Assessing Item Value
When you need to determine the total value of your inventory at hand, you can run the following reports in Saasu to find this out:
Balance Sheet Report
- Select Reports > Balance Sheet from the main menu.
- In the initial filters screen, enter the date for which you would like to see the value of your inventory.
- Ensure All Tags is selected in the Tags pick list.
- Click View Report - Look for the Asset Account under Assets to which you assign all your inventory items when you add them. The value against this Asset Account is the total value of stock on hand (excluding tax).
General Ledger Report
- Select Reports > Accountants > General Ledger Detail from the main menu.
- In the initial filters screen, enter the date you started your Saasu file (or any date, even before you think you started, if you cannot remember the exact date).
- Ensure All Tags is selected in the Tag picker.
- Select the Asset Account (from the Account dropdown) to which you assign all your inventory items when you add these to the inventory.
- Click View Report - The balance shown at the end of the report is the total value of inventory items on hand (excluding tax).
If you run the reports and feel the figures do not seem right, there could be several reasons for this. Here are the most likely:
- You may still have purchases of type Order with payments applied that have not been converted to actual purchases yet. In other words, Saasu is treating this like a deposit against an order. Load the order, change it to Purchase, and save the transaction.
- You may have traded inventory items instead of treating them as assets. Treating stock as an asset is using the perpetual inventory system (when you click i inventory this item in the setup screen for each inventory item). Trading inventory items are generally allocated to Income or Expense/Cost of Sales accounts rather than Asset accounts.