Inventory Revaluations - BC Bookkeeping Tutorials|dwmbeancounter.com

The latest version is streamlining the workflow.

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

Clicking on the button will recalculate unit costs and if they are different, then you will see a screen with the new unit 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 unit costs as at the report date.

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