Non-zero value in inventory

[Nikki-OSF]

Hi, 

I am attempting to process a credit for goods returned and am receiving the message "Processing ...would leave this item with no items on hand and a non-zero value in inventory."

I have read other queries on this issue on the forum, and am of the understanding the average value needs to be the same as what I'm trying to credit, which it is. 

There have been mininal transactions against this item. The purchase from the supplier, the sale to the customer, the customer return and now the return of the goods to the supplier. The values all seem to be correct and yet, it won't process. 

Your assisstance is appreciated. 

Nikki

[Neil_M]

Hi @Nikki-OSF

Welcome to the MYOB Community Forum, I hope you find it a great resource.

When you receive that particular message, it generally means that the value of credit you are trying to put through on that transaction is less than the current value of the inventory you are trying to credit.

For example, if your inventory has 1 unit at $52.68, you cannot record a credit on that item for $50.00, as this will leave you with a notional $2.68 of nothingness, which is something that AccountRight is unable to handle.

You can view the current value of the item or items through the Item List, which ideally should be the same as the values on the credit you are trying to enter. If there is a discrepancy between these two figures you will need to adjust the current value of the items in your inventory through the Adjust Inventory feature of AccountRight to make the current value of that item equal to the value of the credit.

Do let us know how you get on with this

[Nikki-OSF]

Hi Neil, 

Thanks for your reply. I have checked the current value of the item I am trying to credit and it matches. There are 80 units available at $1.76 (incl GST) each which is exactly what I am trying to credit. Could there be another problem?

Thanks

Nikki

[gavin12345 · Accepted solution]

Hi @Nikki-OSF

These transactions can sometimes be frustrating, it may be a tiny rounding issue. I suggest you do similar to what @Neil_M suggested. However as your figures seem to match, I suggest you first do an Inventory Adjustment to change the on hand count to 81 and value $129.60 (ex GST) - in effect you are adding one item at cost of $1.60. Use your COGS account for the adjustment.

This should allow the credit to go through as after the credit your on hand count will be one, and MYOB will then accept a non-zero value. Once the credit is process, check the Item list for On Hand and Value for this Item. Then do another Inventory Adjustment to reduce count by 1 and value to zero, again use the COGS account for the adjustment.

This should get you to the end result you wanted. If the net effect on your COGS account is not zero, discuss this with your accountant or bookkeeper to see if any further adjustment is required.

Regards

Gavin

[Nikki-OSF]

Thanks Gavin