Inventory Valuation Summary Report

The Inventory Valuation Summary report generates an overview of the quantity and value of all items currently on hand. Cost values are based on today’s costs. You can use this report to compare inventory asset value between Fishbowl and your accounting system when running an Actual or Average costing method in Fishbowl Drive.

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In addition to the Reports module, you can access this report in the Inventory module. Click on an inventory item, and then click the More button in the action bar. Click Show Report to bring up four options. Select Inventory Valuation Summary, and it will generate a report for the inventory item you clicked on.

This report includes the following column headers and sections:

• Item - The name of each item at a particular location. That location will be a Parent Location by default, but you can change it to a Child Location using the Show Location Details checkbox on the right of the report. In addition, you can change the whole setup of this report by selecting Item in the Group By dropdown menu. That will display every location where units of an item are found under that item as the header.
• Description - An explanation of what an item is from the Items module.
• Asset Account - The ledger account from the Chart of Accounts module that an item is included under for accounting purposes.
• Qty - The number of an item’s units that are currently in stock, along with their unit of measure.
• Unit Cost - The amount of money you paid to obtain a single unit of an item.
• Asset Value - The total value of all units of an item, which is calculated using this equation: Qty x Unit Cost. It might not add up perfectly because the Unit Cost in this report cuts off at the second digit after a decimal point while the Average Cost field in the Items module can include several more digits after a decimal point.
• Location Total - A summary, at the bottom of the report, of how many units of all items are at a particular location, as well as their total Asset Value. This changes to Item Total if you select Item in the Group By dropdown menu. And then it will show the Qty of a single item’s units across all locations, as well as their total Asset Value

Optional

To the right of the report are several Optional fields you can use to customize this report:

• Date To - A textbox that brings up a calendar to select an end date (MM/DD/YYYY) for the report. Only inventory added before the date you select will be in the report. By default, it will be the present date, but you can enter any date in the past to get a snapshot of what your inventory valuation looked like at that point.
• Group By - A dropdown menu that enables you to reorganize the items in this report by one of two criteria:
  • Location - This organizes all items under each location where they are stored. This is the default option for this report.
  • Item - This organizes all locations where an item is stored under that item’s name.
• Location - A dropdown menu to select a Parent Location or Child Location to include in this report. All other locations will then be excluded. By default, every location will be on this report. Selecting one from this list will narrow down the results significantly unless you only have one location. You can create a new location by entering a name for the location in the textbox and hitting Enter or clicking the + Add option. Then fill out the New Location wizard that pops up.
• Item - A dropdown menu to narrow down the report to a single item. You can create a new item by entering a name for the item in the textbox and hitting Enter or clicking the + Add option. Then fill out the New Item wizard that pops up.
• Costing Method - A dropdown menu to select a costing method to run this report for. There are two options you can choose from:
  • Actual
  • Average
• Show Location Details - A checkbox that allows Child Locations to be displayed in this report instead of only Parent Locations. By default, items at Child Locations will be counted under the Parent Location over those smaller locations. But clicking this checkbox allows for more precision in seeing exactly where each item is located.

To select all of the status fields at once, click the Select All Optional checkbox. The Select All Optional checkbox won’t affect any of the dropdown menus or the textbox under the Optional header. Those will have to be updated manually. To search for an option in a dropdown menu, click in that field and begin entering text. It will show all options that have that text in them.

To apply your changes and see what they look like in the report, click the GENERATE REPORT button on the bottom-right. And follow the directions at the top of the main Reports article to save your changes to a Preset.