I wanted to share my findings with the group regarding the Time stamp issue, as it seems to be a rather rare and ambiguous subject.
As it turns out, the time stamp is quite a useful feature and RMS fully supports it. The main benefit is that it allows the store or a particular department to remain open and make sales, while the physical inventory is being taken.
Consider the following scenario: At 8:00 am you run your new Physical Inventory Count sheet. At 8:15 you scan item Z with a quantity of 8. At 8:30 you sell 2 of item Z off the shelf. At 9:00 you upload the counted items into a file and import that into your Physical Inventory Count sheet, and clicck Calculate
If your count entries have been stamped with the scan time and properly imported, RMS will know that the count was taken before the sales were made, and therefore adjust the Expected Qty to 8. No discrepancy!
If your count entries have not been time stamped, or stamped with a time after the sale, or if you manually enter the count value, RMS will not adjust for the sold items and will compare the count value with an Expected Qty of 6. Discrepancy of -2.
I for one am very pleasantly surprised by how sophisticated RMS is in dealing with physical inventories.
Hope this was of use to anybody might have had questions on this issue.