Step by step
See what your stock is worth
Stock valuation shows what your stock is worth in the books under your costing method, line by line, with the cost layers behind each figure.
The value of your stock is what it cost you, worked out the way your business values stock: a weighted average, or first in, first out (FIFO). Valuation shows that value for every product at every branch, and how Kila arrived at it.
Open Valuation
Open Stock › Inventory › Valuation. At the top Kila says how your business values stock, such as Mkulima Agrovet Ltd values stock on Weighted average: “The method is set by an administrator in the legal entity settings.”
Read the totals
Stock value in the books is the figure your accounts use. At FIFO and At average cost show what it would be under each method: the one your business uses says Method in use, the other For comparison. Consignment units are “Supplier-owned, included above”.
Find a product or a branch
Search by Product, SKU or category, or choose a branch. Each line is one product at one branch, the most valuable first: On hand, Average cost, Open layers, the FIFO value and Average value, and the value In the books.
Open a line for its cost layers
Tap a line. Kila shows its value under your method and the other, and the Cost layers behind it: “Open layers, oldest first”, each with when it was Received, its Source, the Quantity, what is Remaining, the Unit cost and the Value left. Show used-up layers adds the layers already used up.
Good to know
With Weighted average, “Every receipt is blended into one average cost, and issues leave at that average. Layers are still kept, so the FIFO value is shown for comparison.” Kila keeps the layers whatever your method, so you can see what FIFO would give.
What the stock cost has changed
Link to this section: What the stock cost has changedA supplier’s rebate, an import duty or freight correction, or stock worth less than it cost: change its cost with a cost adjustment. Tap a line, then Adjust cost, or tap Cost adjustment at the top: “Revalue the stock of one product at one branch. Quantities do not change; the difference is posted between inventory (1200) and purchase price variance (5020).”
- Type the New unit cost, per bag, bottle or whatever unit the product uses: “Every unit on hand takes this cost, including all open FIFO layers.”
- Check the Effect on stock value: what the stock on hand gains or loses.
- Choose the Reason (Supplier rebate, Import duty correction, Freight correction, Supplier price correction, Write-down to market value or Other), say What changed, and tap Record cost adjustment.
The cost adjustment shows what the cost Was, what it is Now and the Effect on stock value, with its accounting entry. It is listed under Cost adjustments on Valuation.
Needs a manager
Cost adjustments need the right to adjust stock. Above your limit for adjustments, a cost adjustment waits: “ADJ-000035 is waiting for approval: KES 280.00 is above your limit.” Someone with a higher limit approves it, as for a stock adjustment.
- See your stock on hand: quantities and value by product.
- See stock as of a date: what stock was worth at the end of a past day.
- Count stock: when the quantities behind the value are in doubt.
Next: for the value at a month end, see stock as of a date.