Year End Inventory Valuation Report
Your year end inventory valuation report should always be generated from the Physical Count function as opposed to Inventory Reports.
Also commonly known as a discrepancy report, this is the report your accountant will probably ask you for. Typically grouped and subtotaled by department, it might include the basic product information, quantity on hand and cost before the count (this is the “system” quantity), quantity on hand and cost after the count (this it the “counted” quantity), and the discrepancy between the two in units and cost.
Follow this simple video to create a discrepancy report.
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