Inventory Control - Inventory Valuation ReportFunctionUse this task to create a report showing the value of on hand inventory in the warehouse(s). The value may be based on average, standard, replacement, or landed cost methods; the default is the method selected in the system parameters.
=> To access this task... Select Inventory Valuation Report from the Period End Processing menu.
Inventory Valuation Report About the Fields
From the Costing Method dropdown...
From the Detail Level dropdown...
The Inventory Valuation Report displays in six different formats, depending on the selection made in this field. There is one format for a report by product type, one format for a summarized report, and up to four formats for a detailed report. A detail report for inventory with no lot/serial or LIFO/FIFO stock displays a report very similar to the summarized report. However, additional formats are used if both lot/serial and LIFO/FIFO are used, lot/serial and no LIFO/FIFO, or LIFO/FIFO and no lot/serial. If the LIFO/FIFO flag in Inventory Parameters is turned on (either L or F), OR the Detail Level selected when running the report is P (Totals By Product Type), you won’t be able to change the Beginning Balance or Quantity On Hand. It defaults to Beginning Balance unless you’re using LIFO/FIFO, and then it’s Quantity On Hand.
In the Beginning/Ending Warehouse field...
In the Beginning/Ending Product Type field...
In the Beginning/Ending Item ID field...
Include Zero Balance Items checkbox...
Page Break By Product Type checkbox...
From the Ending Balance Or Qty On Hand dropdown...
Exclude Inactive Items? checkbox...
When done making selections...
Sample Inventory Valuation Report See Output Options.
After output selections are made, the system creates a GL Account Totals report.
Sample GL Inventory Valuation Report
See Output Options.
The report uses the current period and year from the Parameter Maintenance task - System Parameters option. If LIFO/FIFO costing is enabled and an item is not lotted/serialized, the ending balance column on the report is blank. And an item will not appear on the report if it is lotted/serialized and the quantity on hand is zero.
In a manufacturing environment (i.e., when there is a Bill of Material cost roll-up process), create the Inventory Valuation Report to determine the general ledger postings that are needed after cost changes are made for components and rolled up into finished goods. The general ledger postings are determined as follows:
The differences may be used between the two Inventory Valuation Reports to determine the general ledger postings that are required to adjust the Inventory account(s) and the Purchase Cost Variance or Cost of Sales account(s). ______________________________________________________________________________________ Copyright BASIS International Ltd. AddonSoftware® and Barista® Application Framework are registered trademarks. |