Hi Team
I noticed that there is an issue where the Inventory on Hand does not show the correct value based on the Good Receipts. The value reflected in this account is always the total order value which is not correct as per my understanding.
e.g.
If I have created a Purchase Invoice for 10 items at a cost of $10,
and only received 5,
the Inventory on Hand account should only reflect a value of $50 and not $100.
Kindly advise if this is a bug or is my understanding not correct.
Thank you
It is not a bug - your Purchase Invoice says you have purchased 10 @ 10 and that what the accounts reflect. The Goods Receipts only reflects the status of the quantities, not money. Or to put it another way, if you weren’t using Goods Receipts, your Purchase Invoice would still show 10 @ 10 regardless of the delivery status.
That is understood, however given that there is a GR process, can this not include the money part to reflect the real time value instead of needing a reconciliation,etc to be done at the balance sheet level.
Goods Receipts and Delivery Notes only reflect quantity movements. If you are needing to do a reconciliation (quantity or money) then use the Inventory Items tab which breaks out the status.
Inventory in stock plus Inventory not yet delivered = Purchased Inventory.
