Annual (Periodic) Inventory in a Warehouse
Annual physical inventory is a process were all the enterprise's stocks are physically counted on the balance sheet key date at warehouse level. Every material has to be counted. During counting, the entire warehouse must be blocked for material movements. This article lists all possible steps with screen shots that are required to carry out the annual inventory in a warehouse. This article will help understand the entire flow of annual physical inventory with detailed steps shown at each point with screen shots and required notes.