- Closing an Inventory Worksheet
- "SU Price at Close" Calculations
- Comparing Closing Value versus Current Value
- Generating PDF of Closed Inventory Worksheet
- Generating Excel® File of Closed Inventory Worksheet
Closing an Inventory Worksheet
When you have recorded your inventory numbers on a worksheet, then you can close the worksheet to have the system generate the current value of the inventory. To close an inventory worksheet:
- Open the inventory worksheet.
- Click the Close button. A confirmation message appears.
If the worksheet was created more than a day from the current date, then the confirmation message appears with a Close Date calendar picket that allows you to choose the date of closing. The dates available for selection on the calendar picker are from the creation date to the current date. - Click the Close Inventory button. The inventory worksheet appears in the Inventory Listing screen with the Closed status and the Value at Closed value (indicated in screenshot below: right-click image to open and expand in new tab).
- You can open the closed inventory worksheet by clicking its Name link. The closed inventory worksheet displays the following values for an item (screenshot below; right-click image to open and expand in new tab):
- Amount - the total number of individual stock units in inventory.
- Stock Unit - the weight of an individual stock unit.
- SU Price at Close - the price of an individual stock unit (see "SU Price at Close" Calculations below to learn how the system calculates the price of an individual stock unit).
- Value at Close - the total value of all the stock units.
"SU Price at Close" Calculations
- Calculation for Vendor Product Associated with Item
- Calculations for Additional Pack Size Added for Item
Calculation for Vendor Product Associated with Item
On an inventory worksheet, the default pack size shown for an item (first screenshot below) is captured from the current vendor product associated with the item, which can be seen on the Vendor Product Selection screen (second screenshot below).
When the inventory worksheet is closed, the SU Price at Close for the item (screenshot below) is retrieved from the current vendor product associated with the item using the following calculation: pack price / stock units in pack = SU price at close.
Example:
On the Vendor Product Selection screen, the Pack Price of the vendor product currently associated with the item "Applesauce, Unsweetened" is $22.36. There are 72 stock units in this pack (shown in Assigned Pack Size).
Therefore, the calculation to determine the SU Price at Close on a closed inventory worksheet is as follows:
Pack Price | Divide by Stock Units in Pack | Equals SU Price at Close |
$22.36 | /72 | =$0.31 |
The SU Price at Close is displayed for "Applesauce, Unsweetened" on the closed inventory worksheet:
Calculations for Additional Pack Size Added for Item
On an inventory worksheet, additional pack sizes can be added for an item, as per screenshot below.
When the inventory worksheet is closed, the SU Price at Close for each additional pack size (screenshot below) is retrieved from calculations that the system performs based on the weight of the item.
Theses calculations are explained as follows:
Calculation 1: Determine Price per Gram via Vendor Product
Values involved in calculation | Weight in grams of individual stock unit for vendor product associated with item. | Multiply by the number of stock units in the pack for the current vendor product associated with item. | Equals total grams. | Pack price of vendor product associated with item divided by total grams. | Equals price per gram |
Example | 113 grams | x 72 | = 8136 grams | $22.36 / 8136 grams | = $.00275 |
Calculation 2: Apply Price per Gram to Weight of Stock Unit of the Added Pack Size
Values involved in calculation | Price per gram as per calculation 1 | Multiply by weight (in grams*) of the stock unit of the added pack size for the item. | Equals SU Price at Close for the added pack size. |
Example 1 | $.00275 | x 650 grams | = $1.79 |
Example 2 | $.00275 | x 2835.95 grams | = $7.79 |
*The system will convert a stock unit's unit of measurement to grams (if not in grams) to apply the price-per-gram calculation. For example, 100 ounces = 2835.95 grams.
Comparing Closing Value versus Current Value
When you open the closed inventory worksheet, the total value upon closing of all items is shown in the Total at Close field at the top left of the screen, along the total current value in the Total Current Price field (screenshot below). The total current value reflects any price changes that have occurred with the vendor products selected with the items since the worksheet was closed.
By default a closed inventory worksheet lists the Value at Close column (screenshot below) to display the closing value for each item.
You can change this column to Current Value to display the current value for each item. To do so:
- Select the display options icon at the top right.
- Select the Current option.
- Click from one of the following options:
- Apply - the Current Value column (screenshot below) is displayed for your current visit to the screen. When you revisit or refresh the screen, the system reverts back to the previous column.
- Apply & Save - the Current Value column (screenshot below) is displayed onscreen and saved when you revisit or refresh the screen.
Generating PDF of Closed Inventory Worksheet
To generate a PDF of a closed inventory worksheet, complete the following steps:
- Open the closed inventory worksheet.
- Click the Print button. A separate tab opens with a PDF version of the inventory worksheet, which you can print or download and save.
Generating Excel® File of Closed Inventory Worksheet
To generate and download an Excel® file of a closed inventory worksheet, complete the following steps:
- Open the closed inventory worksheet.
- Click the Export button. The Excel file is downloaded.