A physical inventory is a counting process which count currently stocks in the warehouse, comparing with a number of stocks that is financially recorded as part of transaction process. For companies that have plenty and various inventory items, this process should be done frequently to minimize dispute that could be arisen, and making necessary adjustments to balance it again. How frequent that this process should be done? It depends on your company rules, operational time, people that get involved etc. You can imagine how companies, or you can call it supermarket, like Wallmart, Kroger, SuperValu are balancing their inventories? They are implementing a complicated software system and strict Standard Operating Procedures (SOP) to minimize its discrepancies. I don’t think they will use this simple template :).
This simple physical inventory count sheet is suitable for you who running a small business with few inventory items. So, you don’t need any complicated software. You can type all information in this sheet where any people can do it without complicated thought, for example mini market or mini stores. Or, you can use this to manage your company household items, like pens, inks, papers, folders, computers, mouses, keyboards etc where those small items are usually damaged or lost in company operational situation. Make sure that the counting process is done by accounting people, or not inventory keeper employee, to prevent any false information by the inventory keeper.
You can modify this template to suit your inventory counting needs. Different companies or people could have different rules on managing their inventories.
