Inventory closing period

[shahabb]

Simply it is adding an Inventory Lock Periods screen under settings and making the recalculate algorithm to take the reference date from this screen rather than Lock accounting period screen. And instead of single date like Lock accounting period the date should be entered every period and the latest one will be used for Recalculations.

Let say i create a new closing period entry on 30 Jun 24, then the recalculate button would take that Date into consideration and will recalculate after 30 Jun 24. Then by adding another entry let say 30 Jun 25 Recalculation will be done after 30-jun-25.

Once a closing entry is created most businesses won’t need to delete that entry and with deletion a warning should be displayed showing inventory costs may change.

Here you mentioned why you can’t make this automated

@lubos

As for making it 100% automatic, I was considering this but it’s just not viable. You absolutely do not want your figures to be recalculated automatically if the software notices they are not correct. There needs to be manual trigger so that software doesn’t recalculate your cost of sales in closed periods.

You might say - we have Lock Date to prevent this. Sure. But once in a while, lock date is sometime lifted. You would not expect your cost of sales to be recalculated for all your past periods just because you have removed Lock Date for a few minutes.

By adding a separate lock period for inventory will solve that issue too.