The value of your stock on hand or inventory is an important piece of data for your accounting records. DEAR allows you to calculate the stock on hand value for current and historical dates. The Inventory Movement Summary report shows this data.
- First, go to Reports → Inventory Movement Summary report.
- Customise the Date To field to the date you wish to calculate inventory value for.
- Use the Stock on Hand column to check the inventory value of each SKU for that date.
- You can then scroll down to the Grand Total or export data as a CSV file and sum up stock on hand for all items to calculate the grand total inventory value.
Inventory Movement Summary report is available in the Report Scheduling section, so that it can be automatically generated depending on your required frequency.
NOTE: Discrepancies between the balance sheet and stock on hand values most commonly are one of these 3 factors:
- Stock received date is later than sale date – this can cause negative stock on hand values - if this causes discrepancies we recommend setting stock receipt dates to match the invoice date.
- Goods invoiced but not yet received. Stock in transit is not included in the report if Inventory Accrual is not enabled. If this causes discrepancies we recommend enabling Inventory Accrual.
- Manual Journals that don't have any reflection in stock movements but do affect the balance sheet report.
- If a manual journal is posted with a different inventory account than what is used within the invoice lines, the report data will not capitalise that journal cost to the stock on hand. Make sure that the debit inventory account for a manual journal matches the inventory account of the stock items to distribute this cost to the stock.
The Transactions vs Stock on Hand report is the first place to check when encountering discrepancies between the Balance Sheet and Inventory Movement Summary.