Inventory - sales
Hi everyone. I have a wrong in profit calculation (minus profit), in the summary screen my sales about 34000 and summary screen (Inventory - sales = 11289) … can anyone help me? also when I re-calculate the cost the profit go-down in minus (see the picture)
Please show the whole screenshot including the space under Net profit (loss)
This screenshot is clear and does not show an error.
- Total Income = 11,297.00
- Total Expenses = 46,227.71
- Calculates Net profit (loss) = 11,297.00 - 46,227.71 = -34,930.71 this is the same as on your summary screen.
look for (inventory cost = 44.140) and the (inventory sales = 11.289)
the following total amount sales of transaction
Please note that your first claimed that your Summary screen miscalculated Net profit and I just showed you it did not.
Information about inventory items can be found at https://www.manager.io/guides/inventory-items
The Summary screen shows Inventory on hand
in Assets. Look in the link here to see what constitutes Inventory on hand, i.e.:
Qty on Hand
If you are using
Qty to Deliver
and/orQty to Receive
, the Qty on Hand shows your physical quantity on hand.
- Increased by
Goods Receipts
.- Decreased by
Delivery Notes
.- Excludes
Sales Invoices
unless they also act as delivery notes.- Excludes
Purchase Invoices
unless they also act as goods receipts.- Includes all other general ledger transactions.
Note:
Sales Invoices
,Purchase Invoices
,Debit Notes
, andCredit Notes
affect Qty Owned but have no effect on Qty on Hand. Conversely,Delivery Notes
andGoods Receipts
affect Qty on Hand but have no effect on Qty Owned.
So as long as either you used delivery notes and/or goods receipts (or have the invoices act like them) then the Quantity on hand in the Summary screen would display the value you are looking for.
Otherwise parts of the Purchase invoice amounts
are for example listed under Accounts payable
in Liabilities.
this problem starts in this year, because I start in new quantity by filling it manually. does these effects on the profit calculation?
Not sure about which quantity you talk about and how and where you fill these. However, you should try to avoid that in a perpetual accounting system. Follow the correct procedures to avoid errors.
Please read my earlier post carefully about the difference between Quantity in hand as shown in the Summary screen and for example Quantity owned (see guide I linked you to).