Processing stock revaluations
Introduction
You can revalue inventory at System ➔ Logistics ➔ Revaluation. Click Start to display the items that need to be evaluated based on the valuation method. After you click Start, Exact Globe Next calculates the new cost price based on the pre-selected valuation method and you will see the Revaluation screen.
The Revaluation screen displays the list of items with their current and new value. You need to specify the profit & loss account to record the revaluation value of the items. You can also process the items by pressing the F2 key and then selecting the profit & loss account from the available list, or typing the general ledger account number under the respective lines at the Profit & Loss account column and then clicking Process.
Fields
Entry number
By default, the entry number is automatically updated by Exact Globe Next. The entry number is the journal entry number used to register the new item value in the general ledger.
Reference date
By default, the reference date is automatically updated from the criteria specified in System ➔ Logistics ➔ Revaluation. The reference date is the date the new value will be registered as in the general ledger.
Description
Type a description to provide more details of the revaluation. For example, a suitable description is the purpose for this revaluation.
Columns section
The following describes the columns:
Item
By default, this column displays the item code which is the item that has a new cost price as calculated using the valuation method specified at System ➔ Logistics ➔ Revaluation.
Description
By default, this column displays the description for the corresponding item code. This is defined in the item maintenance (Inventory ➔ Items ➔ Maintain).
Status
By default, this column displays the status of the item. The following are the statuses available for an item:
- Active — Items can be sold, purchased, manufactured, received, and delivered.
- Blocked — Items can be used in stock counts, bill of materials (BOM), budget scenarios but not in sales, purchasing, and financial transactions.
- Discontinued — Items can be used in stock counts, sales, BOM, and budget scenarios, but not in purchases.
- Inactive — Items can be used in stock counts, but not in sales, purchasing, BOM, financial transactions, and budget scenarios.
- Future — Items that have yet to be made active at present.
Sls unit.
By default, this column displays the unit of measurement used to measure one unit of an item.
Stock
By default, this column displays the stock quantity derived from the Total stock(On hand) field under the Inventory tab in the item maintenance screen (go to Inventory ➔ Items ➔ Maintain, select the item, and then click Open).
Value
By default, this column displays the value which is the value of the item before starting the revaluation.
New value
By default, this column displays the new value which is the value of the item after the revaluation using the specified valuation method.
Revaluation
By default, this column displays the revaluation which is the difference between the new value and previous value (New value - Value).
Profit/loss
By default, this column displays the new value after the revaluation to show if it is a profit or a loss. If the revaluation is a positive amount, then the value is a profit. Otherwise, the value is a loss.
Profit & Loss account
You can select the profit & loss account which is the general ledger account that will be used to register the revaluation amount (difference between the new and old value) for the corresponding item. By default, the account displayed is defined in Price differences account under the Purchase tab at System ➔ Logistics ➔ Item groups.
Purchase account
You can select the purchase account which is the general ledger account that will be used to register the new inventory value for the corresponding item. By default, the account displayed is defined in Stock under the Financial tab at Inventory ➔ Items ➔ Maintain.
Revaluation date
You can select the revaluation date to register the revaluation transaction. By default, it is pre-filled with the last revaluation transaction date before the selected reference date.
It is possible to void a revaluation transaction for the item prior to the selected reference date. To void a revaluation transaction, click on the Revaluation date column and press F2 or F5. You will see the date browser. By default, you will see a list of revaluation transactions prior to the selected reference date.
Note: This column is available only if you select the Stock valuation as from the last revaluation check box under Inventory settings at System ➔ General ➔ Settings.
Buttons
Select all
Click this to select all the item lines listed in the Revaluation screen.
Deselect all
Click this to clear all the selected lines.
Export
Click this to export the stock revaluation information to a Microsoft Excel sheet.
Process
Click this to register the new value in the respective profit & loss accounts and purchase accounts.
Cancel
Click this to to exit without processing the revaluations.
Related document
| Main Category: |
Attachments & notes |
Document Type: |
Support - On-line help |
| Category: |
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Security level: |
All - 0 |
| Sub category: |
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Document ID: |
13.261.394 |
| Assortment: |
Exact Globe+
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Date: |
26-09-2022 |
| Release: |
397 |
Attachment: |
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| Disclaimer |