When products in your inventory are returning inflated or unexpected profit margins, or they've been receipted or assembled at an inaccurate value, the product's Average Landed Cost (ALC) will need to be updated to re-align it with its expected value and ensure future transactions return accurate reports. To action this correction quickly and easily, and to multiple products at once, import a Stock Revaluation.
When the Stock Revaluation is imported, your product's current ALC is replaced with a new one immediately. The product's total stock value is recalculated, using its new ALC, and any stock movement transactions processed after the import will use the product's updated ALC too, ensuring accurate reporting for your business.
Stock Revaluation role permissions
For a user to be able to import a Stock Revaluation, they must have the permission "Stock Revaluation" granted in their user role.
Points to note when importing a stock revaluation
A product with zero Stock on Hand (SOH) across all warehouses cannot have its ALC updated by importing a Stock Revaluation. A product must have at least 1 unit on hand in at least one warehouse to update its ALC.
Stock Revaluations are not warehouse-specific and will update the product's global ALC.
Stock Revaluations cannot be back-dated and will only update a product's ALC as of the date it was imported successfully.
Import a Stock Revaluation
You can import a stock revaluation at any time to update the current ALC of products in your inventory. Upon successful upload, a value-only Stock Adjustment will be created and completed per updated product, with the reason "Stock Revaluation", to update its current total stock value to its new total value, based on the product's new ALC and total on-hand quantity across all warehouses.
🤓 Tip: Review the Data Import Checklist and Troubleshooting Import Errors articles to help ensure a successful import.
To update a product's ALC by importing a Stock Revaluation:
From the main menu, head to the Inventory > Transactions and select Import Stock Revaluation.
Click on the Download Stock Revaluation Template File button for the CSV template, pre-populated with all products from your inventory that currently have SOH.
Enter the updated ALC in the "NewAverageLandCost" column for the appropriate products. If the NewAverageLandCost column is left blank on a product's row, the product's ALC will not be changed.
Navigate back to the Import Stock Revaluation page, and import the CSV template via the grey upload tile.
Monitor the import's progress through the task manager icon found in your account's banner:
Orange circle: Import is in progress.
Green tick: Import has successfully uploaded.
Red cross: Import has finished but has failed.
Review the history of your inventory's costs
As a product's ALC is recalculated every time the product is receipted, costed, assembled, or adjusted, it's important to keep an eye on how much the value fluctuates over time.
To review an individual product's current and historic ALC, head to the product's record and open the Costs tab where the product's current ALC will be displayed in an uneditable field at the top. Below the product's ALC, you'll find a report grid listing each time the product's ALC has changed, and the transaction that caused it. Each row shows the product's ALC before and after the transaction was completed, making it easy to see where any larger fluctuations have occurred.
To take a look at how all your inventory's costs have changed, go to Reports > Purchases > Costing Analysis Report, and this report will show how your inventory's ALCs have changed to date.
Integrating Stock Revaluations with accounting providers
If integrated with an accounting provider such as Xero or QuickBooks, the Stock Adjustment completed from a Stock Revaluation will export to your accounting provider's default Cost of Goods Sold (COGS) and SOH accounts to be updated accordingly.
If a product's ALC is increased by a Stock Revaluation, the adjusted value will export to debit your integrated SOH account. Whereas, if a product's ALC is decreased from a Stock Revaluation, the adjusted value exports to credit your integrated SOH account and debit your default COGS account.