physical inventory procedure

[Former Member]

Hi

i want to do physical inventory every month ..any one could explain the procedure for physical inventory

regards

sesidhar

[Former Member · Accepted solution]

Hi,

During the Physical Inventory process all the Stocks of Material are Physically Counted. The steps are as below.

1.Create Physical Inventory Document (MI01)

This includes creating a physical inventory document, blocking materials for posting, as well as printing and distributing the physical inventory document.

2.Enter Physical Inventory Count (MI04)

This transaction is used to enter the physical inventory count wherein results of the actual warehouse stock are entered.

3.Post Inventory Differences (MI07)

Based on the physical Inventory count the differences are posted and the stock is corrected. Product Gain / Loss are posted to the relevant Accounts.

Regards,

Vijay

[Former Member · Accepted solution]

Hi vijay

thanku

i have post the physical inv doc with MI07....material document has generated ...

now i want to cancel this document ..how it is possible...?

regards

sesidhar

[raghavendra_praveen · Accepted solution]

Hi

You cannot cancel the material documents posted through either sales or physical inventory process as these are automatic postings.

You need to do the process again from starting (MI01, MI04, MI07) by entering the original figures against the wrong entries (which you did in first counting). Alternatively try to use MI10.

Thanks