A Cycle Count is an inventory control procedure where Items in a specific location are counted and verified.
A Cycle Count is different from a Physical Inventory where a physical inventory will stop operation at a facility while all items are counted at one time. Cycle Counts are less disruptive, provide an ongoing level of inventory accuracy, and can be focused on Items with high value or high volume.
The purpose of Cycle Counting is to verify that your items are where they are supposed to be and they are properly logged into your Bound Book. Identifying mistakes before the ATF shows up can help you avoid violations or administrative action against your license.
To get to the Cycle Count page in FastBound, from the main menu go to Inventory Control > Cycle Count.
The Cycle Count page shows you a table of all of your Locations that have open Items in them, a total of how many Items are in the Location, a total of how many Items have not been counted in a number of days you set, and the Last Verified date.
It is recommended when prioritizing what Locations need to be Cycle Counted first, that you Cycle Count Locations with Items that have never been verified or have the oldest Last Verified date.
Along with your Locations, FastBound has these lists:
- All Open Items
This lists all Open items in your account
This lists how many Items that are Open and have not been verified in the number of days you set
- (No Location)
This lists how many Items that are Open and do not have a Location set.
This is a Location with Items that were not found during a Cycle Count or may have some other problem. For example: Incorrect Manufacturer, Invalid Caliber, or other Item detail. Moving Items to the Exception Location allows you to remember what Items have an Exception condition so you can fix them ASAP.