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Open stock balance revaluation

Former Member
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Hi experts,

one of my customers is using continuous stock with moving average method at warehouse level.

the stock open balances were registered in january with many errors in quantities and values.

Now they want to correct those values.

we try to use revaluation function, but it seems not useful due it consider always the current stock.

if we use good receipts, we can increas quantities and value but we change the item cost too.

if we use good issues, we can reduce quantities but the value depends on the current cost.

can you help me?

thanks

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Answers (1)

Answers (1)

Johan_H
Active Contributor
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Hi Ivan,

You should probably perform such a correction in two steps:

  1. Do a normal stock taking process to correct quantities. Do not worry about values.
  2. Use the revaluation function to correct all values. The revaluation function will in effect create a new start point for the moving average calculation, and you will now already have the correct quantities.

I recommend that you create a new company database, and that you then restore a recent backup of your live database over that database. This will give you a test database with all current data. Now you can perform the suggested correction method with two or three items in the test database, and check that the outcome is as expected.

Additionally you will have a test database for future development and correction needs. Just restore the most recent live backup over it, each time you want to test something.

Regards,

Johan

Former Member
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Hi Johan,

as you can see in the image below, they've already done stock correction in February but with registration date 1st of january.

The system have used the current cost (moving avg) in feb but it was wrong due uom conversion.

Now they want to correct the stock value in january but it seems not possible, the system uses the current stock quantity (zero) and current cost.

Is it correct? that means it is really not possible to change value in the past?

thanks

Ivan

Johan_H
Active Contributor
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Hi Ivan,

Please test all of the following in your test database first (see my previous answer):

As far as I can tell, it should be possible. You will need to use the Inventory Revaluation document (Inventory > Inventory Transactions > Inventory Revaluation).

This functionality lets you determine the quantity and warehouse for which you want to change the value and you can change the Posting and Document dates to a date in the past.

For the date in the past, you may need to check and/or change that you are allowed to do so: Administration > System Initialization > Document Settings > Block documents with earlier Posting Date.

To determine the correct quantities to reevaluate you would do best to use the Inventory Audit Report (Inventory > Inventory Reports > Inventory Audit Report).

Regards,

Johan

julie_jamieson2
Active Contributor
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Any change you make now, even if backdated will not affect any documents already processed