I have a client using IC 8.1D (120126)

It seems that in the Adagio Inventory program you can never go back to a month end day and print an accurate inventory report of exactly what you had on that day in quantity and cost. Is there any way around this? I’ve checked inventory balances to months ago for the client, sub ledger to ledger, they are always off.

Just wondering if there’s a solution for this.

Thanks.

Hi Mach

The Item Valuation report can be back-dated. I have read postings that indicate that the figures may not be accurate, but if so I'm sure Softrak would like feedback so they can fix it.

Maybe you can tell us why you think there is a problem with using that report.

Steve

Thanks a lot Steve - I'll take a look to see what I can do.

Backdating the Item Valuation report relies on a complete inventory transaction history, because the amounts as of a date are calculated from the current values plus/minus the values from history. If history is ever purged, or OE/PO Day End (or anything else that writes to inventory history) has not been run, or any transaction history data value is wrong for any reason, then this will throw off the results of a backed Item Valuation report (or Stock Card report).

Yes, we have had a couple of people tell us the Item Valuation report isn't correct, in the past. We made these two fixes to Adagio Inventory 8.1C (2011.07.13):

- The back-dated Item Valuation reports was incorrect for items where receipt adjustments had been posted in Purchase Orders for Adagio. In addition, a receipt adjustment with a quantity increase and cost adjustment posted in Adagio Inventory was also incorrect (receipt returns were correct). The item valuation report was adding cost when it should be subtracted. This caused the back-dated Item Valuation reports to be incorrect for the item.

- When a receipt entered in Adagio Inventory was adjusted to change the cost (but not the quantity), a receipt adjustment record was not posted to the transaction history file. This caused the Transaction History and back-dated Item Valuation reports to be incorrect for the item. It has been corrected but the back-dated Item Valuation report will continue to be incorrect for the item.

Since you indicated that the client is using version 8.1D, you'll need to first determine that the Item Valuation report is correct without using the backdating option. If it is correct, then you'll need to determine whether all the historical transactions (related to particular items) are correctly in IC since the last month end is run. Note that the second fix mentioned above is related to an incorrect value written to IC History, thus backdating the report will result in different values than the report when printed live back on the month end date.

Currently, there are no known problems with the results of backdating the item valuation report, provided the data is complete and correct.

Yes, I was just about to post and say that our client already runs this report and it's incorrect for them.

For example, they printed inventory on March 2nd and again today (backdated) and there is an approx $13k diff on $1.37 mil in inventory.

I'll get back to them with what you mentioned - thanks for the help.

Constantly having to deal with this report not being correct finally became such a problem that we invested some time into determining why it doesn't work. We haven't tested all possible scenarios so in my estimation these are not all of the errors:

Inventory Valuation Report doesn’t agree with General Ledger when the report is backdated because:

1. When the backdated quantity is zero, the residual value includes the Current Total Cost from the Item Master.
2. When the current quantity is zero, and the backdated quantity is not, ignores the current residual cost when calculating the backdated Total Cost.
3. When the current quantity is zero, ignores the Cost Only adjustments.
4. Adjusting the quantity only to bring the current quantity to 1, the backdated cost doesn’t add in any manner that we could determine.
5. Even though, it doesn’t affect the cost. This report shows the quantity removed from inventory (Rec. Return) when in PO it was setup not to return from stock. So the Quantity on Hand is not correct.

Thanks for the detailed analysis Doug. Providing a backdated version of this report is one of the most complex areas of Inventory.

I think the main problem is the way the residual value is handled.
The report will be accurate if it just reverses the qty and cost of all the transactions as it is.
Residual value should be identified at item break even if it is not printed. If the quantity is zero, the cost can be accumulated in a total that could be printed at the end of the report. I don't know how it is done right now but doesn't seem to behave that way.