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Simple Month End Inventory Valuation

  • 22 July 2021
  • 7 replies
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J
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I have currently been using the historical inventory valuation for reporting month inventory values. This report needs to tie to the the balance in my inventory account. To accomplish this, I am having to the use a start period that is the beginning of time to the current period. The report size gets larger and larger every month due to an additional months data being added.

 

Are there any reports that can be run that do not include each months transaction details? Ideally, I would only need 4 columns:

Inventory ID, Description, Quantity on Hand & Value for any given historical period.

 

Any input would be appreciated!

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Best answer by kristianharianja 26 July 2021, 17:02

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idrusm52
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The solution is by copy the report Historical Inventory Valuation into “Inventory Valuation by Period” and adjust the report little bit to make it looks like report Inventory Valuation and add the Filter ItemHistLast.FinYtdQty NotEqual 0. Please see attached the modified report.

Then you have to make Balance Sheet for Inventory tally with this report by journal adjustment.

 

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kristianharianja
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If the end period is set the same they both should return the same ending balance of inventory. Note that the historical inventory valuation also groups the report based on account and subaccount so it might be due to the figure you see on the second screen shot is ending balance for of the inventory account. 

Otherwise, I would try to replace the report with original report from a new fresh Acumatica site without any modification made to it and see the result (maybe the reportyou are using has been modified from the original). If this still shows different figure, I would open a new support case.

Kristian Harianja
idrusm52
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Hi @kudzaim20, yes you can make a custom report from Historical Inventory Valuation.

kristianharianja
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Hi, we usually use Inventory Valuation report to reconcile inventory value against GL for the current month. And use Historical Inventory Valuation to see the inventory value in previous period. If you want to only see the value on certain month you could simply choose the same month in Start Period and To Period or modify the report to only show one Period parameter to avoid printing the report from the beginning of time.

 

 

Kristian Harianja
J
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Thanks for the response.

I am normally using this report after our month end close, which last 10 business day. If I run the report for the previous month only (start period and end period are the same), the report does NOT tie to my general ledger balance.

However, when I run a beginning of time start date to the ending period, the report ties to my GL. 

I may not have a fundamental understanding of what this report shows. Shouldn’t both of these reports tie regardless of the starting period?

 

 

 

K
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Userlevel 4
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The solution is by copy the report Historical Inventory Valuation into “Inventory Valuation by Period” and adjust the report little bit to make it looks like report Inventory Valuation and add the Filter ItemHistLast.FinYtdQty NotEqual 0. Please see attached the modified report.

Then you have to make Balance Sheet for Inventory tally with this report by journal adjustment.

 

Great report, can I make a custom report from this one that just shows a line item, branch, quantity, unit cost  and line total and then exclude the General ledger details?

Kudzai Masora
B
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I am experiencing the same issue as jeremyg47 and have read this thread, I don’t see the resolution here.  

  1. We use Historical Inventory Valuation to look at inventory support for prior periods, but we need to select the first period in Acumatica as the “Start Period” (i.e. the beginning of time) in order for the closing balances to agree to the GL
  2. Even so, some of the balances do not tie to the GL, and we have noticed that if we sum up the detail, the sum doesn’t even match to the subtotals in the report (i.e. sum of data is $100 however the report is saying it is $105)

We need a simple report to be able to check historical inventory balances with detail.  Ideally the Inventory Valuation report is the best format, however it is not period sensitive so it cannot be used for account history.  The Historic Inventory Valuation report is messy and not good to work with as an overall report for analysis.  What have people been using for the above?

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