Hi,
Thanks for your feedback. This is a great suggestion and we will discuss this with the development team.
Implementing a change such as this could cause issues for a number of users who do currently track their stock value based upon the sales value, so implementing this will have to be carefully considered but we will look into it.
Many thanks
Guest
So glad to see someone else has asked for this. It makes no sense to run the report on retail price. You need the figure at cost price for year end accounts. I am seriously considering moving to a different provider because it is a nightmare working it all out manually. I love Kashflow and don't want to leave. Please make a report you can run on cost price so you can get the figures you need for year end accounts.
I would be really interested to know which businesses report their stock value on retail price??
Also it makes it such a long-winded checking system when implementing supplier price increases/decreases unless anyone knows a way of doing it?
I agree the stock value should be at the purchase price. this is the value we have to give on the end of year accounts and would be very useful.
Hello,
I'm looking for just the same, opening/closing stock valuation is necessary for reporting cost of sales in a P&L report, typically this would be based on purchase price. It seems a fundamental feature to make the stock management piece a useful integration in accounting software.
I would like to add that the purchase price ideally should be based on the actual (averaged) purchase price for a given product, i.e. total expenditure/purchase quantity, calculated from purchase history for a given period - as opposed to having to manually set a fixed purchase price coded against a product. This would cater for products that may have changed purchase price during an accounting period. Perhaps you could calculate the averaged purchase price or override with the optionally specified pre-filled purchase rate where provided.
I agree valuing the stock on the purchase price not the selling price is normal practice and would be a useful addition.