Physical inventory by item group

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Posted on by Mirza Mujib Ur Rahm...

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Hi all,

One of the items in "physical inventory by item group" report shows huge value in negative for both financial and inventory value.

I asked the user to make inventory recalculation again but still it shows the same value.

Thanks

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Guy Terry 29,011 Moderator on at

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On the Inventory model group for the Item, what is the Inventory model? And is 'Include physical value' ticked?

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Mirza Mujib Ur Rahm... 1,443 on at

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Hi Terry,

Its inventory model group is "Weighted Average by date" and yeah it is ticked for "Include physical value".

Thanks Terry

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Guy Terry 29,011 Moderator on at

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Go to Inventory management -> Inquiries -> Transactions -> Transactions to open the Inventory transactions inquiry. Press Ctrl + F3 to open the Advanced Filter. Set your filter like this:

AX will show any transactions for your item that are 'Registered'. Registered is a status that means the items are in stock, but do not have a value. It is possible to sell these items. When this happens, the value of the items will be negative. Is this what has happened in your scenario?

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Mirza Mujib Ur Rahm... 1,443 on at

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Hi Terry,

I made the above filter and found nothing in my transaction inquiry grid.

Yeah we've huge negative value for both Inventory & Financial value for an item.

Thanks Terry,

Anymore suggestions and help would be really helpful.

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Guy Terry 29,011 Moderator on at

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It means that your 'Issues' (e.g. Sales) have been made at a higher cost than the total of all your costed Receipts (e.g. Purchase orders).

Since you have 'Include physical value' ticked, the only way to create an uncosted receipt is to use the Registered status. But you don't have any of those.

Can you look at the inventory transactions for the item? I can't really say exactly what you're looking for, other than what I describe above.

Oh, you don't run negative inventory, do you?

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Mirza Mujib Ur Rahm... 1,443 on at

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Hi Terry,

Thanks again for your kind help.

Yeah we do run negative inventory for financial.

Now can u please guide me how can I reduce this item financial & inventory value from huge negative value to 120 .

Thanks,

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5400 7,162 on at

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X++ finance is double entry system. if you want to reduce value, same value will go to another GL account.

You can go to profit and loss journal and adjust the value and quantity. Make sure you have select required GL account for offset and invent item group setup.

Thanks

Bhaskar

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Weaveriski 23,620 Moderator on at

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The costing updates (inventory recalculation) will never run whilst you have negative stock. Therefore to correct you need to not be in this position by dimension. So make sure you do not have physical negative inventory, then run the inventory recalculation, then review.

"Physically" you cannot have negative stock, so you should be able to correct it, but until then the figures will remain.

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Mirza Mujib Ur Rahm... 1,443 on at

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Hi Roy,

But this value refers to our last year inventory which we've already closed it.

How do we adjust the last year values from this year through Profit/loss journal.

Thanks Roy,

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Mirza Mujib Ur Rahm... 1,443 on at

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Hi Steven,

Can u please tell me what u mean by "So make sure you do not have physical negative inventory".

Thanks,

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