Fixing category count

Somehow my post counts are incorrect due to inserting rows via php. I have the following code to update the count, is it correct?

global $wpdb;
$result = mysql_query("SELECT term_id,term_taxonomy_id FROM $wpdb->term_taxonomy where taxonomy = 'category'");
while ($row = mysql_fetch_array($result)) {
  $term_taxonomy_id = $row['term_taxonomy_id'];      
  $countresult = mysql_query("SELECT object_id FROM $wpdb->term_relationships WHERE object_id IN (SELECT ID FROM $wpdb->posts WHERE post_type="post" AND post_status="publish") AND term_taxonomy_id = '$term_taxonomy_id'");
  $count = mysql_num_rows($countresult);
  mysql_query("UPDATE $wpdb->term_taxonomy SET count="$count" WHERE term_taxonomy_id = '$term_taxonomy_id'");
        }

If you just want to update the counts of posts in each term, wp_update_term_count_now( $terms, $taxonomy ) should do it… just pass the terms affected as an array and run it once for each taxonomy you have.

You can also call wp_defer_term_counting( true ) before inserting new rows, and then after adding your posts, catch up on the counts by calling wp_defer_term_counting( false ).