When the inventory count is submitted, your store's inventory records are updated and including cost figures. After an inventory count is created, click Start Count on the record to begin the process. So that they can be individually tracked as part of the counting process. That allow for real-time updating of the inventory count. The Inventory subtab shows count data, including the last count date and next count date.
Creating an “Inventory count” :
Navigate for Inventory count: Goto > Transaction > Inventory > Inventory count.
- Adjustment Account: This is an account to post inventory count variances to. This is generally an expense account.
Naigate for Account creation: Go to > List > Accounting > Account > New.
- You should schedule already for the inventory count. This is to be able to utilize the full functionality of NetSuite.
- While we are doing the configuration sessions, definitely there are some transactions that happened already.
Navigate for Configuration Transaction: Go to Setup > Accounting > Accounting Preferences > Order Management > Fulfillment > Fulfill Based on Commitment and set the value to Ignore Commitment.
NetSuite all Sales Order, Item Fulfillment, and Invoice. You will notice that NetSuite will allow you to enter fulfillments even if you have zero quantity this is because of Ignore Commitment setup. This would result to negative inventory in NetSuite.
Navigate for Current Inventory status: Go to Reports > Inventory / Items > Current Inventory Status and generate the report. The date of the report should be day before the physical count.
Items are displayed in line level “Inventory Count” :
In “One World Account”: Items are displayed based on “Subsidiary” field.
In “Non One World Account”: Items are displayed “Location” field.