I noticed that a similar issue to occurs when one submits the physical inventory in such a way that the SOH for a given product is 0, it is then displayed as "Understock" in the printed stock card, instead of "Physical inventory", as visible on the screenshots.
Log into the application as divo1.
Navigate to Stock Management > Stock on Hand.
Click the "View" button next to RotaTeq with no lot defined.
For the date of 17/11/2017, "Physical Inventory" is visible.
Click the "Print" button.
The physical inventory from 17/11/2017 is shown as "Understock".
Physical inventory should be displayed as "Physical Inventory" on the printed stock card.