A warehouse supervisor checks inventory with a tablet and scanner

Inventory Costing

Record opening stock, movements, returns and counts, then calculate month-end cost using weighted average or FIFO before posting.

Product Details

See what this module handles, how to review it and how its results reach the ledgers.

Record opening quantities and actual stock movements

Maintain item details and opening stock, then record receipts, issues and quantities from actual business activity. Review stock movements and balances for a selected date to see which transactions changed the quantity.

Keep returns, corrections and counts tied to their records

Record returns, corrections and count differences from the actual event. When historical quantities or costs need adjustment, keep the original record and its correction rather than overwriting the business history.

Calculate month-end cost with the selected method

Calculate period inventory cost at month end using the account's selected method: month-end weighted average or first-in, first-out. Review quantities, cost sources and amounts before confirming the result for accounting.

Review quantity, cost and accounting as separate steps

Quantity confirmation and cost calculation are separate results to review. After costing, record the related accounting through the voucher service and check the posted entry in the ledgers.

Frequently Asked Questions

Which inventory costing methods are available?

Month-end weighted average and first-in, first-out are available, based on the method selected for the business.

When is inventory cost calculated?

Cost is calculated at month end from the period's inventory activity, then reviewed before use in accounting.

Which inventory activities can I record?

Maintain items and opening stock, then record actual receipts, issues, returns, corrections and counts. Review stock movements by date.

Will a count automatically adjust quantity and cost together?

Record the actual count difference, then review quantities and cost separately. The system does not guess the cause or amount of a difference.

Does correcting an earlier stock movement overwrite it?

Record a return or correction based on the actual event and keep the original record with its adjustment for review.

How does inventory cost reach the accounting ledgers?

Review stock quantities and cost at month end, then record the related accounting through vouchers. Posting the voucher updates the ledgers.

Related capabilities

Explore related accounting modules.

A business owner and finance manager review ledgers and business figures

Ledgers & Reports

Review account balances and activity, see monthly income, expenses and cash in management BI, then trace a figure to its ledger and voucher.

General ledger
Account activity and balances
Subsidiary ledger
Business records by period
Management BI
Monthly income, expenses and cash
A finance professional reviews cash activity and settlements

Funds & Settlements

Import bank activity, record completed receipts and payments, and review reconciliation, open balances and aging separately.

Bank activity
Excel/CSV import and reconciliation
Receipts and payments
Completed transactions
Open balances
Receivables and payables
A finance professional reviews accounting vouchers

Vouchers & Journal Entries

Enter journal lines from actual business activity, review and post them, then reverse a posted voucher when a correction is needed.

Voucher actions
Enter, review, post, reverse
Ledger updates
After voucher posting
Business basis
Actual business records