Supply chain | Supply Chain Management, Commerce

Inventory Aging Report showing negative on-hand value

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Posted on by Fischjm78

We are working with our accountant and they are asking for our inventory value. When we run an aging report it is close to what we calculate but it is off. The aging report as pictured shows a negative value, when we pull the on hand report for inventory it says we have a positive value on hand. Is this a good report to run for inventory value? The inventory value report has the same issue. What in my setup maybe causing this.

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UbaidNoor 74 on at

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Inventory Aging Report showing negative on-hand value

Do one thing, go to the item transactions, export all of them to the excel and then do a simple math calculation by summing up the cost column and the quantity column and see if this is matching with the system report.

If it is matching then you will easily track the transaction that is causing this issue.

I believe you have some orders in a received status which doesn't increase the cost financially
Fischjm78 34 on at

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Inventory Aging Report showing negative on-hand value

That did not work, There should be a positive value to this item because physically they are sitting in my ware house and have not been sold. They are materials that go into a production to make a final product that we sell. No reservation against the product. We are using a standard costing model for this product.
UbaidNoor 74 on at

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Inventory Aging Report showing negative on-hand value

You need to understand the concept of physical QUANTITY and financial VALUE.

Your qty is in +ve status which is fine but your value is negative which can be true because you might have received and sold the items physically but the invoices (actual financial value) is not yet posted in the system.

What I recommend here, is please try to run the inventory recalculation for this item only and see if this solves your issue.
If it does please mark the answer as verified.
Fischjm78 34 on at

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Inventory Aging Report showing negative on-hand value

Financial Negative inventory is checked for this item model group.
Fischjm78 34 on at

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Inventory Aging Report showing negative on-hand value

This is my physical onhand for that item.
UbaidNoor 74 on at

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Inventory Aging Report showing negative on-hand value

can you please share the snapshot of the onhand for the same item with the physical and financial cost showing in this snapshot?

Additionally, please check if the item model group attached to the product is having the FINANCIAL NEGATIVE INVENTORY selected as YES or NO?
Fischjm78 34 on at

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Inventory Aging Report showing negative on-hand value

Correction this is an inventory value report that is showing negative qty's.
UbaidNoor 74 on at

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Inventory Aging Report showing negative on-hand value

best report for that is INVENTORY VALUE REPORT STORAGE
Fischjm78 34 on at

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Inventory Aging Report showing negative on-hand value

The inventory Value report is showing a negative value? When I look at my on hand report it is a positive value, we do not use negative inventory here. What is causing this?
Fischjm78 34 on at

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Inventory Aging Report showing negative on-hand value

I want to see the value of my inventory on hand. What is the best report for that?