Exact Globe+

Stock revaluation

Menu path

System ➔ Logistics ➔ Revaluation

Introduction

In this screen, you can revalue inventory. Revaluation is done after you have reconciled the receipts and completed the inventory valuation. In closed periods, your fulfillments are not corrected during an inventory valuation; therefore you need to do an inventory revaluation to correct that. The stock revaluation will balance the value on your ledgers with the stock value according to the selected valuation method.

What version are you using?

The information in this document is applicable to product update 417 and higher. If you have versions lower than this, certain features explained here will not be applicable.

How do I revalue inventory?

On the screen at Item code, type or select the item code or range of item codes.
Define the rest of the fields, where necessary.
Click Start.

Fields

Process section

Valuation method per item

This check box if you have selected the Valuation method per item check box under Inventory settings at System ➔ General ➔ Settings. This check box is not enabled.

Valuation method

The valuation method selected is the method defined at Valuation method under Inventory settings at System ➔ General ➔ Settings. This field is not enabled. The following methods are available:

Average purchase price — This method uses the average purchase price to process the stock valuation. It takes the average purchase price of inflow transactions and updates the current stock value.
SCP — This method uses the standard cost price to process the stock valuation. It takes the cost price of the inflow transactions and updates the current stock value.
FIFO — This method uses the order in which the transaction occurs to process the stock valuation. It assumes that the first inflow item is the first one used. This method takes the purchase price of the first item used and updates the current stock value when an outflow transaction occurs.
LIFO — This method uses the order in which the transaction occurs to process the stock valuation. It assumes that the last inflow item is the first one used. This method takes the purchase price of the last item used and updates the current stock value when an outflow transaction occurs.
Actual costing — This method uses the actual cost of the item based on the purchase price registered on the serial or batch number upon receipt. It is applicable to serial or batch items only.

Range section

Item code

Type or select a date to complete the project(s) or project order(s) on this date.

Assortment 1/2/3...

Select one assortment or more to perform the stock revaluation on items that are linked to the selected assortment(s). The number of assortments displayed depends on the number of assortments defined at Order ➔ Items ➔ Assortments or under Item data settings at System ➔ General ➔ Settings.

Extra section

Transaction date

Type or select a date to revaluate inventory transactions registered on and before the transaction date. Transaction dates are the actual dates of the inventory transactions.

Note: Transaction date is available only if Date is selected at Check: Closed periods under General settings at System ➔ General ➔ Settings.

Reporting date

Type or select a date to revaluate inventory transactions registered on and before the reporting date. Reporting dates are the dates the inventory transactions are recorded in the general ledger.

Note:

Reporting date is available only if Reporting date is selected at Check: Closed periods under General settings at System ➔ General ➔ Settings.
The transaction and reporting date can differ, for example if you receive an order of goods on 01/01/2015 and then process the receipt on 02/01/2015, the transaction date is 01/01/2015 and the reporting date is 02/01/2015.

Include items with zero revaluation value

Select this check box to perform stock revaluation on items with zero revaluation value on the Revaluation screen (after you click Start). Revaluation lines will be created for the items with zero revaluation value if you have also selected the Stock valuation as from last revaluation check box under Inventory settings. Otherwise, no revaluation line will be created.

Advanced section

Revaluation based on all transactions

Select this check box to perform the revaluation for the stock right from the first transaction until the revaluation date. This is done to ensure that the revaluation is performed correctly when the selection at the Stock valuation as from last revaluation check box at the Entry section at System ➔ General ➔ Settings, under Inventory settings is changed.

Note: When this check box is selected, the Include items with zero revaluation value check box will be automatically selected and is not enabled.