Set up Inventory Count for items

Inventory count is a feature in NetSuite to track the on-hand item quantities of the item as stock that will reduce overhead costs in the business. Suite answer- 30576, 28061,30577, 28000, 28071

Enable the Inventory count feature

1. Go to Setup > Company > Setup Tasks > Enable Features.
2. Click the Items & Inventory subtab.
3. Check the Inventory Count box.
4. Click Save.

To set up preferences:

1. Go to Setup > Accounting > Preferences > Accounting Preferences.
2. Click the Items/Transactions subtab.
3. In the Default Inventory Count Account field, select the default account you want to show in the Account field on inventory count records. Typically an expense account, this account is used to post inventory count variances to.
4. Click Save.

After the inventory count transaction status is started the system will take a snapshot of the inventory on hand quantity for comparison.

A completed count can be reviewed to be approved or rejected. A rejected count must be counted again by the warehouse manager. An approved count generates variances to account for any quantity differences between the original snapshot and the final count.