Hi Folks
Does RMS SO keep track of the true value of the Store's inventory that is actual cost of all goods purchased not Weighted Average or Last cost? If yes how do I run a report to show the inventory value and what should be setup under Inventory configuration. We buy on occasion heavily discounted items - and we don't want the Inventory Cost shown on the Report Item Value to be so distorted.
Any suggestion or help would be appreciated.
Danny
Weighted average is generally the most correct setting, but you don't have to adjust cost based on POs at all.
the RMS database will contain records of each PO's quantity and price, but there is no built-in report that looks back to this. Also, the only 'true value' is the weighted average, as you can't really tell which item you are selling, unless they are all serialized.
Glenn Adams Tiber Creek C> Hi Folks
Hi Folks
I guess this is not good enough for this business. Any other suggestion or will this change in version 2.0? Will MS implement LIFO or FIFO?
Does anyone have a Purchase Order report that outlines the cost of all goods purchased for a specific period of time. Hate to re-invent the wheel!
Danny
"Glenn Adams [MVP - Retail Mgmt]" wrote in message news: snipped-for-privacy@TK2MSFTNGP04.phx.gbl...
Hi Craig
I guess the real issue is that we want to be able to determine the actual/real value of the inventory for accounting purposes - not the weighted average value.
Any suggestion on how to do this or possible work-around.
PS. Developed a PO report in Crystal report version 10 (test.rpt) - how do I include this in RMS.
Danny,
Are you sure your accounting program supports actual costs? A lot don't.
You must use Crystal Reports 8.5 as its the only one supported by RMS.
Have something to add? Share your thoughts — no account required.
Ask the community — no account required