Product Inventory Summary

By Kelsey | Updated

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The Product Inventory Summary keeps track of all inventory adjustments made to your products. Please note that when the costing method (Average, FIFO, LIFO) is changed on an item, Inventory information on the Product/Ingredient Inventory Summary Reports gets Reset. This means that in addition to resetting the Cost and Qty of the item, the historical data for the item on the Product/Ingredient Inventory Summary is also reset. However, this does not affect Product/Ingredient Inventory Log report


Contents


Product Inventory Summary Tour

Revel's defaults your inventory cost to the FIFO method. If you would like change this costing method, please contact our support department.

The various components of the Ingredient Inventory Summary are:

  1. Filters button: Click this to choose product class, vendor, inventory unit, and inclusion settings:

  2. ... Icon: Click this to export your report:

  3. Product: The product that was adjusted.
  4. Starting: The quantity of the product before the adjustment.
  5. Received: The quantity of the product after the adjustment.
  6. Usage/ Return: The usage of product and returns of the item (used in retail).
  7. Transfer (In/ Out): The quantity of product transfered to the establishment and from the establishment.
  8. Layaway: The amount of the product currently on layaway.
  9. Waste: The amount of the product that has been marked as waste.
  10. Return to Vendor: The amount of the product that has been returned to the vendor through RMAs (link).
  11. Adjust: The actual quantity of the product.
  12. End QTY/ On Hand: The available quantity of the product.
  13. Starting Cost: The cost of a single unit of the product before the adjustment.
  14. Ending Cost: The cost of a single unit of the product after the adjustment.
  15. Cost (%): The starting cost over the ending cost.
  16. Total Value: The total value of all units of the products on hand:



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