Current value of item is higher than it should be

[myob11]

Hi,

I'm wondering where the amount in 'Current Value' comes from in here in the Items Register report.

As you can see from the screenshot, the purchase value is $6016 however the current value is $17,508.

This is causing problems with inventory. What is causing this and how can I correct it?

Edit to add a screenshot of the original purchase to show it's $6016.

Thank you

[Mike_James]

Hi @myob11 , welcome to the forum. What you have attached is a screenshot of the item register, this screen display is known to have problems. Can you run the item register detail report instead, for the same item, and see what it shows. The report is usually better than the screen display. 

[myob11]

Thank you, I'm very new at all this! I've attached a screenshot of the Item Register detail report as you've suggested - it shows current value of $11,492

[myob11]

Hello, just checking if there is anyone that can help with this? It seems it is an error in the system, as the original purchase has only ever been $6,016. I don't understand why the value is higher.

There was an edit made to the original purchase, which was the date, however the figure wasn't changed. Could this have effected the value at all?

I have tried to call MYOB on the phone but have been hold for multiple days in a row without being able to get through to anyone. 

[Sean_DC]

Hi @myob11 

Thank you for your post and welcome to the MYOB Community Forum. I'm sorry to hear that no one has responded to you yet. 

I would suggest creating an Inventory Journal Transaction to correct the items' current value.  You may seek assistance from your accountant for this. You can also change the current value or quantity on hand of an item through Inventory Adjustment (Inventory >> Adjust Inventory). This Help Article, Making inventory adjustments, has more detailed information about adjusting inventory.

If it's still not able to fix the current value, let me know. 

Please feel free to post again. I'm happy to assist further.

If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.

[myob11]

Hi @Sean_DC thanks for your response and I appreciate you linking the article for inventory adjustments.

My problem with creating an inventory adjustment is selecting the account for the value to be assigned to, as the value is not correct.

The value seems to be an error in the way MYOB has recorded the transaction - the original invoice amount was only ever $6016 so I just don't know where the $11,492 comes from. 

[Sean_DC]

Hi @myob11 

No worries, thanks for clarifying that. It would be best if you can send me a private message so we can investigate this further. I would just need the following for me to have it checked:

• Serial Number
• Company File ID (Help >> About MYOB AccountRight)
• Account Name (Company Name)
• Your full name and email address
• Any screenshots or reports showing the error/issue 

[gavin12345]

Hi @myob11 

When it comes to the inventory module, MYOB 'has a mind of its own' or does its own thing. Take for example the difference between the Register total value $17508 and the Register Detail Report value of $11492, a difference of $6016. Where did this come from? Take a guess.

You mentioned that the invoice was edited, however amount was not changed. When the invoice was edited, part of MYOB decided this was a new transaction, part decided it wasn't while another part thought somewhare in between, or perhaps it was edited twice. So you end up with 3 figures, 6016, 11492, and 17508.

MYOB doesn't handle inventory edits too well, nor things like item credit adjustments. The 11492 is possibly 6016 + 5476 (which is likely the gst exclusive value of 6016 with a minor rounding error). Why? Who knows. And I doubt MYOB could be able to tell you even if they analyse the file.

Suggestion - adjust the value as proposed by @Sean_DC  and get it right going forward. And avoid editing inventory transactions if at all possible. It is better to delete and re-enter if an edit is required - based on my experience.

Regards

Gavin