Are you the one who responsible for physical inventory count conduct? If yes, this General Physical Inventory Count Procedure may useful for you. This procedure is used to create a structured approach to a physical inventory count.

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Physical inventory count is mainly a controller’s responsibility, but in small business, it could be fall into the business owner’s task or an accounting staff. For sure, this would not be done by one person. It would be by a team. Anyway, whoever should, here is a general procedure for effective physical inventory count:

 

Preparation For The Physical Inventory Count

 

On the Physical Inventory Count Day