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I. OBJECTIVE
1. To observe the monthly inventory checking activity
II. DEFINITION OF TERMS
(Not Applicable)
III. GENERAL POLICIES
Every month, Accounting Department shall write a memo for the Month End Inventory Schedule. The memo shall include the date and time of the activity and the Accounting Representative assigned to overlook the said activity.
Warehouse Staff shall assign their own personnel who will accompany the Accounting Representative on the said activity.
Warehouse Staff and Accounting Representative shall count all the items inventoried in the warehouse and check for variances. After counting the items, they shall update the Physical Count Adjustment (PCA) to the system.
After the activity, a report shall be made and sent to the COO/CEO.
IV. PROCEDURE FLOWCHART
Flowchart Title
(Not Applicable)
V. REFERENCE/INTERFACE PROCESS
Document Title
(Not Applicable)
VI. FORMS AND RECORDS
Form Title
(Not Applicable)
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