Re: [SL] SL: Receiving Product - value of inventory not changing, yet quantity in stock does?

[David B. <dav...@sb...>]

It's been my experience that this is how accrual accounting systems
work.  I have no experience with cash accounting systems.  When I am
preparing my "Month End" figures, I perform what I consider an "Open
Receiving Report" which calculates the value of what has been received
but has not had a vendor invoice booked against it.  Run an Inventory
Valuation report (all items or parts, line totals and what not)...this
figure minus the open receiving value should equal your balance sheet
inventory.  If it does not an adjustment may be in order.

David Boyle

On Mon, 2009-06-01 at 14:31 -0700, je...@ix... wrote:
> It should though, my exact situation was we received the product on the
> last day of May, and the invoice from our vendor hasn't arrived in the mail
> yet. What do I do with my Balance Sheet? My inventory is understated by
> 150k at least.
> 
> Jeff
> 
> 
> On Mon, 01 Jun 2009 21:14:28 +0000, David Boyle <dav...@sb...>
> wrote:
> > Inventory value does not increase until you book a vendor invoice
> > against the PO.
> > 
> > On Mon, 2009-06-01 at 14:03 -0700, je...@ix... wrote:
> >> This is a strange situation.
> >>
> >> We created a purchase order for some product. Today we received the
> >> product.
> >> I see that our quantity received, has increased by the correct amount,
> >> however the value of our inventory has not changed. The PO is currently
> >> open.
> >>
> >> Why would my inventory value not increase?
> >>
> >>
> >> The part looks correctly setup, inventory to the inventory account,
> > income
> >> to our sales account, and expense to cost of goods sold expense account.
> >>
> >>
> >> Jeff
> >>
> >>
> >>
> >
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> >
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> OpenSolaris 2009.06 is a cutting edge operating system for enterprises 
> looking to deploy the next generation of Solaris that includes the latest 
> innovations from Sun and the OpenSource community. Download a copy and 
> enjoy capabilities such as Networking, Storage and Virtualization. 
> Go to: http://p.sf.net/sfu/opensolaris-get
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