What this screen is for
What your stock is worth, valued at weighted average cost. It totals by category — items, quantity, value and each category's share of the whole — and lists individual items with their quantity on hand, average cost and total value.
When to use it
Use it at period end, when preparing accounts, or when you need to know how much working capital is tied up on the shelf. Because it values at weighted average cost rather than at selling price, the figure it gives is the one that belongs in your books, not the one you hope to realise.
What you see on this screen
Four cards open the report: Total Inventory Value, Total Items, Reorder Needed and Zero Stock.
A category table follows, with the number of categories named in its header:
- Category — the group.
- Products — how many items it holds.
- Stock — the quantity on hand across them.
- To reorder — how many of those items have fallen to their reorder level.
- Value — what the category is worth.
- Share — its percentage of the whole. This is the quickest read on where your money is actually sitting.
The item table then lists each product:
- Product — the item.
- SKU — its code.
- Qty on Hand — the quantity held.
- Avg Cost — the weighted average cost per unit. Not the last price paid, and not the selling price.
- Total Value — quantity multiplied by average cost. This is the figure that belongs in your accounts.
- Reorder — whether the item has reached its reorder level.
Filters and actions
The report shows the position as it stands rather than a period, so there is no date range. The category table is the summary and the item table the detail; where a category's share looks wrong, the items beneath it are where to look.
An item with no cost recorded contributes nothing to the value however much of it you hold, which is worth remembering when a total reads low.
Related
- Stock
- Reorder Alerts
- Stock by Branch