Chapter 605 Inventory Reports
Inventory Reports help you track your inventory, measure sales, and reconcile results.
In the Reports tool under Items, BigBusiness 15 includes some 50 reports about items.
Among these are Inventory reports which measure Qtys and Costs of Inventory items.
Inventory items are those with Inventory checked on the Item card, which are counted, and use inventory accounting, adding cost into inventory and out to cost of goods sold.
Inventory Accounting
Inventory Accounting helps you manage your inventory through to your accounting. These reports are dense but should give you instant insight into errors and validation.
Transactions that change inventory also change your accounting to match your results. In short, quantity times cost tells you a value that should match purchases and profits.
If you reconcile your bank transactions for purchases and profits and count inventory, the results should give you balanced financials that meet accountant approval or audit.
Inventory Reporting
Inventory Reporting is updated to use modern reporting for fast processing and return.
Modern reports can run on Remote Clients and across huge data sets without penalty.
When you are looking for a Report, start with the Help column to find newest, fastest.
Annual Turnover
Annual Turnover or Annual Turns is standardized in BigBusiness 15 to use 365 days.
Questions in the Q&A Tool and Reports for Items calculate this for easy comparison.
These include Q&A's like Which Items Have Turnovers Greater Than... and Reports such as Inventory Sales Analysis, Customer Sales Analysis, and Inventory Turnover.
Turns are calculated by dividing Qty Sold by Ending Qty On Hand for a Date Range. Annual Turns extends Turns by the ratio of days in a year, 365, to days in the range.
Inventory by Item Type
Break down your inventory by Item Type to see past valuations and know your cost.
Inventory by Item Type is a modern report for looking at past inventory breakdown. Item Types can change and these reports use current Item Type from each item card.
This report automatically excludes non-Inventory items, Obsolete items, and Inactive.
Inventory by Item Type Summary
Inventory by Item Type Summary shows the total cost by Item Type for three years.
Print the report to see each year end for the three prior fiscal years plus year to date. Export the report for a breakdown by quarters for three prior years and year to date.
This report excludes non-Inventory items and only includes Inactive if added in Search.
Inventory Sales By Customer
Inventory Sales by Customer creates a spreadsheet with Customers as columns, Items as rows, and Qty Sold for the Date Range you specify for each customer for each item.
Do not run for more than 100 Customers or 100 Items unless you are sure that's okay. Your company may have 10,000 customers and 50,000 items making 500 million cells.
Contact support@bigbusiness.com if you need help using Tags or other filter options.
Inventory Sales by Customer by Month
Inventory Sales by Customer by Month creates a spreadsheet with Customers as columns, Month + Item as rows, and Qty Sold for each month per item per customer.
Do not run for more than 100 Customers or 100 Items unless you are sure that's okay. Your company may have 10,000 customers and 50,000 items making 500 million cells.
Contact support@bigbusiness.com if you need help using Tags or other filter options.
Inventory Turnover Calculation
On the report it has Item code, description 1, descrip 2, Qty sold,
ending inv, Actual turns, and annual turns.
What do "actual turns" and "annual turns" stand for?
(5003)
The Actual turns figure represents a ratio of the amount that you sold for the period in question divided by the amount of inventory you have now.
Amount Sold/current inventory = Actual turns
The Annual turns is this annual projection of this number, based on current figures. If you examine the example you gave me you'll see that it fits the data.
You can use this ratio to help determine the amount of inventory you keep in stock based on your demand. Rather than dealing with the larger numerical quantities, etc. you can look at the ratio directly.
Inventory Sales Report
Big Business includes the Inventory Sales Analysis Report which Saves To Disk and includes extensive information about inventory and sales, including quantities as of a beginning and end date, costs, adjustments, sales, margin, and turnover.
This Solution describes the Sales Analysis Report. (5968)
The Inventory Sales Analysis Report is included in the Reports tool under Items. Because it contains so much information, it only Saves To Disk, and may take a while to run as it calculates stock levels as of its beginning and end dates and summarizes all transactions in the date range.
The Inventory Sales Analysis Report contains:
• Item Code
• Description1
• Description2
• Beginning Quantity
• Beginning Total Cost
• Buy Quantity
• Buy Total Cost
• Buy Average Cost
• Adjusted Quantity
• Adjusted Total Cost
• Sell Quantity
• Sell Total Price
• Sell Average Price
• Sell Total Cost
• Sell Average Cost
• Gross Margin Percentage
• Ending Quantity
• Ending Total Cost
• Actual Turns
• Annual Turns
The Report starts with an Item Search, so can be run for any group of resulting Items. Often, it will make the most sense to select the Search:
"Inventory Item Is Yes"
to run it for active Inventoried Items, but you may also run it for a particular Item Type, those with a Last Sold Date beyond a certain date, and so on.
To open the resulting export in Excel, launch Excel, go File, Open, and choose the file. On the Text Import Wizard click Finish.
Inventory Sales by Warehouse Report
Big Business includes the Inventory Sales Analysis Report which Saves To Disk and includes extensive information about inventory and sales, including quantities as of a beginning and end date, costs, adjustments, sales, margin, and turnover.
This Solution describes the Sales Analysis Report. (5968)
The Inventory Sales Analysis Report is included in the Reports tool under Items. Because it contains so much information, it only Saves To Disk, and may take a while to run as it calculates stock levels as of its beginning and end dates and summarizes all transactions in the date range.
The Inventory Sales Analysis Report contains:
• Item Code
• Description1
• Description2
• Beginning Quantity
• Beginning Total Cost
• Buy Quantity
• Buy Total Cost
• Buy Average Cost
• Adjusted Quantity
• Adjusted Total Cost
• Sell Quantity
• Sell Total Price
• Sell Average Price
• Sell Total Cost
• Sell Average Cost
• Gross Margin Percentage
• Ending Quantity
• Ending Total Cost
• Actual Turns
• Annual Turns
The Report starts with an Item Search, so can be run for any group of resulting Items. Often, it will make the most sense to select the Search:
"Inventory Item Is Yes"
to run it for active Inventoried Items, but you may also run it for a particular Item Type, those with a Last Sold Date beyond a certain date, and so on.
To open the resulting export in Excel, launch Excel, go File, Open, and choose the file. On the Text Import Wizard click Finish.