We have problems with the stock list not balancing to the nominal ledger account for stock. These should balance to each other. When investigating we found the following problems :
1. You are able to close items in the item register that still have stock on hand. There should be a check in place that you are not allowed to close items you still have stock of.
2. Item showing no cost on Stock List Report but has a cost on item history, The Item in the item register also has a weighted average cost and cost.
3.Items using wrong cost on transaction, We had an item instock that used a different cost to the weighted average for that item.
4. Back dating invoices uses current cost for that item instead of cost for the date of the invoice.
5. Returned Goods for worksheets sometimes uses a cost on the item as zero, this then changes the cost for all the items in stock to zero on the stock list.
6. Using the same in and out item on a production show the incorrect out cost for that item on the item history report.
How would we stop these types of errors from recurring?
This answer was correctCreated by14:06 29 Apr 2013
(1) Closing Items where you have stock is not a problem, as there is a tick box on the Stock List report which allows Closed Items to be included in the report. Also, you can re-open a closed item at any stage.
(2) If you are running weighted average NOT by location, the the cost price on the Item record is the cost price that will print on the stock list. You may have a specific setup which would require a consultant to investigate.
(3) This would have to be investigated by a consultant.
(4) The cost price on an invoice is only updated at the point when the invoice is OK-ed, (not when it was created). This is correct.
(5) This would have to be investigated by a consultant.
(6) This would have to be investigated by a consultant.
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