Average cost error

Hi All,

FYI, I worked out what has happened but still don't have a solution. I have lodge a support ticket.

I appears that MYOB has revalued stock and hasn't taken the discount on the purchase order into account.

PO has 128 items @ $555 less 55% = $31,968.00, $249.75 Each

MYOB Re Value 128 x $555  $71,040.00 over valued by $39,072.00.

Will let you know outcome.

Hi SydLift, 

Cheers for sending through the screenshot. I’ve had a look, but it’s tricky to pin down exactly why your average cost has jumped, there could be heaps of reasons. Generally, that number only comes from the total items and their overall value. Most times, a recent transaction is the culprit.

The best way to get to the bottom of it is to check the item’s transaction history and see when the average cost started climbing. Once you spot the one that’s thrown things out, you can either tweak that transaction or pop through an inventory adjustment if it can’t be changed. If you need more information regarding how that average cost came about, I recommend reading through this article: Average Cost.

Regards,
Genreve 

Hi Genreve,

I totally understand how average cost should work but clearly the MYOB software doesn't.

This hasn't just increased the cost it has more than doubled.

Why should we have to complete a inventory adjustment for 31K and pay the tax on that write off.

This does not give me any confidence in the software.

We have had this happen before but not to this extent, we only picked it up through the P&L when we found a negative profit.

Not a happy customer.

Now how do we explain this, when I print the movement screen it is completely different to what is on the computer and is the correct figures.

Non of this make sense  

Hi SydLift​ , it is well known that the onscreen register has issues, and that the printed register, for the most part, is accurate,  except when multiple locations are involved. It's possible that inventory correction scripts may help.

Can someone contact me to run an inventory correction script please.

This is showing a 30K loss on our P&L

Hi SydLift,

If that average cost error’s still giving you grief after having a go at the workarounds, jump on our live chat team with our virtual assistant MOCA or raise a support ticket through MyAccount. We’ll dig deeper and get it sorted for you.

Cheers,

Shella