDITACCT Defaults to INVCOST.SHRINKAGEACC Defaults to LOCATIONS.SHRINKAGEACC
Parent topic: Financial processes in the Inventory application

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