Current value on Item Register is incorrect

here is the photos

Hi asdfgh1,

Thanks for your post detailed post with screenshots, and welcome to the Community Forum!

This sometimes happens. We have an online script that can fix the issue. Could you please confirm the last four digits of your serial number and your company file ID? Thank you!

Looking forward to your response.

Regards,
Earl

Hi Earl, 

Thank you for your response. The last four digits of serial number is 2044 and company file ID is 1. 

Hi asdfgh1 ,

Thanks for providing the information. I've arranged for an online script to run on your file, which should fix the issue. Please log out and then log back in to check if the problem is resolved.
 

Feel free to start a new post if you have further questions, and one of us will be happy to assist you.

Regards,
Earl

Hi Earl_HD 

Unfortunately, the issue hasn't resolved yet. The figure hasn't changed. 

Regards,

Hi asdfgh1,

This may require individual investigation. I recommend trying our virtual assistant, MOCA, which is designed to dive deeper into issues like this. Give it a go! Feel free to engage with MOCA through myob.com/support for any queries or assistance you might need. If MOCA can't provide the help you need, our live chat team is available to pick up where MOCA left off.

Regards,
Earl

Hi Earl_HD 

I was chatting with someone on livechat yesterday and he recommended me to post here so someone from tech team can help me out. Is there any way to solve this issue?

Regards,

Hi asdfgh1,

I see that you are still having an issue with the current value item register and have already tried to reach out to our live chat support.  This usually happens when:

• Building or recording an inventory journal transaction where the item quantity is zero, but there is a price
• Re-recording an item sale, dated before an inventory journal transaction

In some cases, entering a new inventory journal transaction can correct the item's current value. Please let me know if that will work.

Feel free to post if you still need further assistance.

Cheers,

Jem

Hi Jemar_C 

I'm still confused - as far as I know, we don't build/ record where the item quantity is zero, but there is a price or re-record an item sale, dated before an inventory journal transaction. 

Here are my questions/ concerns

1. Why the current value is much higher than it should be?
2. The current value figures are different on Items Register and Item Register Report as attached. Am I correct that these two figures should be the same?
3. How can we this issue? We are having same issues on other items as well.

Thank you for your assistance.

Hi asdfgh1 

There are lots of bugs in MYOB's Inventory. Do not use the Item Register reports - the Detail report is often wrong, as is the summary. Use the Item profile screen value or the Inventory Value Reconciliation report as the figures here are more reliable - though they too are sometimes not what they should be!

It's up to the user to setup and manage inventory correctly. And check the Inventory Value Reconciliation report regularly, and adjust as necessary. Basically MYOB will use the average cost on the item profile screen for the next Sale to calculate COGS. If the average cost is zero, MYOB will calculate zero COGS. 

If you need assistance resolving this issue or understanding inventory in MYOB and how to fix, get in touch with MYOX Services. They can usually give you a straight answer without the run around.

Regards

Gavin