How do I run a stock valuation ? Which costing methods are used ?
You first need to click on ‘Reports’ and then ‘Stock Valuation Detailed’ :
This will now bring up a screen that will offer you the following controls and options :
1. You need to enter the date and time that you wish to have your stock valued at. This means that the system will go through all the relevant transactions up to the specific date and time entered.
2. Un-alloc Sales Cost method. The primary scope of this valuation is to present you with an actual costing. The system will go through all the sales and purchases and will allocate according to FIFO. If the system encounters records which cannot be allocated then you need to instruct the system which other available method can be used. Simply click on the drop down to select the method :
3. Once done you need to select the products that you wish to run an evaluation on. Simply click on the ‘Search’ box on the right of your screen and all your products will be listed. You can then filter out the products that you want unless you want to run it on all your products.
Once your selection is made you need to click on the ‘Calculate’ button. This will perform the allocation for you and will finally present you with your stock quantities and actual values as at the date and time specified.
Apart from the actual cost, you also have ‘First Cost’, ‘Last Cost’ and ‘Weighted Average Cost’ displayed within your report.
See more information on Boss here : Overview