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Inventory Valuation Issues

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michelletencate
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Inventory Valuation Issues

Hi there

 

I am having issues with Accountright, particularly with inventory.  I get these errors when I close a period (refer Close Period Error).

I have random values of qty on hand but can't fix with Adjust Inventory as the qty is zero (refer Items on Hand).

I am trying to adjust an inventory item to zero and am getting an error about inventory cannot be less than zero (refer Adj Inv) however when I look at the Inventory, the amount I am adjusting out is correct (refer Inv Detail).

 

Please help thanks,

Michelle

 

Close Period Error.PNG
Items on Hand.PNG
Adj Inv.png
Inv Detail.PNG
4 REPLIES 4
Steven_M
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Re: Inventory Valuation Issues

Hi @michelletencate 


We do have a script (tool) that we can run over the company file that can help with those length numbers. So we can arrange for that to be run can you confirm the following information:

  • Where the company file is stored i.e. online or local
  • What the LAST FOUR DIGITS of the serial number is - Setup>>Company Information
  • What is the company file ID - Help>>About AccountRight

While it's likely not related but do you have two items with the name "C/Bond 0.55X251"? According to the first screenshot you have the number 04000111 and in a later screenshot you have the same item name but with item number 04000098. Just trying to make sure I don't have to get my eyes tested.

Kind regards,
Steven

MYOB Community Support

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michelletencate
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Re: Inventory Valuation Issues

Hi Steven

 

Thanks for this.  Hopefully it fixes all the issues.  Please

 

File is stored online.

Last four digits are 9171

File ID: 1

 

We have multiple items with the same description - they are actually the same profile of steel coil but different colours.  The colours are maintained under the Item Details "Description" as this is what is pulled when we process sales and purchases.

 

Regards

Michelle

 

04000098.PNG
04000111.PNG
Steven_M
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Re: Inventory Valuation Issues

Hi @michelletencate 

 

Thanks for confirming that information.

That tool has been run over the company file for you. As such you should be good to go - although, would recommend closing the company file and reopening it before recording that inventory adjustment.


Do let us know how you get on and if you require further assistance.

Thanks for that clarification of your items, steel makes sense now.

Kind regards,
Steven

MYOB Community Support

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michelletencate
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Re: Inventory Valuation Issues

Hi Steven

 

Thanks for this.

 

I have checked everything and processed the adjustment and no more warnings or issues Smiley Happy

 

Cheers

Michelle

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