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Re: Inventory revaluation, Quants and product price

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RE: Inventory revaluation, Quants and product price

by
Wim Audeneart
- 10/02/2016 08:21:46

Hello Jordi,

 

I agree with the fact that the standard cost price field is irrelevant in case of “Real Price” and “Average Price” costing methods, but it is not for “Standard Price” costing method.

 

Maybe we need a 2nd cost price field, one (stored) for “Standard Price” costing method that can be defined by the user, and one (not stored) for “Real Price” and “Average Price” costing method.


Depending on the costing methods, the used cost price can be visible for the user.

 

Regards,


Wim

 

From: Jordi Ballester Alomar [mailto:jordi.ballester@eficent.com]
Sent: Tuesday, February 9, 2016 8:08 PM
To: Accounting <accounting@odoo-community.org>
Subject: Inventory revaluation, Quants and product price

 

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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