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Inventory valutation Quantity vs Item Inventory quantity

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Posted on by Community member 26
Hi everyone,
 
I  have one item, which when I run the Inventory valuation report, has a quantity of 46. But the item, has on the item card, 96 in quantity. Difference of 50. This is some posted reciept from 2022, which was not fully correct made. Nevertheless, How can I adjust the inventory / Quantity just on the Item card, and not affecting the inventory valuation report?
 
We are in the process of fixing our warehouse, and I want all this being correct and right.
 
So, 
TL:DR :

How can I adjust an inventory quantity without affecting the inventory valuation report?
 
Thanks, 
 
Kind regards,
Tobias
Categories:
Inventory and warehouse management
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  • Suggested answer
    Yi Yong Profile Picture
    Yi Yong 161 on at
    Inventory valutation Quantity vs Item Inventory quantity
    Hello,
     
    If that happens to be the case, you may need to issue a purchase invoice to close the posted purchase receipt; otherwise, it will always remain under the expected cost.
    Then just issue a purchase credit memo afterwards to contra with the invoice.
  • Community member Profile Picture
    Community member 26 on at
    Inventory valutation Quantity vs Item Inventory quantity
    Hi Yi Yong,
     
    I tried do unbo the receipt, but got this error: 
    Remaining Quantity must be equal to '50' in Item Ledger Entry: Entry No.=1777. Current value is '0'.
     
    This will not affect my previous financial statements, or at least it should not. We have our inventory in a seperate excel-sheet, so all good. But still, I want to fix it in BC, so my inventory from an item perspective, is the same as in the "inventory valuation". 
     
    Inventory valuation = just invoiced items (here its an option to include expected cost and then the problem is gone, but that dont feel good).
    Item quantity on item card = invoiced + item received. 
     
    So, we are getting closer. If I would be able to Undo the reciept, we are all good. 

    Jun Wang:
    I agree. But still, its no bugg or something, just that we deliverd in / receipt the item, and then the invoice was not matched with the receipt. 
     
    Kind regards
  • Suggested answer
    Jun Wang Profile Picture
    Jun Wang 3,879 Super User on at
    Inventory valutation Quantity vs Item Inventory quantity
    this is not expected behavior. inventory valuation report include received not invoiced qty. The qty should be same with the qty on item card. I'll recommend to review if this happens to other items as well. 

    you mentioned a receipt was not correctly made in 2022, I'll suggest to find out how it was not correct and fix that transaction.

    Jun Wang
  • Suggested answer
    Yi Yong Profile Picture
    Yi Yong 161 on at
    Inventory valutation Quantity vs Item Inventory quantity
    Hello,
     
    From an audit or accounting point of view, it is best to invoice the purchase receipt and issue a credit memo for the G/L Account invoice.
     
    Otherwise, the easy way to make it balance is using Undo Receipt on the purchase receipt.
     
    Since this is a 2022 purchase receipt, the Undo entries will be posted to 2022 as well. If you are using Allow Posting To/From, you will need to open them.
     
    You might want to consider doing a journal entry for this as this will impact your previous financial statement.
  • Community member Profile Picture
    Community member 26 on at
    Inventory valutation Quantity vs Item Inventory quantity
    Hi Kaspars Semjonovs,
     
    The invoice is already posted (but not as the item, instead on an account basis, thats why the difference came in the first place).
    So I cannot post the invoice once again on an item basis. 
     
    Exactly. I know which post it is, and its one purchase receipt, which is posted +50. But that reciept is not invoiced, because that was done by the "account" instead of item. So, that is why I got the difference, because item inventory is included this receipt of 50, but the inventory valuation report, is not included this because its not invoiced. 
     
    If I include, "expected costs" as Yi Yong suggests, its included and has the same number, 96 pieces. 
     
    What I want to do, is, to adjust this receipt (cancel it out) or just adjust the number somehow. I just cannot find how. Item journal and a negative adjustment, affects both ways, so that is not the solution.
     
    Thanks,
  • Suggested answer
    KasparsSemjonovs Profile Picture
    KasparsSemjonovs 3,099 Super User on at
    Inventory valutation Quantity vs Item Inventory quantity
    To get Expected cost to Actual cost, You need to post the invoice for the Receipt.
  • Suggested answer
    KasparsSemjonovs Profile Picture
    KasparsSemjonovs 3,099 Super User on at
    Inventory valutation Quantity vs Item Inventory quantity
    It is really weird that those Quantities are different. 
    Have You re-checked the Quantities by exporting Item Ledger Entries to Excel and calculating the quantities yourself? 

    Could be there is one Receipt with future date, and that is why it doesn't show up in Inventory Valuation with Your date filters? You should be able to find the exact Item Ledger Entry that is causing this difference. Then investigate it. If You cannot resolve it, post a screenshot of How You run the report for this one item, and how does the Item Ledger Entry look like.
  • Community member Profile Picture
    Community member 26 on at
    Inventory valutation Quantity vs Item Inventory quantity
    Hi Yi Yong,
     
    Yes, current date. 
     
    You are absolutly right, when I include the Expected cost, the number is correct, 96 pieces. 
     
    Then, maybe, I need to get this expected cost to "actual" cost, and then the problem is solved. Do you know how I can do that?
     
    (If its affecting the inventory on the G/L it could be OK, I can just adjust it afterwards, as we are not for the moment using BC as inventory ( we do a inventory manually in excel each month, but our goal is to get it in BC, therefore I am in the working of fixing it).
     
    Thanks,
     
    Kind regards,
    Tobias
  • Suggested answer
    Yi Yong Profile Picture
    Yi Yong 161 on at
    Inventory valutation Quantity vs Item Inventory quantity
    Hello,
     
    There shouldn't be a case where the quantity on the Inventory Valuation Report and the quantity shown on the Item's card will be different if you are generating at the current date.
     
    Did you turn on 'Include Expected Cost' when you ran the Inventory Valuation Report?
    It is likely that there are quantities received but not invoiced, specifically the one purchase receipt you mentioned with 50+ qty.
  • Community member Profile Picture
    Community member 26 on at
    Inventory valutation Quantity vs Item Inventory quantity
    Hi YUN ZHU,
     
    This is not a matter of value, its about the quantity.
     
    If I go to the item, the inventory is 96. But when I do the Inventory valuation report, its 46. 
     
    I think its one purchase receipt which was not matched / correct, and as "Inventory at the Item card" counts also this, its like 50 +. But, I want to adjust that, so both inventory on the "item" and when I run the Inventory valuation report, is 46, and not 96 and 46. 
     
    Kind regards,

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