Updating Inventory

For items that you stock, the stock information held in the item file is only updated when a transaction involving that item is posted.

Note: The result of posting a stock item is different if the Enable Job Costing and Time Billing preference option is set and the job code column is filled in the transaction line. These are discussed separately below.

Note: When you post any transaction that involves an inventoried item, the cost of goods and stock information within the transaction is updated to reflect the current stock valuation within MoneyWorks at the time of posting. This may be different from the valuation when you first entered the transaction.

Note: When you purchase a stock item, the normal accounting transaction is to debit stock and to credit bank or accounts payable. However if you purchase an item that is in negative stock, MoneyWorks will also put in a correction to account for any difference in the estimated cost of goods when the item was sold, and the actual cost of goods when it was subsequently replaced. This is why you will see purchase transactions when you do an account enquiry on the cost of goods account.

Note: All stock values are held in the local currency.