Dynamics NAV - Physical Inventory Overview
Learn all about physical inventory in Dynamics NAV with our video overview here.
Learn all about physical inventory
It’s important to know how much stock you actually have and not just what the system tells you. Incorrect data input could lead to you receiving a Sales Order for a product you thought you had, when there actually aren't any in stock. Therefore, conducting a physical inventory check is a key part of stock management for any company. Dynamics NAV makes it very easy to perform a check and correct errors, which you can start by opening the Physical Inventory Journal. Once opened, click the ‘Calculate Inventory’ button on the ribbon. You can apply filters to the journal so you can break up the report. Make sure you set the posting date to today’s date. Click ‘OK’ and Dynamics NAV will produce a list of all the items in your inventory.
This can be printed into a report to give you a record as the stock count is taking place. You can apply ‘Show Quantity Calculated’ and ‘Show Serial/Lot Numbers’ here if you want to. Click ‘Preview’ to check the report. Once you are happy, press ‘Print’ and you will see that the report can also be exported as a PDF, Word document or an Excel spreadsheet. When the stock has been counted, you simply have to input the physical amount of stock into the ‘Quantity Physical Inventory’ column. Dynamics NAV will calculate the difference between the amounts, calculate the costs and create the adjustments. Now you can post the journal and your inventory will be up to date.