Calculate current and historical inventory value
The value of your stock on hand or inventory is an important piece of data for your accounting records. Cin7 Core allows you to calculate the stock on hand value for current and historical dates. The Inventory Movement Summary report shows this data.
Inventory Movement Summary report is available in the Report Scheduling section, so that it can be automatically generated depending on your required frequency.
Calculate stock on hand value
Select Reports from the main menu.
Go to Inventory reports.
Open the Inventory Movement Summary report.
Set the report End date to the date to calculate stock on hand value.
Use the Stock on hand column to check the inventory value of each SKU for that date.
Use the Grand total or export data as a CSV file and sum up stock on hand for all items to calculate the grand total inventory value.
Discrepancies between balance sheet and stock on hand
Balance sheet value of inventory is calculated when purchase invoices are authorized. Stock on hand value is calculated when stock is physically received into your inventory. This is the source of most discrepancies you may encounter.
If you have goods invoiced not received or goods received not invoiced, you may see discrepancies between these figures. If you see discrepancies, you can run the Transactions Vs Stock on hand difference on the same date to find them and reconcile the reports or turn on Inventory accrual.
Manual journals can also cause discrepancies if they affect the Balance Sheet Report but are not reflected in stock movements. For example, a manual journal posted with a different inventory account that the invoice line inventory account will not capitalize that journal cost to the stock on hand. Make sure that the debit inventory account for a manual journal matches the inventory account of the stock items to distribute this cost to the stock.