Inventory adjustments

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PKH1
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Inventory adjustments

HI 

during my leave a staff member entered a EUR purchase and unfortunately put a few "0" too many into the forex value. This resulted in a A$ value of 2,428,593 instead of A$ 24,285.93.

I corrected the exchange rate in the purchase and tried to adjust the values through a value adjustment (see Capture.png). I got the value through the Invtory summary (MYOB2.pdf) but still can't update the purchase getting the zero value message (Capture1.png)

What do I do wrong?

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Mike_James
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Re: Inventory adjustments

Hi @PKH1 , it seems you are trying to reduce the inventory value by adjustment, AND reduce the value of the purchase. I suggest that you can't do both. If you want the purchase to be correct, then before changing it, delete the IJ, then make sure the inventory value per the item summary (which is in AUD) is the same as the current AUD purchase value (by doing another IJ), then make your changes to the purchase. 

 


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise ProActive - Custom Reporting from MYOB programs
(MYOB Business, including AccountRight Live, AccountRight v19.x and exo Payroll)

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PKH1
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Re: Inventory adjustments

Hello Mike,

somehow it doesn't work for me.

Here is what I did. The purchase value of the LED bulb is

EUR 19.50, the exchange rate is 0.6426 and I have 8 bulbs still in stock.

 

19.50/0.6426x8 = A$ 242.80.

I adjusted the value of this item accordingly the result is shown in the enclosed item list summary.

My next step is to open the purchase (which has the correct EUR value) and change the exchange rate from 0.00643 (original applied value) to 0.6326 (correct rate as per RBA). Then I try to compute this purchase in clicking ok and still get the error message for the item.

What is it that I do wrong?

 

regards

Peter

Mike_James
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Re: Inventory adjustments

Hi @PKH1 , is the purchase also for 8 items?


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise ProActive - Custom Reporting from MYOB programs
(MYOB Business, including AccountRight Live, AccountRight v19.x and exo Payroll)

Bulk download of attachments (more details...)

PKH1
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Re: Inventory adjustments

HI Mike,

no the purchase was for 10 items, two have been sold already

 

regards

Peter

Mike_James
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Re: Inventory adjustments

Hi @PKH1 , as I thought. The onhand qty and value must be adjusted via IJ to be the same as the INCORRECT purchase line, then you can adjust the purchase. 

 

Edited to clarify.


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise ProActive - Custom Reporting from MYOB programs
(MYOB Business, including AccountRight Live, AccountRight v19.x and exo Payroll)

Bulk download of attachments (more details...)

PKH1
Experienced Cover User
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Re: Inventory adjustments

Mike,

thanks for your help. I was complicated but I finally managed to get it right.

The P&L is in order as well

cheers

Peter

Mike_James
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Re: Inventory adjustments

@PKH1 , good to hear, glad it all worked out!


Regards, Mike (mike@datawise.co.nz)
DataWise Limited (www.datawise.co.nz), developers of:
DataWise ProActive - Custom Reporting from MYOB programs
(MYOB Business, including AccountRight Live, AccountRight v19.x and exo Payroll)

Bulk download of attachments (more details...)

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