In OE, when you do a shipment/invoice, the Totals tab has the Invoice Date. This is the date that is used for the IC Historical Transaction. It doesn't matter what date you use to sign into OE nor the date that you run Day End.

To see the 'ins and outs' of the item quantity, try previewing the Stock Card report in Inventory. This can be found under the Reports menu and the Stock Control section. This report calculates the qty on hand as of a past date in the same manner as the Item Valuation report, and you can see the 'running progress' of the quantity, within each location. In your case, use a date range of Dec 1 to 5 and hopefully you should see the correct Opening Qty and all the transactions you posted for that item.

alright, so i found that i was invoicing on the wrong date for some of them and began this again.

i started out with Dec 1 receiving 500 units @$1.00 and then dec 2 i shipped 100 units. i printed the audit list and cleared it like you said and i see both transactions in history on their proper dates. the inventory valuation shows the 500 units for dec 1 like it should and it shows the 400 units for dec 2nd like it should.

there is only one problem, why is the average cost that prints on the valuation report at 1.25? and not 1? 1.25 is 400 units divided by $500.....the 500 units shows and the total cost shows $500 but the average cost per unit is now wrong.

Sorry for all the confusion, but the someone who showed me how to use this, left out a lot of steps. i finally have it all. i see that when you print a historical item valuation, it does not include recent or standard costs...and the average cost takes the units on hand today and divides by the total for the historical date. Why does it do this?

thanks for you help.

Hello Laura,

Did you ship the 100 units before you processed the receipt of the 500 units? I think that a basic source of the confusion here is that Inventory is not strictly date sensitive. So, if I ship 100 units on an invoice dated December 2 and post it all the way through, I end up with -100 units in inventory with $0.00 cost. If I then receive 500 units for $500 on a receipt dated December 1st, I end up with 400 units in stock with a value of $500 regardless of the fact that the receipt is dated before the shipment. The receipt must be processed before the shipment.

The inventory valuation report does not include recent and standard costs because it does not know what those values were at the date the report is being printed (it only knows the current values), and those two numbers are not relevant to the inventory valuation number that is in the general ledger. Our thought was that the only reason to be printing a back dated inventory valuation report would be to get one that would tie back to the figure in the general ledger.

Make sense?

i did process the receipt first. i was going to try posting the receipt after and see what happens...i like to understand how things work so when i am dealing with the people in the office in charge of doing these things i know how to instruct them.

so basically, you are telling me that the # of units will be correct and the extended value but not the average cost per unit.

thanks
if that is the case, i have live data that is a mess and i don't know why. i have 2000 inventory items and the person in charge of receiving etc. made a mess if this is how this all works. how do you sort these things out.

I don't think that the report should have reported a value of 1.25 for the unit cost - it really should be 1.00. I processed a receipt and a shipment in a similar fashion as you indicated and saw that the unit cost on the report doesn't calculate with the correct values for the qty and total cost as of a date between the receipt and shipment dates.

We'll have to take a look at the report. The Quantity on Hand and Total Cost amounts are correct, if that helps your auditing situation.

i am not sure if i am supposed to ask this question here or in the technical question, but it goes along with this report. thanks for looking into that.

what order do things post in the program for the inventory module. Receipts, orders, transfers, adjustments, physical counts etc. for a date in time. I ask this because we had a physical count October 31, 2008 and closed the month. we have done transactions for November and have not closed that period yet. the purchaser has gone through the count in the meantime and has found that the input sheets were incorrect and i need to adjust the count. i could do the adjustments for november 1, but i can't do these adjustments to the physcial count because i don't know the best way to put them in and i don't know how the module orders the different things you can "do" to inventory on a specific date.

thanks
laura

Hi Laura,

Adagio keeps track of the Date for the purposes of backdating reports, but it does not keep track of Time. And the reports do not allow selecting a time to backdate to. Thus if a number of transactions of differing types (Receipts, Shipments, Transfers, etc) were all posted on the same day, you can get either all of them or none, but not some, as of a particular time in between.

Therefore it doesn't matter what order you post transactions if they all have the same date - reports such as the Item Valuation or the Stock Card report will select them all. If you want to record an Adjustment and have it separate from the Physical Inventory, you should give the Adjustment a date that is not the same (ie Nov 2). Thus you can print a Valuation as of Nov 1 for the Physical Count and another as of Nov 2 to take into account the recent Adjustment.

Or you may prefer to have the Adjustment as of Nov 1. How you post this adjustment is up to you.

Hi Laura,

Also to clarify, all transactions are posted directly to Adagio Inventory the oment they are posted, regardless of the date given on the transaction. There is no concept of a "post dated" transaction. What is reflected on an item inquiry is the current position of the item with all transactions posted (even if some of those transactions have dates in the future).

Thanks for the clarification this helps a lot, but to make sure i understand. So my Oct 31st count which was the last thing i input in before closing out month end, I cannot get that report back.

So the differences that i need to add or subtract to that inventory, i could date those november 30th and do a physical account on that date. I could do an adjustment and increase quantity, cost or both, but i would have to insert each adjusment one by one. Adagio doesn't have a way of going to the next product, or does it? or i could go through the inventory physical count and add the oct differences to the quantity and change the average cost to adjust for any difference in total valuation. Then when i print out the variance, it should match the errors we found in our oct 31 count?

Please advise if i am finally understanding you. or if you have a better idea to put this in. we have over 1900 items and approximately half of them are affected and i need to add additional items that were not on the inventory list in the computer as of the 31st of oct.

thanks
Laura

Hi Laura,

The only 'stored' quantity on hand for any location is the quantity right now, and not for any time in the past. These historical counts that can be printed on back-dated reports are based on calculations, so if all of the historical transactions are not correct for a particular item, then indeed you won't be able to get the Oct 31st count. Nor will the Oct 31 count be correct if the stored qty on hand for today is incorrect.

If you know the actual differences between what quantity is stored in Adagio Inventory (as of Nov 30) and the actual physical count (as of Nov 30), you could enter these differences either as an Adjustment or via a Physical Inventory process, dated as of Nov 30. That would update the backdated reports. You may want to try this on a copy of your data (rather than live data) and only for a couple of items to start with, to ensure that it is doing what you expect it to.

The fastest way to do a physical inventory adjustment is to use the Import/Export process. You can export the stored quantities for each item (from the computer) to an Excel spreadsheet.

Ensure that you choose the 'Qty on Hand' field as one of the fields to export (and later import) if you want to import differences in stock qty, not actual figures. Should you want to import actual stock counts, leave out the 'Qty on Hand' field from the export/re-import process.

In the Excel spreadsheet, the 'Qty on Hand' represents what is in the computer, and the 'Stock counted' represents the physical stock quantity on hand.

If you choose to do this, I can't recommend strongly enough that you do a backup of your Inventory data before posting the imported inventory reconciliation.