I am currently having an issue witht he value of some of my stock. We buy a product from a company as a Z-KFE-1728-CH then when we sell one we build the product to a KFE-1728-CH. When we first started selling the products the company were still working out the price we would pay for the product so the first 4 months or so we put a zero value in the builds. Then when we started adding a value $517.39 in it would calculate the value at a higher price and staff did not adjust this to the right value. Hence now for this Z-KFE-1728-Ch product we now have a value of $99,526.42 for 64 items. as we pay $517.39 for each item the value for 64 should be $33,112.96.
Snapshots attached below.
After calling MYOB multiple times they suggested I do an adjust inventory for the difference in the two amounts ie $66,413.46. This made the current value correct. I also had to do this for 2 more products in the same company. The problem is now my account is saying the adjustment which equalled about $260,000 is throwing out our profit and loss so I have to delete the adjustments.
The accountant suggested going back through each build to change the prices to the correct amount. This does not work because then I keep getting the error message saying your inventory or value can not be zero.
Is there anyone out there who can help me with this? Or suggest a MYOB expert in Brisbane who could come and help me?
Hi DePez , the adjustment you have made reduces stock by $66,413.46, and increases cost of sale by the same amount, therefore reducing profit. But the initial sales of the product were made for zero cost, and therefore the profit on those sales was 100%, a lot higher than it should have been.
So the adjustment you made is bringing the cost of sales back to a more accurate figure and must not be deleted.
It is not possible to change prior build entries, and unfortunately it is no longer possible to force a change to the cost of sale on an item invoice by editing and re-recording it.
Run an Analyse Sales (Item) summary report for the period of those sales and multiply out the unit sales times $517.39 and see how close to the $66k it comes. This helps to validate the adjustment. If you want to see the invoice detail for those sales, run an Item Sales Detail report and edit the report to show extra fields (gross margin dollars and percent).
Brisbane based MYOB Certified Consultant over 20 years experience especially with MYOB AR Inventory. Happy to help. Please feel free to call me on 0413 584 818. Happy to chat and come on site (depending on where you are!)
Thanks
Sas
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Hi,
I am currently having an issue witht he value of some of my stock. We buy a product from a company as a Z-KFE-1728-CH then when we sell one we build the product to a KFE-1728-CH. When we first started selling the products the company were still working out the price we would pay for the product so the first 4 months or so we put a zero value in the builds. Then when we started adding a value $517.39 in it would calculate the value at a higher price and staff did not adjust this to the right value. Hence now for this Z-KFE-1728-Ch product we now have a value of $99,526.42 for 64 items. as we pay $517.39 for each item the value for 64 should be $33,112.96.
Snapshots attached below.
After calling MYOB multiple times they suggested I do an adjust inventory for the difference in the two amounts ie $66,413.46. This made the current value correct. I also had to do this for 2 more products in the same company. The problem is now my account is saying the adjustment which equalled about $260,000 is throwing out our profit and loss so I have to delete the adjustments.
The accountant suggested going back through each build to change the prices to the correct amount. This does not work because then I keep getting the error message saying your inventory or value can not be zero.
Is there anyone out there who can help me with this? Or suggest a MYOB expert in Brisbane who could come and help me?
DePez
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Hi,
I am currently having an issue witht he value of some of my stock. We buy a product from a company as a Z-KFE-1728-CH then when we sell one we build the product to a KFE-1728-CH. When we first started selling the products the company were still working out the price we would pay for the product so the first 4 months or so we put a zero value in the builds. Then when we started adding a value $517.39 in it would calculate the value at a higher price and staff did not adjust this to the right value. Hence now for this Z-KFE-1728-Ch product we now have a value of $99,526.42 for 64 items. as we pay $517.39 for each item the value for 64 should be $33,112.96.
Snapshots attached below.
After calling MYOB multiple times they suggested I do an adjust inventory for the difference in the two amounts ie $66,413.46. This made the current value correct. I also had to do this for 2 more products in the same company. The problem is now my account is saying the adjustment which equalled about $260,000 is throwing out our profit and loss so I have to delete the adjustments.
The accountant suggested going back through each build to change the prices to the correct amount. This does not work because then I keep getting the error message saying your inventory or value can not be zero.
Is there anyone out there who can help me with this? Or suggest a MYOB expert in Brisbane who could come and help me?
DePez
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background-size: contain;\n background-position: center;\n}\n.myob-social-links .twitter a:before {\n background: url(\"data:image/svg+xml;charset=utf8,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 24 24'%3E%3Ctitle%3EAsset 6%3C/title%3E%3Cg id='Layer_2' data-name='Layer 2'%3E%3Cg id='Layer_1-2' data-name='Layer 1'%3E%3Cpath d='M12,0A12,12,0,1,0,24,12,12,12,0,0,0,12,0Zm5.33,10c0,.12,0,.23,0,.35A7.75,7.75,0,0,1,5.4,16.92a5.48,5.48,0,0,0,4-1.13A2.73,2.73,0,0,1,6.89,13.9a2.73,2.73,0,0,0,1.23,0,2.73,2.73,0,0,1-2.19-2.67v0a2.73,2.73,0,0,0,1.23.34,2.73,2.73,0,0,1-.84-3.64,7.74,7.74,0,0,0,5.62,2.85,2.76,2.76,0,0,1-.07-.62,2.73,2.73,0,0,1,4.72-1.86,5.49,5.49,0,0,0,1.73-.66c-.2.64-.23.87-.79,1.21a1.46,1.46,0,0,0,1.34,0A5.8,5.8,0,0,1,17.33,10Z' style='fill:%23687480'/%3E%3C/g%3E%3C/g%3E%3C/svg%3E\")\n no-repeat;\n}\n\n.myob-social-links .googleplus a:before {\n background: url(\"data:image/svg+xml;charset=utf8,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 24 24'%3E%3Ctitle%3EAsset 4%3C/title%3E%3Cg id='Layer_2' data-name='Layer 2'%3E%3Cg id='Layer_1-2' data-name='Layer 1'%3E%3Cpath d='M12,0A12,12,0,1,0,24,12,12,12,0,0,0,12,0ZM9,17.5a5.5,5.5,0,1,1,4.1-9.17L11.61,9.67a3.5,3.5,0,1,0,.56,3.84H9v-2h4.47a1,1,0,0,1,1,1.11A5.49,5.49,0,0,1,9,17.5Zm10.5-4v2h-2v-2h-2v-2h2v-2h2v2h2v2Z' style='fill:%23687480'/%3E%3C/g%3E%3C/g%3E%3C/svg%3E\")\n no-repeat;\n}\n\n.myob-social-links .facebook a:before {\n background: url(\"data:image/svg+xml;charset=utf8,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 24 24'%3E%3Ctitle%3EAsset 1%3C/title%3E%3Cg id='Layer_2' data-name='Layer 2'%3E%3Cg id='Layer_1-2' data-name='Layer 1'%3E%3Cpath d='M12,0A12,12,0,1,0,24,12,12,12,0,0,0,12,0Zm3.51,12H13.2v7.2h-3V12H8.4V9.58h1.8V8.29A2.61,2.61,0,0,1,13,5.4h2.6V7.77H13.81a.58.58,0,0,0-.61.66V9.58h2.56Z' style='fill:%23687480'/%3E%3C/g%3E%3C/g%3E%3C/svg%3E\")\n no-repeat;\n}\n\n.myob-social-links .linkedin a:before {\n background: url(\"data:image/svg+xml;charset=utf8,%3Csvg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 24 24'%3E%3Ctitle%3EAsset 5%3C/title%3E%3Cg id='Layer_2' data-name='Layer 2'%3E%3Cg id='Layer_1-2' data-name='Layer 1'%3E%3Cpath d='M12,24A12,12,0,1,0,0,12,12,12,0,0,0,12,24Zm1.82-10.71a1.2,1.2,0,0,0-1.2,1.2v4.2h-3s0-7.2,0-7.8h3v.89A3.72,3.72,0,0,1,15,10.91c1.78,0,3,1.29,3,3.78v4H15v-4.2A1.2,1.2,0,0,0,13.82,13.29ZM6.91,9.69h0A1.47,1.47,0,0,1,5.4,8.2,1.44,1.44,0,0,1,6.93,6.75a1.47,1.47,0,1,1,0,2.94Zm1.51,9h-3v-7.8h3Z' style='fill:%23687480'/%3E%3C/g%3E%3C/g%3E%3C/svg%3E\")\n no-repeat;\n}\n\n.myob-social-links .instagram a:before {\n background: url(\"data:image/svg+xml;base64,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\")\n 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Hi DePez , the adjustment you have made reduces stock by $66,413.46, and increases cost of sale by the same amount, therefore reducing profit. But the initial sales of the product were made for zero cost, and therefore the profit on those sales was 100%, a lot higher than it should have been.
\n
So the adjustment you made is bringing the cost of sales back to a more accurate figure and must not be deleted.
\n
\n
It is not possible to change prior build entries, and unfortunately it is no longer possible to force a change to the cost of sale on an item invoice by editing and re-recording it.
\n
\n
Run an Analyse Sales (Item) summary report for the period of those sales and multiply out the unit sales times $517.39 and see how close to the $66k it comes. This helps to validate the adjustment. If you want to see the invoice detail for those sales, run an Item Sales Detail report and edit the report to show extra fields (gross margin dollars and percent).
Hi , the adjustment you have made reduces stock by $66,413.46, and increases cost of sale by the same amount, therefore reducing profit. But the initial sales of the product were made for zero cost, and therefore the profit on those sales was 100%, a lot higher than it should have been.
\n
So the adjustment you made is bringing the cost of sales back to a more accurate figure and must not be deleted.
\n
\n
It is not possible to change prior build entries, and unfortunately it is no longer possible to force a change to the cost of sale on an item invoice by editing and re-recording it.
\n
\n
Run an Analyse Sales (Item) summary report for the period of those sales and multiply out the unit sales times $517.39 and see how close to the $66k it comes. This helps to validate the adjustment. If you want to see the invoice detail for those sales, run an Item Sales Detail report and edit the report to show extra fields (gross margin dollars and percent).
Brisbane based MYOB Certified Consultant over 20 years experience especially with MYOB AR Inventory. Happy to help. Please feel free to call me on 0413 584 818. Happy to chat and come on site (depending on where you are!)
Brisbane based MYOB Certified Consultant over 20 years experience especially with MYOB AR Inventory. Happy to help. Please feel free to call me on 0413 584 818. Happy to chat and come on site (depending on where you are!)
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Thanks
\n
Sas
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