In IC 8.1C (101224) there is a problem with the Item Valuation Report. When you print an Item Valuation "as of" any previous date, the number the report comes up with is not even close to what the number should actually be.

We are required to give our accountant an Item Valuation as of March 31 (our year end) that matches the number in the GL for March 31. Since there were entries in April and May to Inventory that were dated back to March 31, the valuation report that was done on March 31 is no longer accurate. We need the item valuation as of March 31 to include the entries to inventory that were done in April and May and dated back to March.

Is this something Softrak can fix easily?? The only work around I have is to use the Item Valuation that was printed on March 31, 2011 and print the ledger entries that were done in April and May to Inventory and paste it (with scotch tape) to the report and then write the correct total.

Hi, Susan,

The Item Valuation report is functioning as it should.

If you run the report using the same date as the 'system' date (not the session/log on date), the report is based on all transactions in history and reports (among other things) the Actual Cost, Recent Cost, Selling Price and Standard Cost.

If you run the report backdating it to March 31st, the report calculates out all transactions in history from the system date backward until it reaches the first transaction in history having the date requested for the report (eg. March 31st). The format for the report is a little different as it is impossible to backdate and calculate certain information. Therefore, only the Avg. Unit Value and the Actual Cost are reported.

It can only report on transactions that actually exist in transaction history.

When you back date the report to March 31, the calculating out of all transactions in history from the system date backward, does not work correctly.

Hi Susan,

We're pretty sure it does, but if you'd like to upload your Inventory data with a specific item to check we'll take a look.

Maybe Doug Dickie can weigh in. Based on conversations at AOC it was my understanding that it's a known issue at least among some of us. It has something to do with when the report "backs out the entries" it adds items instead of subtracting? Doug and I spoke to Steve about it. Doug mentioned he has several clients with the same problem and hoping for a fix soon.

Tech Support

There is an error in the report, as previously reported. In talking with Steve during AOC I got the impression he was aware of this issue.

Hi, Doug/Susan,

Yes, if this is the same issue as Doug previously reported, you're correct. Sorry but there wasn't enough information in the earlier post to really put these two issues together.

As you know, R&D is aware of the issue.

Oh - that issue.

A Service Pack to Adagio Inventory is being planned to deal with that. Sorry I misunderstood.

Today I am sending our paperwork to our accountant for our March 31 year end. Based on these replies am I correct in understanding that there is no possible way to produce an inventory report as of March 31 that correctly includes the April/May entries?

While I'd be happy to accept the commission to rewrite the report, the economical solution would be to wait for the service pack.