Dear Support Team,
I noticed that in the Profit and Loss Statement — View
Inventory - cost, the Opening Inventory and Purchases columns are showing the same values for all inventory items. This seems incorrect as there were actual purchases during the period.
Could you please clarify why this is happening and how to correct it?
Looking forward to your guidance.
Best regards,
Hasan Shahariar
Email: hasanshibly3990@gmail.com
What happens if you Recalculate the Opening inventory? Would this resolve the issue?
If you @ Ealfardan look at the image carefully, you will understand that it is inactive. It cannot be clicked.
What about the Recalculate button on the Inventory Tab?
You can try it if the button can be clicked.
I put this in bugs as the recalculate buttons should work or otherwise be absent when using Profit and Loss Statement — View Inventory - cost
@Lubos these buttons are not working here and that is unexpected behaviour, hence being in bugs.
@hasanshibly3990 this does not mean your issue is a bug but at this stage only the lack of working recalculate buttons.
The Recalculate button is greyed out when the opening/closing inventory date lies in a “Lock accounting period” so its not a bug.
These buttons cant be removed because opening date might be in locked period while closing period might not be. In balance sheet Recalculate button doesnt appear if date lies in a locked accounting period.
However @lubos one thing i have noticed Recalculate button on BS and P&L make changes to previously created inventory costs rather than creating new ones even if those entries lie in a locked period thus making previous financial statements distorted.
Shahabb, you are right. I just tried opening the date lock again, but it’s still not working. Can you suggest any other solution?
Now click recalculate button for both Opening and Closing Inventory
I am doing it. Nothing is working. Actually, my opening inventory is zero, but it is showing the same amount as the purchase.
Please check the account code selected in purchase entry or check the account code set for inventory purchase in items.
Yes, I have done both, but nothing is working.
Is this a newly created business? @hasanshibly3990
I’m asking this because I suspect that Starting Balances may have something to do with this.
This business was created in March 2024. I even tried deleting the starting balance I had entered back then, but nothing is working in any way.
Make sure Manual valuation method is not selected. Go to Inventory Tab and check valuation method of every item.
Also check Period selected on summary tab. And create an Inventory quantity report with same period as on summary tab. Post SS here.
Also check inventory costing calculation worksheet select the date which you think have issues.
At the beginning of the business, these four items had no opening inventory. But now they are showing up. If I can solve this, I think something might work.
Do you have any idea why these items are appearing? shahabb
I have checked. The inventory quantity is correct. The only issue is that the inventory cost is much higher than the inventory sales price.
@hasanshibly3990 please use Inventory Cost Correction screen to fix your unit costs.
See: https://www.manager.io/guides/inventory-cost-correction
