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DominiqueK's avatar
DominiqueK
Experienced User
4 years ago

AR Inventory Entry Order

Hi,   My question is about MYOB Inventory on AccountRight.   We started using it, and now there is no option to stop.   We do a stock count at the end of every month, and update the figures of ...
  • Steven_M's avatar
    4 years ago

    Hi DominiqueK 

     

    That is correct. Inventory values in AccountRight are based on the date on which you actually enter the transaction, not the date that the transaction is being entered with.

     

    For example: say I enter a purchase for an item on and with 01/07/2021 for 10 items at $100 each ($1000 in total) and another purchase on and with 10/07/2021 for 1 of that same item at $150. If I then sell the item with a transaction dated 05/07/2021 but on 11/07/2021. It would have used the average cost of $104.55 for that sales transaction as that was the average cost on that item at the time of recording the transaction (1150 / 11).

     

    As such, entering transactions on the appropriate dates and in the order is critical to ensuring that you do have the appropriate item records.