physical inventory process - rics software · physical inventory process this document serves as an...

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PHYSICAL INVENTORY PROCESS This document serves as an instructional guide for performing physical inventory and uploading results into RICS.

BEFORE YOU BEGIN A high speed internet connection is required for each computer used to scan inventory. It is critical that you conduct a year end physical inventory to make the appropriate on-hand adjustments to all the products that were damaged, stolen, used as displays, or entered incorrectly during the season. Inaccurate counts could potentially cost you thousands of dollars. Therefore, do your best to ensure the on-hands in RICS are accurate.

Have these items on hand for your physical inventory process:

Rolling cart or shopping carts to roll product to your computers doing the scanning

Boxes

Labels (to re-label product missing barcodes or not scanning properly)

Power Strip & Extension Cord Also perform the following:

Straighten the store

Combine merchandise that was displayed in several different places to one general area

Reprint missing labels on merchandise

Repackage damaged product

CLEAR PHYSICAL COUNTS

1. Navigate to the store you are counting. Then proceed to Inventory :: Physical Inventory :: View Physical Counts to verify the physical count file is empty before proceeding.


2. From the resulting Report History page, click the Physical Inventory Counts Report.

3. The report should display No inventory returned for selected criteria.

If the report shows counts, contact RICS Product Consulting at 800-654-3123, Option 1 to clear these counts before starting the year end physical inventory.


UPLOAD PHYSICAL INVENTORY If using a Portable Data Reader (PDR) to perform inventory, use these steps to upload inventory into RICS. If not using a reader, proceed to the section below on Enter Physical Inventory Counts.

1. After you have scanned all inventory with your PDR, navigate to Inventory :: Physical Inventory :: Upload Physical Inventory.

2. Read the warning message and scroll to the bottom of the page.

3. Select appropriate Reader Type from the drop-down reader menu.


4. Click Get Data from Reader. 5. Save the inventory file locally.

6. RICS will process the inventory file from the reader.

7. Navigate to the Report History page and view the UPC Not Found Report.

8. After you have identified the items on the report, proceed to Enter Physical Inventory Counts below to include the items from the report into your physical counts.


ENTER PHYSICAL COUNTS Use these instructions to count inventory without a PDR.

1. Navigate to the Store you are counting. (Enter Store Number in top left hand corner).

2. Navigate to Inventory :: Physical Inventory :: Enter Physical Counts. 3. Read the warning message and scroll to the bottom of the page.

4. Click on the Scanning tab to the right of the General tab. The cursor will automatically be active in the UPC field. The

default for the Enter by field is UPC. We highly recommend scanning each item separately because it leaves little room for error.

5. You could also scan one item, count the total additional items and enter the total. However, this is where most mistakes are made. It is very easy to type in the wrong number or add digits.


6. Scan your first item. The SKU, Qty, Cost, Price, and Description will be displayed. The active item is always the last item scanned. This active item will be displayed in the Enter by UPC field until you scan the next item.

The Qty can be modified before you scan the next item. When you scan the next item, it will automatically put the previous item scanned down below.

7. The section below will display the SKUs that have been scanned and added. The most recently scanned items are in

order from top to bottom. If scanning multiple quantities of the same SKU, it will increment the existing Qty for the line item. NOTE: Remember to click Save after scanning 20- 30 items. If an item does not scan, you can change to SKU and enter the item number. It is recommended to re-print a new label instead, so this item will scan next season when you sell the item.

8. If the item does not have a UPC barcode, click on SKU in the Enter by field. 9. Type the SKU number under SKU or click on the icon which will bring up the LookUp Tool. You can look up SKUs by

SKU, Description, Color, Supplier, Class, Custom Entry, or use % as a wildcard character in any of the fields.


10. Once you find the desired SKU, click Select.

11. The cursor will then be under the SKU number. Enter the QTY to receive for the active SKU and click Add. This will

add the SKU and Qty to the list below. Continue this process for all items that do not have a UPC barcode to scan. NOTE: Manually entered SKUs should have a label generated and printed after inventory.


12. Click on UPC to scan another item. You can toggle back and forth between SKU and UPC when needed. Continue this process until you are done scanning and/or entering your UPCs and SKUs for this physical inventory. NOTE: Remember to click Save often.

13. To modify a SKU, click the icon for the SKU line item. When selected, the SKU information will display on the screen under the Enter by field. Once the change has been made, click Edit. This will make the change and clear the Enter by fields. If you have clicked on the pencil icon to edit a SKU but decide a change is not needed, click Clear. This will also clear the Enter by fields.

14. To remove an existing SKU from the screen, click on the icon for that SKU line.

15. Click Yes on the Alert Center notification to delete the SKU.


16. When the last group of items have been scanned or entered for this physical inventory, click Save. This will save all items displayed on the screen and put them directly into the physical inventory count.

ITEMS NOT COUNTED REPORT Next print the Items Not Counted Report to verify the items not counted were not accidently missed.

NOTE: The below steps should be processed by the Store Owner to ensure the counts being updated are accurate and correct.

1. Navigate to Inventory :: Physical Inventory :: Items Not Counted Report. 2. If you are taking an inventory on all products within your store, click Clear Filters. 3. After filters have been cleared, Click Add Job and Run.


ENTERING ZERO COUNTS (Store Owner ONLY)

CRITICAL: Make sure all items have been scanned before continuing this process. Once all items have been verified as scanned and the total counted is correct, perform the following steps.

This process could completely zero all on-hand value if processed incorrectly or selecting the wrong store number. Verify you have navigated to the proper store before processing.

1. Navigate to Inventory :: Physical Inventory :: Enter Zero Counts. This process will enter a 0 (zero) count for everything you didn’t enter a physical count into RICS. Be sure you have counted all items in your store before processing.

2. If you have counted everything in your store. You will leave this entire screen clear. Again, this process will enter a 0 count for everything you didn’t count.

NOTE: Make absolutely sure you have navigated to the correct store (store shown in top left hand corner of page) before proceeding.


3. Click Add Zero Counts button at the bottom of the screen.

PRINT THE VARIANCE REPORT

(Store Owners Only)

NOTE: The below steps should be processed by the Store Owner to ensure the counts being updated are accurate and correct.

1. Navigate to Inventory :: Physical Inventory :: Variance Items Report.

2. Leave all criteria blank to ensure visibility for all items scanned.


3. Click Add Job and Run.

4. This will bring you to the Report History screen. Select the Variance Report.

5. Review the report to ensure the counts are correct.


UPDATE INVENTORY 1. Navigate to Inventory :: Physical inventory :: Update inventory.

2. Read the warning message and scroll to the bottom of the page. 3. Review the three Have You? Questions. Check the boxes if you have completed the items.

Note: All 3 steps must be complete in order to accurately update your inventory. 4. Click Commit Physical Inventory.

5. Click Yes on the Alert Center message to confirm the inventory updates.


6. While RICS is updating the inventory, the following message will be displayed.

7. When complete, the following message will be displayed. Click OK.

SALES ANALYSIS REPORT

Run the Sales Analysis Report as an optional step. This report can be used to verify that the on-hands have been updated properly.

1. Navigate to Reporting :: Sales :: Sales Analysis. 2. Report Criteria:

Select Supplier in the drop-down menu next to: What to analyze by?

Select Supplier Summary in the drop-down menu next to: What type of report do you want to run?

Select Average Cost in the list next to Value Inventory At under: How to value on-hand inventory?

Report Column 1 and 2 for the Sales period should both have a checkmark next to None.


3. Click Add Job and Run.

4. This will run this report and bring you to the Report History page. Click on Sales Analysis Report to view the results.

physical inventory process - rics software · physical inventory process this document serves as an...

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