Added ability to batch recalculate inventory costs

1

In the latest version (25.2.25) you can now batch recalculate your inventory costs. This is done on Inventory Cost Correction screen which you can access by going to Inventory Items tab, then clicking Inventory Cost Correction button in bottom-right corner.

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Inventory Cost Correction screen shows all your inventory items and calculates Discrepancy. If there is discrepancy, then you will see discrepancy amount and checkbox.

Selecting the first checkbox will select all items so you don’t have to check them individually.

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Then click Batch Recalculate button at the bottom.

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Because this is potentially long-running operation, you will see progress which you can Stop if desired.

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Keep recalculating until there is nothing to recalculate.

Inventory Cost Correction respects your Lock Date which means it will only recalculate your costs after lock date. This ensure your historical figures do not change.

4 Likes
2

Thanks @lubos. One thing that needs attention is when recalculated from the Cost of Sales on Sales Invoices Tab or Total Cost on Production Orders Tab the units costs are calculated differently.
I think recalculated button is using different calculation algorithm. That needs to be either removed or updated to the latest one like the Cost Correction Worksheet.
Also period selection on Calculation Worksheet would be nice addition.

3

Thanks @lubos for this batch.
How ever, i see two things after I tested it: -

  1. Minor items( with Qty on hand/owned) do not have unit cost calculated.
  2. a large unusual amount of one item - the above mentioned item - is Debited, the credit usually goes to Cogs.

In Summary - the tested company is a MFG org. and the final impact is:

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4

Looks like you have negative inventory of that item.
Does that item have equal qty on hand and qty own? This usually happens when the ledger of an item goes into credit. So, to make it zero a debit entry of equal amount is created.

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This does not have any negative, but positive qty oh/ owned

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Then it might be the lock date which is preventing the Cost correction worksheet from making correction from the start. But not sure. Click on Total Cost figure and check where the issue is.

2 Likes
7

Thanks for the suggestion @shahabb .

This worked for me. I have my current file running since 2017 and I had to reset the lock date to 2016 and hit the batch recalculate inventory costs. it seems to have corrected the per unit cost (weighted average) and i can finally get proper inventory values (and therefore a proper Profit/Loss working on the Summary P&L).

FYI, I’m on the Cloud version (so always updated) and i created a clone of the file in order to experiment the steps. I only used the Inventory Correction feature and I will now replicate the same steps in the main file.

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I have been using your software since 2020, and it is a very good software. However, the profit calculation method you have implemented is not optimal at the right average. It would be better if it worked automatically. There should not be a need for a recalculation button, just like it was previously on auto mode.

1 Like