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Re: Real time (perpetual) inventory valuation - matching between the inventory and accounting valuations

by
kevin.mcmenamin
- 14/12/2016 20:01:29
Jordi

This is very useful - we have done something similar to reconcile the movement in the GL to the movement in perpetual inventory after finding the GL was not reconciling to inventory valuation reports. From our work the key things that needed fixing were:

1. making sure that every posting to te GL included the product code (for example price adjustments)
2. allowing the user to specify the period for inventory and price adjustments and making sure the journal picked that up (would be accounting date in V9) and that the move done done is correct

You will always get some differences but being able to identify and correct for is very important for a trading company.

Regards

Kevin McMenamin
ERP Capability Manager

Mobile  +64 22 651 3753
Phone  +64 9 977 5805
Email   kevin.mcmenamin@solnet.co.nz

Solnet Solutions Limited
Level 19, Crombie Lockwood
191 Queen Street, Auckland 1010
PO Box 6619, Auckland 1141

www.solnet.co.nz  




From:        Jordi Ballester Alomar <jordi.ballester@eficent.com>
To:        "Accounting" <accounting@odoo-community.org>
Date:        15-12-16 06:18 AM
Subject:        Real time (perpetual) inventory valuation - matching between the inventory and accounting valuations





Dear accounting experts,

FYI, we're working on the topic of real time (perpetual) inventory valuation, and have just built a module "product_inventory_account_reconcile" (https://github.com/OCA/stock-logistics-warehouse/pull/228) that allows a user to review the discrepancies between the inventory valuation from stock and accounting perspectives, and to reconcile the two worlds.

For example, according to my stock levels and unit cost, I have worth 10.000€ of iMacs, but when I look at my inventory account and look at the accounting balance for product "iMac" I get 12.000€ (for one reason or another - there are various). In that case I can list in the product list view that there's a discrepancy of 2.000€ and create a journal entry that reconciles the discrepancies.

This allows to better build the concept of "Material Ledger". This concept means that your inventory account is properly tracked on a product level. 

The module "stock_inventory_revaluation" also helps to better manage stock accounting under the real time inventory valuation.

If this topic is of your interest, please do not hesitate to review the PR.

Not sure if the name "product_inventory_account_reconcile" is clear enough. What do you think?

Best regards,
--
Jordi Ballester Alomar
CEO & Founder | Eficent
(+34) 629530707 | jordi.ballester@eficent.comhttp://www.eficent.com
Twitter: https://twitter.com/jbeficent_erp | Linkedin: https://www.linkedin.com/in/jordiballesteralomar

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