Stock on hand reconciliation report

Overview

You can use the stock on hand reconciliation report to compare the transactions that were imported into your accounting system.

Once the report is run, click on the View button for the month being reviewed. This will display the total for Purchase Orders, Landed Costs, COGS and Stock Adjustments for the month, which were imported into the Accounting Software.
Clicking the View button under each of the items listed above will display the individual transactions that were synced to the accounting software.

The Stock On Hand Xero Reconciliation report is based on the invoice date and is meant to match with your stock / inventory account balance in your accounting software balance sheet.

Below are the requirements for different transactions to show in this report. This will ensure only the transactions that have actually been imported to stock on hand / inventory account in your accounting software, are visible in this report.

Purchase orders

The purchase orders will show in this report based on the Invoice Date and the Accounting import status set as Imported.

Likewise, this report will only show the purchase orders that have stock items/products i.e. stock control as FIFO, Batch or Serial within the product module. The purchase orders that have non-stock items can also show in this report if they are related to shipping costs like freight, custom, etc. and they have been allocated to the purchase order with stock items using the transaction link fields, as part of the linked transactions landed cost method.

Landed cost

This is applicable only if you have either the Xero or QuickBooks Online Accounting Dashboard added, and are using the new landed cost feature in Purchase Orders. Please refer to this help article to know more about the new landed cost feature via the Xero/QuickBooks Online Dashboard.

The landed costs will show in this report if there is an invoice date within the purchase order, and if the landed costs have been imported into your accounting system, via the Xero or QuickBooks Online Accounting Dashboard.

COGS

The COGS value can be agreed to the total of the COGS column in the COGS Breakdown Report.

COGS is generated for Sales Orders and Customer Credit Notes when ALL these conditions are met.

For Sales Orders the Fully Dispatched Date and Invoice Date must be entered. The Qty Ordered must equal the Qty Dispatch for every line item in the Sales Order. COGS will not be calculated for any variance between these two numbers.
For Customer Credit Notes the Completed Date and Credit Note Date must be entered. The “Qty” field must equal the “Qty Moved” field for every line item in the Customer Credit Note. COGS will not be calculated for any variance between these two numbers.
For each Sales Order and Customer Credit Note the Accounting Status (or Accounting Invoice Status) must show either Imported or Do Not Import (if batched). This is found in the sales order or credit note admin page.

Stock adjustments

The Stock Adjustments will show in the report based on the Accounting Adjustment Date entered against the stock adjustment, and the Accounting Status set as Imported or Do Not Import.

Historic stock valuation report

The stock on hand reconciliation report will have different values than the historic stock valuation report.

The historic stock valuation report:

Calculates the stock amount with a range of dates (including Fully Received Date or Fully Dispatched Date).
Shows individual line items
Shows applied stock

The stock on hand reconciliation report:

Calculates the stock amount with the Invoice date.
Shows transactions that are imported into your accounting software (or Do Not Import)