Recording Stock Value Change

This guide describes how to automatically record changes in stock value in bookkeeping using Netvisor. The entry can be made on the last day of the fiscal year or the last day of the month.

CONTENTS

• Considerations before recording stock value changes
• New stock value change entry

You can access the stock value change entry by navigating to: Products > Stock > Record stock value change.
This function allows the change in stock value to be automatically recorded in bookkeeping. The entry can be made on the last day of the fiscal year or for a desired period, e.g., monthly on the last day of the month.

Considerations before recording stock value changes

• The change in stock value is recorded for all stocks. The entry cannot be limited to a specific stock.
• A stock inventory must be completed. Ensure that the inventory is done and obsolete items are removed from stocks.
• The voucher type used in the entry is based on stock settings. You can manage the default voucher type used in stock settings. By default, this is VA Stock value change.
• A PDF report, which the entry is based on, is attached to the recorded voucher. The report is based on the stock report Stock value change by stock accounts. You can use this report to verify information before recording the voucher.

New stock value change entry

1. First, check the aforementioned considerations, then click "Continue to stock information verification"
2. Select the period to be checked during which the value change will be recorded in bookkeeping > Start stock information verification.

The program lists the stock information to be checked:

• Sales orders delivered: Check whether all products have been delivered from the sales orders whose delivery date fits the selected period. If your company does not use sales orders, you can ignore this check.
• Purchase orders received: Check whether all products have been received from the purchase orders whose expected delivery date fits the selected period. If your company does not use purchase orders, you can ignore this check. 
• Received purchase orders matched to purchase invoices: Check whether the purchase invoice rows have been matched to the purchase order rows whose actual delivery date fits the selected period. If your company does not use purchase orders, you can ignore this check. 
• Balance sheet stock account added to stocked products: Check whether the stock account is marked on the product cards of stocked products delivered or received during the period and whether the account belongs to the inventory accounts group. A voucher entry cannot be made without a product-specific stock account.
• Default counter accounts set for stock accounts of stocked products: Check whether default counter accounts are set for the stock accounts marked for the company's stocked products in default posting settings. A voucher entry cannot be made without setting default counter accounts. This is given as the profit and loss statement account where the change in stock value is recorded. The stock account used in default postings does not directly affect the stock value entry. This account is the one where a new product's stock account is recorded by default unless it has been manually changed for the product. Default accounts used in postings -page defines the default counter accounts for stock accounts, which affect the account where the stock value is recorded. 
• A delivering or receiving stock selected for stock transaction rows: Check whether a stock is marked for stock transaction rows in processed status during the period for both deliveries and receipts. The stock field must not have the value "no stock".
• Check products with negative stock balance: Check whether stocked products have a negative stock balance.
• Check products with stock value but not in stock: Check whether there is stock value left for stocked products that are no longer in stock according to the stock balance.
• Batch processing transactions reducing stock balance linked: Check whether there are stock transactions during the period that are not linked to any product batch.

3. Check and correct deficiencies before recording the voucher. You can also proceed to the next step if you are sure that the stock information is correct and the voucher will record the correct value.

• Attention links allow you to drill down directly to the place where possible corrections/deficiencies can be made.
• The program lists the number of processed stock transaction rows and the change to be recorded

4. Once the stock information is checked > Continue to voucher preview. The preview generates a PDF report, which is automatically attached to the created voucher.
5. Create and proceed to the voucher.
If the transaction was mistakenly recorded on the wrong closing date, invalidate the resulting voucher and recalculate the stock value for the correct closing date, which will create a new voucher in bookkeeping for the correct date. 

Keywords: Stock value change

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