Different Inventory Figures

Options
Tony Quinn
Tony Quinn Member Posts: 4 ✭
edited February 2017 in Accounts Hosted
We currently use hosted on line and are having problems with inventory. Looking at Item list gives us one figure , which I believe should be my current stock on hand. However often when we go to do an inventory stock adjustment the list there shows a different quantity on hand , also when drilling down to a fast report from the inventory report we get a different figure again. Lastly when running an inventory on hand by supplier report we sometimes get a different figure again . We use re-order points in combination with inventory reports extensively to monitor our stock but we are getting false figures somewhere.

Comments

  • Sally McIntosh, Accredited Consultant
    Sally McIntosh, Accredited Consultant Accredited Partner Posts: 468 Accredited Partner Accredited Partner
    edited February 2017
    Options

    Hi Tony,

    I can almost guarantee you are dealing with a date issue.

    I.e. when you look at the item list, it is irrespective of dates and so is all inclusive. If you go into the inventory adjustment screen you will notice if you change the date in the top left hand corner the figures will change. Same when you run reports too, depending on the date the amounts will change.

    Inventory is extremely date sensitive and so you must ensure accuracy when purchasing and selling!

    Kind regards,

    Sally McIntosh (Sally@samsolutions.com.au)

  • Tony Quinn
    Tony Quinn Member Posts: 4 ✭
    edited April 2015
    Options
    So what date should we use for accuracy on reports and inventory adjustment screen ? Current date or do we go to "All " they usually come up with today's date as default. I do sometimes change date in inventory report in order to see avaerage weekly sales of a period of time such as last three months or last six months to help review my stock holdings.

  • Sally McIntosh, Accredited Consultant
    Sally McIntosh, Accredited Consultant Accredited Partner Posts: 468 Accredited Partner Accredited Partner
    edited February 2017
    Options

    Hi Tony,

    With Inventory you need to make sure that you are accurately entering your purchase and sell date as is the actual date it happens.

    In relation to reports I can't advise you the "correct" procedure as each business is different and you need to do what works for you.

    As of today, will show you as of today, but all dates would pick up future transactions also.

    I hope this helps!

    Kind regards,

    Sally McIntosh (Sally@samsolutions.com.au)

Categories