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Re: Inventory revaluation, Quants and product price

RE: Inventory revaluation, Quants and product price

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Re: Inventory revaluation, Quants and product price

by
Elico Corp, Eric Caudal
- 10/02/2016 09:00:43
+1.
IMO  a date "as of" (or range) should be provided for the change of price or the possibility to pick the involved quants.
Standard price in product should be recalculate a posteriori
--
Eric Caudal [Founder and CEO]
Skype: elico.corp. Phone: + 86 186 2136 1670 (Cell), + 86 21 6211 8017/27/37 (Office)
Elico Shanghai (Hong Kong/Shenzhen/Singapore) Odoo Gold Partner, best Odoo Partner 2014 for APAC
On 02/10/2016 03:07 AM, Jordi Ballester Alomar wrote:
<blockquote cite="mid:CALVkZEdcQf=GLKSTfwn=EpuAGQPbc_1HUqy=pbKw4MfAT=xCLw@mail.gmail.com" type="cite">
Dear accounting experts,

We're addressing the topic of inventory revaluation. That is, you don't like the value of a product (e.g. obsolescence, solve issues in valuation, wrong PO price, etc..), and you need to change it.

In Odoo you are offered the option to change the standard price of the product, and under real time valuation this produces a corresponding inventory posting entries.

But since Odoo manages Quants, and each Quant keeps it's purchase cost (and hopefully manufacture cost in we can add support for that soon), the standard price field in the product is irrelevant as a stored field, because should really be the result of the cost of the quants. 

Under the FIFO costing, the price of the product to be shown would be the cost of the first quant for that product. In reality Odoo is using FIFO costing method because it considers the cost of the quant to generate the accounting entries in stock moves...

If you are to undergo an inventory revaluation, wouldn't you need then to revaluate the quants, and not the product standard prices? Revaluating a quant would as a consequence generate the corresponding accounting entries for inventory revaluation.


Regards,
--
Jordi Ballester Alomar
Founder | Eficent

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