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Cycle Counting in GP
Posted on: January 9, 2024 | By: Page Wildridge | Microsoft Dynamics GP
In our latest GP blog, we discussed how to end 2023 right by flawlessly closing out your general ledger. While the year has come to a close, there are things you can do throughout this year to make next December easier. By cycle counting or continually counting your inventory throughout the year, you can maintain more accuracy in your records and avoid end of year stress.
Cycle counting your high runners ensures that you are on top of your most valuable products. You can choose to count part of your inventory on a daily basis, or count up each item a few times each year. Plus, you can do it all in GP! In this blog, we will discuss how to use GP to cycle count.
There are a few steps to cycle counting in GP:
1. Creating a Stock Count Schedule
To create a stock count schedule, navigate to “transactions”, then “inventory.” Finally, select “stock count schedule.” Afterwards, there are a few ways to go about making your schedule. You will have to utilize the “mass add” feature. Next, you need to decide how to select the items you want to include on the schedule. You can select between item class, ABC code, or next stock count date. To select by ABC code, navigate to “tools”, then “routines”, and then “inventory.” Finally, select “Item ABC Analysis”. If you want to select stock count date, navigate to “inventory” following the same steps as above. Then, select “stock calendar”, and assign the next count date by selecting “cards”, “inventory” and “count cycle assignment.”
2. Completely and Posting a Stock Count Entry
Once you have created the schedule, you will need to click the “start count” button to start the count. When you have activated this button, the inventory quantities will be recorded at that moment and saved. The continuing count will compare against these numbers. This will allow you to continue with your business activity while the count accumulates. To view the results, navigate to the “Stock Count Entry” screen.
In those few steps, you can ensure you remain on top of your inventory counting for the entire year! This is a great solution for your business to stay organized and on track throughout the year.
Next Steps
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