User purchases an item on 1/1/2022 with 10 QTY RM 600, and other purchases on 1/2/2022 with 20 QTY RM 650. On 31/3/2022, user performs stock take and find out there is another 2 QTY in warehouse worth RM 550 per unit which purchase from 12/12/2021.
User update Stock Adjustment for the 2 QTY, however system only allows to update “Document Date” but cannot update Stock Aging Date since the item purchase on 12/12/2021
If user preview Stock Aging report as at 31/3/2022, system displays the 2 QTY under “Current” month instead of “3 Months”. And the stock value is based on purchase cost or the Stock IN cost (2 QTY X RM 550 = RM 1,100) instead of using weighted average cost (since user’s costing method is using Weighted Average). User requests to update “Stock Aging Date” in Stock Adjustment and display in the aging column accordingly.
1. File > Module > Tick Stock Aging. Please notice that this module is chargeable, kindly contact your sales representative if you would like to use this function.
Note: This function is applicable for the costing method as Weighted Average
2. Go to Stock Adjustments, by default you do not see the “Stock Aging Date” column. You can right click on the field caption > Column Chooser > and drag this column into the Stock Adjustment Details.
System allows you to update the Stock Aging Date accordingly. Then you can save it.
Please notice that in this example,
- Document Date = 31/3/32022, the date perform stock takes / adjustment.
- Stock Aging Date = 12/12/2021, the stock purchase date.
3. View > Reports > Stock Reports > Reports > Stock Aging 12 Months with Value by Weightd Average Report
4. Notice that this report only applicable in Stock Aging module. Preview the report as at 31/3/2022, notice that system display the adjustment of 2 QTY in “3 Months” column, and the value is calculated based on Weighted Average Method.
3 Months Stock Value = RM 1,256.25 ( 2 QTY X RM 628.13)
2 Months Stock Value = RM 6,281.25 (10 QTY X RM 628.13)
1 Months Stock Value = RM 12,562.50 (20 QTY X RM 628.13)
Note: You will find that there is a variance in cent and this is common due to system calculates based on 8 decimal points which on screen only display 2 decimal points. But the total Stock Value will be tally with Month End Stock Report or Stock Inqiury.
If user forgot to update Stock Aging Date in Stock Adjustment,
system will perform the default design which taken the “Doc Date” as Aging Date. However, the stock value still based on Weighted Average calculation.
5. Thus, it is recommend user to perform a checking under View > Report > Stock Reports > Reports > Stock Register > Stock Adjustment Register
6. Click in Inquiry > By default system does not display the field “Stock Aging Date”.
User can point to the field caption > Right Click > Column Chooser > Add > Tick the fields and drag to the report.
User can perform checking if the “Stock Aging Date” column is updated or not. (For Stock adjustment IN QTY only)
7. If user Stock OUT the item before Stock Adjustment,
System will deduct from the oldest purchase entry which is 1/1/2022 since the stock adjustment perform after Cash Sales, although you preview the aging report until end of March 2022.
Kindly click here for the attachment