Stock Value Maintenance

Stock Value Maintenance

In a Periodic Inventory System which the QNE Optimum follows, value of Closing Stock or the value of the goods that remain unsold at the end of a certain period (which in most cases – end of the month) has to be defined in Stock Value Maintenance. 

This is to track the Cost of goods for Profit and Loss Report, and will be eventually the value of Opening Stock for the following Month. 

To perform in the system, go to QNE Navigation Pane, General Ledger > Stock Value Maintenance. 

Provided that Stock Account (maintained as Asset), Opening Stock and Closing Stock (maintained under COGS) were already paired, Closing Balance per month may be inputted in the portion provided:

For Optimum Packages inclusive of Stock Module, values for each month can be referred from Month End Stock Balance Report wherein the report will already calculate the stock value based on the set Inventory Costing Method (Fixed Cost, Weighted Average, Last Purchase Price, First In First Out).

The generated Stock Value from this report can either be entered manually in Stock Value Maintenance Form:

Or it, can also be set automatically by clicking the small check button to Copy Month End Stock Value from the reference Month End Stock Balance Report:

Once this button has been clicked, the system will prompt below:

And if clicked YES, it will supply automatically the value generated from the report.

The system will also ask below if the user would still want to open the reference Month End Stock Balance report.

NOTE:

For further concerns regarding this matter, please contact support to assist you or create ticket thru this link https://support.qne.com.ph