Yes that’s correct. The “Latest Count” column in Inventory Part in Stock is a good indicator of which lines will be included when you run create count report as you indicated in the screenshot. That field only will populate if a count is actually registered against the part in that location.
Keep in mind cycle counting is per-stock record, not part. So take for example a part that exists in 3 different locations with a cycle interval set to 30 days. On day 1 you count 2 out of 3 of the locations. If you run the count report again on day 15, it will list that same part but only the 3rd location that wasn’t counted on day 1.
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