For a line item from a goods receipt to be included in the calculation of the valued inventory, a purchase price must be set. If you process your supplier orders through Pickware, this is usually the case.

When creating a valued inventory, the tax rate stored on the product is used to calculate the inventory value. However, Shopify often only transfers the standard tax rate, even if a product is sold in Shopify at a reduced tax rate (e.g. 7%). Therefore, make sure that you have set the correct tax rate for each product in Pickware before creating the valuation. Adjusting the tax rate afterwards can lead to a more accurate valuation.

If you increase your stock via free goods receipts, for example because you process your supplier orders externally, you must manually set a purchase price for the corresponding line items. To do this, open the relevant goods receipt under Warehousing (Lagerhaltung) → Goods Receipts (Wareneingänge) and double-click in the Unit Price (Net) (Einzelpreis (netto)) column, enter the price there, and save your entry using the checkmark on the right.

You can find an overview of all created valued inventories in your Pickware Admin under Warehousing (Lagerhaltung) → Valued Inventory (Bewerteter Warenbestand). To create a new valued inventory, proceed as follows:

Please note that only one valued inventory can be created per period. However, you can delete valued inventories that have already been created via the overview, if needed. If the period of the valued inventory also includes the current day, only a preview can be created. The valued inventory can only be saved once the days are completed.

When you open the created report, you can view the valuation basis for each product in the Stock (Bestand) column by clicking the truck icon. The valuation basis consists of all goods receipts and supplier orders in which the product was included at the respective price.

The valuation can be carried out using LIFO, FIFO, or the weighted average of the period. When you create a new valued inventory, the valuation method you used last time is selected by default. All valuation methods have in common that at the end of a reporting period, the existing stock, including its valuation, is carried forward to the next reporting period and booked there as a goods receipt. Since all goods receipts require a purchase price, Pickware ERP uses the average valuations from the previous period for this purpose.

Basically, the valuation is based on the stock currently available in the warehouse and all goods receipts within a valuation period. The carry-forward from the previous period (if available) also counts as a goods receipt. In the first valuation period, all goods receipts before the reference date are taken into account accordingly.

For the portion of stock that cannot be assigned to a specific goods receipt, Pickware uses the current purchase price of the product as the valuation basis. If no purchase price is stored on the product, the average price from the carry-forward of the previous period is used instead.

Depending on the valuation method, the valuation is calculated as follows:

This method assumes, in a simplified way, that the newest goods received (= last in) are the first to leave the warehouse again (= first out). The older goods receipts therefore remain in the warehouse and are added up for the calculation of the valued inventory until the current stock level is reached.

Here, it is also assumed, in a simplified way, that the oldest goods received (= first in) are the first to leave the warehouse again (= first out). The newer goods receipts therefore remain in the warehouse and are added up until the current stock level is reached.

The current stock is multiplied by the weighted average price of the period. The price is calculated as follows:

To illustrate this, here is a concrete example.

Depending on the method chosen, the calculation is as follows: