Forum Discussion

ihearne's avatar
Experienced Cover User
3 years ago

Incorrect Inventory totals

Hi we are having problems with our inventory being out time and time again.  Does anyone else have this issue and if so what have you done to fix it??? 


Its so frustrating as we dont purchase locally, MYOB states in the inventory we have stock then we go to get stock and its not there, we purchase stock from overseas so frustrating as we have to wait on stock to be freighted and in these COVID times we all know how long that is taking..  


Is there an inventory software that anyone has found that actually works either within MYOB or another provider please let me know as i am sick and tired of this, if i have to move to another accounting software i  may have to as reading the threads about inventory its seems to be a known problem that MYOB hasnt addressed and fixed. 


Can somone tell me please when i run a purchase item detail report why its has differentr totals to if i go into iventroy history for the same finacial year ??? it appears the system is pulling the infopprmation from 2 different areas?????? so confused HELP

3 Replies

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  • Mike_James's avatar
    Ultimate Partner

    Hi ihearne , does your inventory value reconciliation report show an "out of balance"? On this report, is stock overall greater than the general ledger balance?


    If you run the same report for a month prior, does the difference reduce?

    • ihearne's avatar
      Experienced Cover User

      Hi Mike, Thanks for your reply, please see attached copies of one of the many items with incorrect quantity values.  Actual stock on the shelf is 2 

      • Butch_Dixon's avatar
        Experienced User

        I import and have long waiting times. I upload the stock to the system via the import function, and import it as an order. You can still allocate a payment to the supplier. When the stock arrives I convert to Bill.


        I account for the freight + tax with separate bill, once again uploaded via import. You apply the freight + tax amount to the product. But you have separate line item that minuses the inventory, with a zero value. So there is no inventory qty affected, just the value.


        If I have any variances eg short supply, I will create another bill and do the adjustments with that.


        Been using this method for years and it has been rock solid.


        For reporting I use - it is browser based and way more flexible than MYOB reporting eg you aren't restricted with date ranges like you are on some MYOB reports. It is only $44/month but just so much easier to interface with excel.