You can quickly generate and download the information you need about your materials costs with the Inventory Valuation report. This report takes into account all inventory movements up to a given date.
To access this data, follow the steps:
1. Go to Reports menu
Click in ‘Reports’, on the left side of the screen, and then in ‘Inventory Valuation’.
2. Then, filter and customize your data
‘As of date’: you can define on which date you want to see your inventory valuation. Clicking on the clock symbol, you can also choose ‘Relative’ time, where you’ll be able to schedule the report - learn more about it here.
'Product': this allows you to filter by product.
'Product family': you can select a family of products and only those will be shown in the report.
‘Include products with no stock’: If this option is not selected, only materials with stock will be shown.
3. Interpret and download the results
After generating the report, you'll see the details about your inventory valuation until the defined date.
The report will be generated with the following columns:
‘Code’ and ‘Name’ of the product in analysis.
‘Quantity’ of the product in stock on the date defined.
‘Asset Value’: total value of the asset of the identified product; it is calculated by summing the inventory movements cost from the start of time until the chosen date. You can check the cost for each inventory movement at this link.
For raw materials: receiving cost of this product will be added to the asset value considering the specified cost on the purchase order.
For finished products: production cost of this product will be added to the asset value considering the production cost, reflecting the costs of workers, machines and consumptions.
‘Avg. Cost’: average cost of the product; it is calculated by dividing the asset value by the existing quantity on the chosen date.
If after reading this article you still have some doubts, feel free to reach out to us through our Live-chat feature, or directly to your CSM.
Need help? Request a Prodsmart expert to contact you here.