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?
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.
Inventory doesnt equal COGS -recap transactions (sales invoice)
How do I go about getting actual help from MYOB. I have called, had multiple phone calls and discussions, only to be given a generalised message from someone who clearly doesn't have an accounting background. When we post a sale for 2 particular product lines, the Inventory amount is correct in "recap transactions", however the COGS does not align with the inventory amount ( it is understated), so by default the balancing amount Sales therefore is incorrect. That means the sales doesnt gross up to align with what you might have manually calculated if you added up the amounts on the invoice. The so called support people who have emailed me and translated what someone else has told them, tell me that MYOB COGS can be based on average cost. Great, I dont have an issue with Fifo or average cost, however COGS cant be based on some other random number. If the recap transaction shows $2400 of underlying inventory (and I can prove it in the backend), then COGS cant be $400, it has to be equal to MYOB inventory Is there any way I can speak to someone.
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 Account balance not changing after inventory adjustment
Help please, i have started a new business and using account 19 premier. We did a stock adjustment to bring in the opening inventory - we did an import file. It imported all fine. When i look at inventory in MYOB - i see stock on hand, and i see each item has a value. Everything looks good. When i checked the balance of the inventory account in the chart of accounts the balance was $0. Very confused, i went and checked the transaction journal, and I see the value of the inventory we bought in, then an equivalent value credit applied. Have i done something wrong? Why is this credit there, i dont recall doing anything that would have resulted in this. Screen shot attached. I did the import un a few chunks of data, and each and every data import has a credit that matches the value import 100%. Surely i have missed a step. Account Right - desktop version.
