Hi, please help.
I currently did a report for the year-end account Feb 2019 to March 2020.
Yesterday, inventory - cost show up all cost of goods sold, yes I have read through topics in the forum about the built-in average cost in Manager (have no issue about it). However, today when I viewing the P&L, the cost of inventory only shows up in the month of March.
Any idea where the cost of goods sold in Feb 2019 until Feb 2020???
I have more than 400 sales invoice in January to February 2020.
Do you see “Production in progress” among your balance sheet asset accounts?
here’s the BL. no production in progress.Where could be the issue??
Show the following screen shots:
Your second screen shot is not what I requested. It shows the Edit screen of a sales invoice. I asked for the Edit screen of an inventory item that is not showing up in INVENTORY-COST. You happened to pick a sales invoice including the one inventory item that does show up. In other words, so far you have only illustrated that the program works correctly.
For whichever inventory item you show, it will also be helpful to know how you acquire it. Do you buy it or produce it yourself? That answer may lead to more questions.
That should be all the sold item.
perhaps this help
i sold a one package RPC that includes bib number, medal & t-shirt (readymade product). Item was bought from other supplier. (my company too but separate account management)
No, that is still not what I asked for. You have now shown the Inventory Value Summary report. Go to the Inventory Items tab and click Edit beside an inventory item that you believe should show up. Post a screen shot of the inventory item definition screen. Since you mentioned the item RPC - RACEKIT EVENT, show the Edit screen for that one.
I will note, however, that the report provides some additional insight. You said that you had more than 400 sales invoices in January and February 2020. According to the Inventory Value Summary, the only inventory you sold from January through March 2020 was RDM - READYMADE PRODUCT, exactly as shows up in the INVENTORY - COST account on your Profit and Loss Statement. Your other activity involved (1) consuming everything you purchased of two items through production orders and (2) producing the RACEKIT EVENT item via a production order. Those production order activities suggest you may be misusing production orders, because you described RACEKIT EVENT as a readymade product bought from another company. Your records, however, show that you manufactured it yourself.
What you need to do is illustrate a complete path for an inventory item. Show how you either purchased it or produced it. Then show how you sold it. Then show that is does not appear correctly in INVENTORY - COST.
the item should be the RPC.
I made the production order just to combine & sell all item in one package.
You told @Abeiku that you did not have Production in progress among your balance sheet accounts. But in the balance sheet you showed (as at 31.03.2020), it turns out you suppressed zero-balance accounts. Your chart of accounts shows that you do, in fact, have such an account.
Production in progress is created automatically when you have insufficient quantities for a production order. This was probably the cause for any sales invoice that does not show up correctly in INVENTORY - COST. The cost has not been transferred yet, because you do not own sufficient quantities of all items necessary to complete the production order. Read the Guide: Understand insufficient quantity on a production order | Manager.
An alternative is that, however you acquired the components that went into a finished inventory item, you incorrectly allocated no cost to them.
As I said before, you need follow an inventory item completely through your workflow, understanding how it was acquired, at what cost, and how it was used or sold. So far, your illustrations have shown one of two things:
production in progress not appear because there are sufficient quantities for production for that period (until 31/03/2020).
Should I just use inventory kit instead of production order to sell a few items in one package? ok now there’s a lot to adjust and print again if i have to change it. OMG
Your screen shot does not prove what you think it does. The Complete status is as of today, not as of the date of production.
The production order was dated 31.01.2020, but the balance sheet you showed earlier was dated 31.03.2020. Showing various things from different dates does not help. You must do what I have told you twice: follow an inventory item (and any components that led to its production) from acquisition completely through sale. Something like this cannot be diagnosed remotely with only small snapshots of the data.
Based on the limited information you have shown, your problem could be that the inventory items on the bill of materials for RACEKIT EVENT were improperly costed. If their current average costs were zero at the time of the production order, the cost of RACEKIT EVENT would be zero. So Production in progress would be zero. And no transfer to INVENTORY - COST would take place.
Yup I finally found it. It was the inventory RDM not sufficient during the production order. I just changed the date of good receipt and the inventory-cost now show up.
Now, I wonder whether Inventory Kit is more suitable for the package i made as Racekit Event, will it happen like this too if the bill of material insufficient?
If you are not actually performing any manufacturing activity with the items on the bill of materials, but only selling them together for convenience, I would use an inventory kit. That is less work, because you leave out the production order. But if you are, for example, taking the items from existing inventory and packaging them in a bag that is separately stored and might need to be counted later, use the production order approach.
Insufficient quantities to not hamper inventory kits. But you could still experience negative quantities indicating a backorder situation. Cost of goods will not be transferred until you own the goods.
Thanks for the explanation @Tut
