Current value of an inventory item discrepancy between items register report and items register
Hi friends. We have a weird issue with some of our inventory. For some reason the value of certain items is overstated by thousands of dollars. If you look at this screenshot below it shows the Items Register report for an item. The first transaction on 14 March 2024 we buy 11,040 units of it for $7,838 and it correctly shows the overall value to be $7,838. However in the Items Register it shows the current value to be $12,544.90. I can't understand how (a) the value is that high when it should just be $7,838 and (b) how the Items Register could be showing one value and the Items Register report is showing another value. Any ideas?
Inventory count issues
I have the inventory however some items are not showing up on basic reports or in the product detail - just on the Items Register Report. (I've read of similar issues - maybe as we have dated the purchases earlier in the year). The stock is there and we cannot see it if we open the product detail or do an Analyse Inv report. Help!
Item Information Page Missing clickable arrows
Good afternoon I used to be able to see the blue clickable arrows in the items information page which takes me directly to the items register, see snippet below, first snippet is from my desktop and the second snippet is from my colleagues. Have I accidentally switched a setting off? How can I get this setting back?
Inventory Quotes - COS or Asset Account
Hi, Accounts used: 5-0501 Cost of Goods Sold - Inventory (Profit & Loss) 1-1801 Inventory 2 (Balance Sheet) We have a client who create quotes (adding a job to it). He uses a COGS account eg. 5-0501 when the quote is created - this means the stock is going through the profit and loss, but it should not hit the P&L yet as the goods are not sold yet. A suggestion by their head office is to use another Inventory account eg. 1-1801 Inventory 2 and keep all the stock in here until such time as the quote is converted into a Bill. The reason for using the COGS 5-0501 account is to be able to "get the stock out" linked to the spesific job number and to add the labour component to the bill as well. What is the best way to deal with this: 1. have the stock coded to the liability account 1-1801 Inventory 2 and then journal the total out to the COGS 5-0501 at month end/when the quote is converted into a bill OR is their a better way to do this automatically in MYOB? Do not want to create unnecessary journals? 2. Should the stock be coded to the 5-0501 account when the quote is drafted and then work the other way around by adjusting the stock to 1-1801 at month end?
MOVE ITEMS - Report Required
Good day, We would like to actually see a report of the moved items done (internal stock transfers). At the moment; there is no visibility on the moved items. Similarly to all other items transactions such as Sales, Purchases, Inventory Adjustments under the "ITEMS REGISTER" - INVENTORY How is this possible? Appreciate your feedback.
Unit Cost on Inventory showing as $0 when should have value
I have a client that has reached out today in relation to their inventory. Due to how they were set up years ago they adjust all stock to a 0 count before putting in the current stock count. I am not sure why they take this approach, however it works for them. When the initial adjustment was put through a Unit Cost was appearing for the stock items. Now they are trying to put the actual stock count in the Unit Cost shows as $0. A review of a few individual stock items are also now showing no Average Cost, although the buying and selling details are still in the system. With them adjusting all stock to 0 initially, would that affect the average cost price? They dealt with the stocktake the same way in the 2023 financial year without any issues.
I Inventory.
Afternoon, the company I work for hasn't utilised Inventory at all really, they have no stock entered, so no products have the "I Inventory" box ticked. Could someone please tell me if I have to go into every single product then tick the I Inventory section, or can this be done by exporting then change this on the report and import it back into MYOB?? We are hoping to start this as of July 1st.
