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Inventory Valuation Report

Posted on by 13
Hi there,
 
My client is using NAV2017 and during financial audit, the auditor asked the questions as to inventory valuation report.
 
By default, NAV calculates item quantity and unit cost via value entries tables from open inventory balance as of System GoLive. This client was started to use NAV 2021. So, when running inventory valuation report, NAV tries to pull out all data from 2021 to sum-up.
 
During financial audit, auditor picked one item as sample for audit testing. Via value entries data, auditor calculates the unit cost from recent transaction by using Excel. However, inventory valuation shows different unit cost. The auditor understood NAV default report (Inventory valuation report) is calculating from beginning but he is wondering if there is another way to evaluate inventory unit cost via recent transactions instead of running inventory valuation report. Without developing custom report, is there any workaround to response to the auditor's question?
 
By the way, the client installed Jet-report by themselves, and the controller of the client is familiar with Jet Report even if my company does not support Jet-report.. If Jet report can be a tool what they are looking for, could you let me know which table they should to setup (maybe, either value entries tables or item ledger entries) to create their own custom report by Jet report?
 
Regards,
  • Suggested answer
    Valentin Castravet Profile Picture
    Valentin Castravet 24,002 Super User 2024 Season 2 on at
    Inventory Valuation Report
    You can use the item ledger entries and/or value entries in jet reports.
     
  • Suggested answer
    Jun Wang Profile Picture
    Jun Wang 7,407 Super User 2024 Season 2 on at
    Inventory Valuation Report
    This needs to be analyzed depending on what costing method the customer is using for a certain item. It also depending on the inventory setup and if the transactions are carried out correctly. There are various factors which affect item valuation. Choose an item for each costing method and analyze if the costing calculated by the system is correct. If it is off, you need to dive into the transactions to troubleshoot.
  • Suggested answer
    YUN ZHU Profile Picture
    YUN ZHU 71,839 Super User 2024 Season 2 on at
    Inventory Valuation Report
    You can try to extract this data manually in the value entries.
     
    Hope this can give you some hints.
    Thanks
    ZHU

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