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Closing an Inventory Worksheet

Kevin U
  • Updated

Closing an Inventory Worksheet

When the counts have been entered in the system for all items on your inventory worksheet, the worksheet can then be closed to have the system calculate the current value of the inventory. 

When a worksheet is closed, the counts and value for each inventoried item are updated on your inventory list, and any items that were added directly to the worksheet will be also added to your inventory list. 

Also note that for audit purposes, once a worksheet is closed it cannot be re-opened again and cannot be deleted. 

To close a worksheet:

  1. From the open inventory worksheet, click the Set Completed button. 

    set_completed.png
     
  2. If not all items have been inventoried (i.e., the Case Amount and Stock Unit Amount fields for each item must contain a value), then a banner message appears stating the number of products not inventoried. It is recommended to click the Back to Worksheet button to return to the worksheet and enter inventory counts for the missing items (or remove items from the worksheet if needed). However, there is the option of clicking the Complete and zero remaining fields button that automatically enters 0 values for the empty Case Amount and Stock Unit Amount fields; if using this button, ensure that the items are truly zero.

    non_inventoried_message.png
     
  3. Assuming that all items have been inventoried, the screen refreshes with the total cost calculated for each storage area. From this screen, you can review the counts prior to closing. If needed to re-open the worksheet to adjust the counts, then click the Reopen Worksheet button. 

    close_review.png
     
  4. When ready to close the worksheet, click the Close Inventory button. A confirmation message appears. 

    close_confirm.png
     
  5. Click the Close Inventory button. The inventory worksheet is now closed with the total cost at close value displayed at top right of screen. 

    total_cost_top_right.png
     
  6. Clicking a storage area tab displays the total cost for inventoried items in that storage area.
    storage_area_cost.png

Accessing a Closed Inventory Worksheet

When an inventory is closed, it presents with the Closed status on the Inventory Worksheets Listing screen (screenshot below). Note that for audit purposes, once a worksheet is closed it cannot be re-opened again and cannot be deleted. 

closed_label.png

You can access a closed inventory worksheet by clicking its name. 

click_name_closed_IW.png

closed_IW.png

Column Descriptions on a Closed Inventory Worksheet

The columns on a closed inventory worksheet are described as follows:

  • Item - name of the generic food item
  • Product - the vendor product being purchased for the generic food item.
  • Pack Size - pack size of the vendor product. 
  • Total Stock Unit - the inventory count that was entered for the item. 
  • Cost at Close (aka Pack Price) - the pack price of the product when the worksheet was closed. Note that clicking the product name displays the product details, including the pack price.
  • Replacement Cost (aka Pack Price) - the current pack price of the product. Note that clicking the product name displays the product details, including the pack price.
  • Total Cost - the calculated cost of the inventory count of the product. Calculated as follows: 
    Pack price / stocks unit in pack x inventory count of individual stock units = total cost. 
closed_IW_columns.png

Selecting Sort Option for How Items are Arranged on Closed Inventory Worksheet

The item sort order for a closed inventory worksheet can be changed via the Display Options tool at the top of the screen. The following sort options are available (in the Sort By section): 

  • Location - sorted by alphabetical ascending order of storage locations. 
  • Category (stock item category) - sorted by alphabetical ascending order of the stock item categories. 
  • Item - sorted by alphabetical ascending order of the food items.

    sort_by_closed_IW.png

Viewing Replacement Costs (i.e., Current Costs) on a Closed Inventory Worksheet

When an inventory worksheet is closed, the total cost at close is calculated. If pricing on products is subsequently updated, then the system captures those updated costs as "replacement costs" on a closed inventory worksheet. Viewing the replacement costs on a closed inventory worksheet allows you to know what the current cost would be of repurchasing your inventory if needed. 

To view the replacement costs on a closed inventory worksheet, complete the following steps:

  1. Access the closed inventory worksheet. 

    closed_IW.png
     
  2. From the Display Options, select the Replacement Cost option, and click the Save button., 

    display_options_replacement_cost.png
     
  3. The closed inventory worksheet refreshes with the total replacement costs, as indicated in the screenshot below (right-click image to open and expand in new tab). 

    IW_replacement_cost.png

Generating Excel® File of Closed Inventory Worksheet

You can generate and download an Excel® file of a closed inventory worksheet. The information and item sort order that is in the file will reflect what is currently displayed onscreen, which in turn is determined by the Display Options. To generate an Excel file of a closed inventory worksheet, complete the following steps.

  1. Access the closed inventory worksheet. 

    closed_IW.png
     
  2. Click the Export button. The Excel file is downloaded. 

Generating PDF of Closed Inventory Worksheet

You can generate and download PDF file of a closed inventory worksheet. The information and item sort order that is in the file will reflect what is currently displayed onscreen, which in turn is determined by the Display Options. To generate a PDF file of a closed inventory worksheet, complete the following steps.

  1. Access the closed inventory worksheet. 

    closed_IW.png
     
  2. Click the Print button. The PDF file is downloaded.