Inventory Revaluations - BC Bookkeeping Tutorials|dwmbeancounter.com

The latest version is streamlining workflow when using periodic inventory revaluation.

Going to Reports tab, creating a revaluation worksheet, then viewing it, then copying results to new Inventory Revaluation etc. It’s too many steps.

In the latest version, the number of steps has been greatly reduced.

If you have Average Cost column visible under Inventory Items tab, you will see new Recalculate button above the column name.

Clicking on the button will recalculate average costs and if they are different, then you will see a screen with the average costs.

To accept changes, click Batch Update button. This will create (or update) inventory revaluation entries under Settings tab.

This feature will also work when drilling-down into Inventory on hand account within Summary tab or within financial statements. This allows to recalculate average costs as at the report date.

Currently the recalculation is using FIFO (first in first out) method but the plan is to support other methods too. This will allow to switch between methods based on business requirements.