You can access historical inventory valuation data in Retail Express to understand how your inventory investment has changed over time, helping your retail management track financial performance and support accounting requirements. This capability provides point-in-time views of inventory worth, which helps with period-end financial reporting, trend analysis, and identifying seasonal inventory patterns.
Setting up regular historical valuation reporting enables your retail operations to monitor inventory investment trends, helping optimize purchasing decisions and working capital management. This helps retail businesses understand inventory financial performance over time while supporting audit requirements and business planning processes.
There are several reasons why you may want to view your stock value at a specific point in time, for example:
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Tax Purposes
- End of Financial Year reporting
- General Stock Reports and so forth
Retail Express doesn't currently have a report that provides this information as the majority of reports in Retail Express are live (i.e data can be edited at any time, altering the figures for a past date).
The only way to get a true stock value as of a certain date is to either:
While you could try and figure out your stock value as of a certain day by calculation method, we don't recommend it.
Trying to determine the stock by reviewing Sales Data, Purchase Orders, Transfers etc doesn't take into account Stock Adjustments that have been made en-masse or manually within the system. This method is incredibly risky and has a high potential for error.
Understandably it may not be possible to do complete Stocktakes frequently (although if required you could break them down incrementally using filters e.g. brand, or supplier etc).
Tip: The best way is to utilise the Reports within Retail Express. Run these reports on a regular basis, download and store a copy for referral in the future.
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