Stock valuation

In LS One 2021 we introduce a new stock valuation functionality.

This new feature allows the user to select which method to use to save the cost for each item and the cost for each item is now saved per site/store.

The calculation methods are:

Weighted average - Calculated as described below.
Last purchase price - similar to the old functionality but per location.
Manual - not per location and only manually edited in the item view.

Weighted average

When weighted average method is used the cost for the item is updated when receiving a purchase order according to this rule:

(Current cost x Current on-hand inventory) + (Purchase price x received goods)

Current on-hand inventory + Received goods

The cost is saved for each location and displayed in a new tab in the Item view:

Cost price updates

The cost price is now saved when a purchase order is received.

Cost adjustments are also done when a transfer order between locations with different cost are received.

When the cost price is recalculated the reason for the recalculation is saved and the user that triggered that action.

The cost price can also be set manually if any adjustments need to be made. This requires a specific permission.

Cost price in item ledger

The cost price is now registered to all item ledger entries such as sales, inventory adjustments, stock counts and stock transfers.

Archiving cost history

The item cost is saved to a new data table (RETAILITEMCOST) and a new line is created for every new cost price stored. This allows us to keep the history of the cost price. This table can grow quickly and therefore the cost history can easily be archived by running a procedure job on a schedule. This job moved the older cost lines from the RETAILITEMCOST to the RETAILITEMCOSTHISTORY table.

In the replication data package this job is called Archive item costs and should be run on the Head office location. If you need to create this job in your existing replication data setup please refer to: Update scheduler data for version 2021

Power BI

Changes were done in the Power BI template to take use of the new cost calculation.

A new stock value report was added
The Inventory, Stock Taking, and Stock Movement reports were updated to use the correct cost (manual, last price, or weighted average)

Reports

The stock level report that is included in our system report data package was updated to include the stock value (cost price * quantity on hand), and a total line added at the end of the report.

Other inventory improvements

Issue number	Support issue	Description
ONE-12566		Fixed an issue causing the refresh worksheet operation to add deleted items back into the worksheet.
ONE-13072		Fixed an issue where renaming a posted stock counting journal deleted the posted date in the INVENTJOURNALTABLE
ONE-12252		Added the ability to search for vendor items in the "from vendor" search panel in the Purchase order line dialog and added a column for the vendor item ID.
ONE-12557		User can now insert a decimal number when doing stock counting
ONE-13377	LSTS-13859	Fixed an issue causing the unit price of a purchase order line to be saved as the new item cost price instead of the final unit price (with discounts and tax applied).
ONE-13072		Fixed an issue where renaming a posted stock counting journal deleted the posted date in the INVENTJOURNALTABLE
ONE-12741		Added variant selection dropdown to the worksheet line dialog.
ONE-12668		Fixed a bug on Purchase Worksheet, where the unit conversion was not applied for the Quantity column value.
ONE-12257		Added functionality to view items with a right click operation from the purchase order view and the goods receiving document view
ONE-13126		Fixed a bug in Purchase Worksheet Line Dialog (edit and add), when user could not enter a decimal value, even if the Unit allowed decimals.
ONE-13381		Fixed an issue causing multi editing stock counting lines to not update the inventory on hand properly.
ONE-13354		Fixed the number of decimals you can enter to follow the maximum number of decimals set for the selected unit in all inventory dialogs and quantity fields.
ONE-13187	LSTS-13604	We updated the vendor field in the new purchase order dialog to allow searching by typing.