Inventory Audit Reports - what do the columns mean?


After you have finished scanning all the frames which are available for sale in your store, you will click on the "DONE" button at the bottom right of your window.  This will open a new window which will display the results of your inventory audit.

Rather than simply click on "Adjust all Selected Items" we recommend you take the time to understand the results of your inventory audit.  The Inventory Audit will help you determine whether certain frames have gone missing, or if users are receiving new inventory properly.

If this is your very first inventory audit, you will likely have a very high margin of discrepancy.  To help you fix all of this very quickly you simply "Select all OK" + "Select all discrepancies" and then "Adjust all selected items".

If this is not your first (or perhaps second) inventory audit, assuming a low rate of fraud, your audit report should reveal a margin of error of no more than 1-2% of the total number of frames in your store (no more than 10-20 discrepencies in a store of 1000 frames).  If this is the case, then we recommend you select and right click on each individual row in the report to better understand the cause of the error, before rectifying it.  Upon right-clicking on those rows you will be able to (i) view product history, (ii) view barcode history or (iii) perform an inventory adjustment.



Understanding "View Product History"

  1. Right click on a row on the report and click on View Product History.
  2. Sort the data by date by clicking on the Date column header
  3. Now you can see when and why the quantity of this product increased by 1, decreased by 1, or was set to zero.

Understanding "View Barcode History"

  1. Right click on a row on the report and click on Adjust Barcodes
  2. In this window you can see the history of the barcode including:
    1. Which Action created the barcode
      1. If blank, then it was created by a "Reprint barcodes" action.
      2. Otherwise the barcode was created during an  (i) Inventory Opening Balance, (ii) Refund to customer, (iii) Inventory Adjustment, (iv) Receive product from supplier.
    2. Which Action last used (consumed) the barcode
      1. If blank, then the barcode should still be on a frame available for sale, in your store.
      2. Otherwise the results there can show (i) disabled, (ii) refunded to customer, (iii) inventory adjustment or (iv) receive product from supplier.

Understanding "Perform Inventory Adjustment"

  1. Right click on a row on the report and click on "Adjust Inventory"
  2. In this window you can manually adjust the inventory up or down.  Doing this can be very long if you do it for each individual item.  For that reason you have the ability of doing this for multiple items at a time via the inventory audit report (see description at top of this post).



NB - the list of conclusions below is not exhaustive.  There are many more possibilities.  If you can think of any, please add your comments in the text field below.

Expected inventory

  • This should always be positive.  If it's negative then:
    • You may have sold the frame ("from stock" or "to order") and you have not yet "received" it in your inventory.
    • There are two identical model numbers in your inventory but with different color codes.  You received one, but sold another.

Expected Serial Numbers.

  • This should always be positive.
  • If this quantity is higher then your expected inventory, then it likely means that users in your store are "reprinting barcodes" instead of "receiving" new products from suppliers.  

Actual Serial Numbers

  • This is the number of barcodes scanned for each product (frame)

Missing Serial Numbers:

  • A frame was lost
  • A frame was stolen
  • A frame was not scanned

Extra Serial Numbers

  • You did an inventory audit a month ago, and you adjusted all the "OK" and "Discrepancies".  Today you are doing a second inventory audit and you scanned a barcode that you "forgot" to scan a month ago.
  • You returned a frame to a supplier, but it is still on the shelf and you scanned it during the inventory audit.
  • You transferred the frame to another store/location, but the frame is still on your shelf and it was scanned during the inventory audit process.
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