Serialized Item Valuation Rate calculation
In BizCentric, the value of an item’s stock is updated when certain transactions occur, such as:
- Purchase Receipt
- Stock Entry of type Material Receipt
- Stock Reconciliation made for updating stock opening balance.
BizCentric offers two ways to calculate the value of items: FIFO and Moving Average.
You can choose the method for calculating value either individually for each item or globally for all items in the Stock Settings.
The valuation rates for items are determined based on the chosen method. However, for items that are serialized (like the “MacBook Pro” example), these settings are not considered. Instead, the valuation rate for serialized items is determined by the cost of the first batch of stock received, and it is adjusted based on subsequent transactions involving that item.