| Inventory Method
|
Here you select the inventory method. You can select between the following five: “Average Cost,” “Last Cost,” Standard Cost,” “Item Cost” and “Lowest Cost.” “Item Cost” is the only calculation method which produces the same inventory value as the current value recorded in the G/L module.
If you select “Average Cost,” Maconomy uses the average cost in the individual warehouses for every item, regardless of whether some items are priced according to other methods.
If you select “Last Cost,” Maconomy uses the last cost in the individual warehouses for each item, regardless of whether some items are priced according to other methods.
If you select “Standard Cost,” Maconomy uses the standard cost in the individual warehouses for each item, regardless of whether some items are priced according to other methods.
If you select “Item Cost,” Maconomy uses the current cost in the individual warehouses for each item.
If you select “Lowest Cost,” Maconomy uses the lowest of the three costs recorded for each item in the warehouse in question. For items with a costing method different from FIFO, the lowest among “Standard,” “Average,” and “Last” will be used. For items with the FIFO costing method, the cost of the oldest batch will also be included in the evaluation of the lowest cost.
|
| Incl. Items with Negative Stock
|
Here you can specify whether you wish to include any negative stocks in the inventory count. Unless otherwise specified for the warehouse in question, Maconomy allows a negative item stock if you carry out direct invoicing in the Sales Orders or the Item Purchase modules, despite the fact that the registered current stock is not adequately large to match the invoiced quantity. In certain situations, it may be essential to include such negative stocks to generate an inventory value which is as correct as possible. It is possible to reconcile the inventory with the equivalent inventory account in the G/L module provided that negative stocks are included in the inventory count.
|
