1 Topic by MarkAndrew (edited by MarkAndrew 08/12/2014 01:38:05 pm)

  • From: Mauritius, Zimbabwe
  • Registered: 03/03/2013
  • Posts: 107

Topic: Error in costed inventory movement report

The following error is produced in FA2.3.19 : Costed inventory movement account

1. Create a new stock item
2. Adjust 1 unit of stock at $2 on say 12 July 2014 
3. On 12 August 2014 adjust 1 unit of stock at $8
4. Run the costed inventory movement report from 1 August 2014 to 31 August 2014 and this is what you will see the following wrong result.

                          Opening Stock                                Stock in                              Delivery                       Closing Stock 
                     QTY   Rate   Value                 QTY   Rate   Value              QTY   Rate   Value                QTY   Rate   Value
                   
New item        1        5        5                        1       0         0                                                              2       5         10




5. The correct result should be

                          Opening Stock                                Stock in                              Delivery                       Closing Stock 
                     QTY   Rate   Value                 QTY   Rate   Value              QTY   Rate   Value                QTY   Rate   Value
                     
New item        1        2        2                        1       8         8                                                             2       5         10


6. Not being a programmer and unable to check the code, it looks like what is happening is that FA is selecting the last average cost to value opening stock instead of the average at the start of the period for which the report is run.  Then in such a case, it is not picking up the unit cost of the stock added in the report period.

Is it possible to correct this error? It would be in the interests of all FA users to have accurate reports.

Mark

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,085

Re: Error in costed inventory movement report

FA is using the average material cost when calculating the cost prices.

The item cost price can be manuelly adjusted in the Items and Inventory tab. These Changes will not affect the stock movements and therefore will show the wrong results when using the stock movement cost prices.

This is the fact for report:

Inventory Valuation report,

The reports, Inventory Sales Report, GRN Valuation report, Inventory Purchasing report, Costed Inventory Movements, Inventory Sales report shows the correct cost price values for the stock movements.

/Joe

  • From: Mauritius, Zimbabwe
  • Registered: 03/03/2013
  • Posts: 107

Re: Error in costed inventory movement report

thanks Joe, however the fact remains that the costed inventory valuation report as it stands can't be relied on.

From my example you can easily see that

1. the opening stock unit cost and therefore stock value in this section of the report is wrong
2.the stock in has no unit cost and therefore stock value in this section of the report is wrong

Surely, standard, system generated reports need to correct?

Mark

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,085

Re: Error in costed inventory movement report

Hello again MarkAndrew,

Yes, it looks like we can improve this costed inventory valuation report.

Will you download the file rep308.php1 and rename it to rep308.php and replace it in /reporting folder. Please test with various scenarious and tell me if this is better. Thanks in advance.

/Joe

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  • From: Mauritius, Zimbabwe
  • Registered: 03/03/2013
  • Posts: 107

Re: Error in costed inventory movement report

thanks Joe.

  • From: Indonesia
  • Registered: 05/30/2018
  • Posts: 61

Re: Error in costed inventory movement report

joe wrote:

Hello again MarkAndrew,

Yes, it looks like we can improve this costed inventory valuation report.

Will you download the file rep308.php1 and rename it to rep308.php and replace it in /reporting folder. Please test with various scenarious and tell me if this is better. Thanks in advance.

/Joe


Hi Joe, I downloaded this version and it looks like it fixes the wrong costing method used in Costed Inventory Movement report (CIM)

But now there's a totally 2 different value for certain item in the system from 'BalanceSheet Drilldown' and to CIM report

I find it's higher in CIM report, which should be

Maybe FA2.4.8 have not found fixes to resolve these difference

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