Required on Inventory Accounting in Manager.io

[shraddha_kitture]

I am currently using Manager.io for accounting and need your guidance regarding inventory accounting .While creating inventory items and recording purchase transactions, the value is being recorded under “Inventory on Hand (Asset)”. However, I would like to understand how to correctly manage or reflect inventory under the purchase or expense side, if applicable. Could you please guide me on the correct process for Recording inventory purchases properly Understanding how inventory flows between asset and expense (cost of sales) Ensuring entries are reflected correctly in financial statements.

[Bilal_Salameh]

@shraddha_kitture
Purchases → Asset (Inventory)
Sales → Expense (Cost of Sales)

Inventory only becomes an expense when it is sold.

[Abeiku]

Read the guides on inventory first: https://www.manager.io/guides/inventory-items

You need to use the recalculate button asl well in invengtories.

Added ability to batch recalculate inventory costs

In the latest version (25.2.25) you can now batch recalculate your inventory costs. This is done on Inventory Cost Correction screen which you can access by going to Inventory Items tab, then clicking Inventory Cost Correction button in bottom-right corner. [image] Inventory Cost Correction screen shows all your inventory items and calculates Discrepancy. If there is discrepancy, then you will see discrepancy amount and checkbox. Selecting the first checkbox will select all items so you don’t…

Automate Recalculate Inventory

Hi I particularly address the Developer in regard to the feature Recalculate Inventory where we have to go to Inventory and recalculate every time we need to see the results of the transactions done Is automating it with every transaction is in the cards? As a proud user of Manager, I don’t just understand this manual thing is a good practice

Test things out and ask questions if you have any