Configuration de la valorisation de l’inventaire¶
Inventory valuation refers to how you value your stock. It’s a very important aspect of a business as the inventory can be the biggest asset of a company.
La valorisation de l’inventaire implique deux choix principaux :
La méthode de coût que vous utilisez pour évaluer vos produits (standard, FIFO, AVCO).
The way you record this value into your accounting books (manually or automatically)
Ces deux concepts sont expliqués ci-dessous.
Méthodes de coût : standard, FIFO, AVCO¶
The costing method is defined in the product category. There are three options available. Each of them is explained in detail below.
- Prix standard
Opération
Coût unitaire
Qté en réserve
Valeur de delta
Valeur d’inventaire
10 €
0
0 €
Recevez 8 produits à 10 €
10 €
8
+8*10 €
80 €
Recevez 4 produits à 16 €
10 €
12
+4*10 €
120 €
Livraison de 10 produits
10 €
2
-10*10 €20 €
Recevez 2 Produits pour 9 €
10 €
4
+2*10 €
40 €
In Standard Price, any product will be valued at the cost that you defined manually on the product form. Usually, this cost is an estimation based on the material and labor needed to obtain the product. This cost must be reviewed periodically.
- Prix moyen
Opération
Coût unitaire
Qté en réserve
Valeur de delta
Valeur d’inventaire
0 €
0
0 €
Recevez 8 produits à 10 €
10 €
8
+8*10 €
80 €
Recevez 4 produits à 16 €
12 €
12
+4*16 €
144 €
Livraison de 10 produits
12 €
2
-10*12 €24 €
Recevez 2 Produits pour 6 €
9 €
4
+2*6 €
36 €
In AVCO (Average Cost), each product has the same value and this value is the average purchase cost of the product. With this costing method, the cost of the product is recomputed as each receipt.
The average cost does not change when products leave the warehouse.
- FIFO
Opération
Coût unitaire
Qté en réserve
Valeur de delta
Valeur d’inventaire
0 €
0
0 €
Recevez 8 produits à 10 €
10 €
8
+8*10 €
80 €
Recevez 4 produits à 16 €
12 €
12
+4*16 €
144 €
Livraison de 10 produits
16 €
2
-8*10 €-2*16 €32 €
Recevez 2 Produits pour 6 €
11 €
4
+2*6 €
44 €
In FIFO (First In First Out), the products are valued at their purchase cost. When a product leaves the stock, that’s the “First in, first out” rule that applies.
Pay attention, that this is a financial FIFO. The first value “in” is the first value “out”, no matter the storage location, warehouse or serial number.
FIFO is advised if you manage all your workflows into Odoo (Sales, Purchases, Inventory). It suits any kind of users.
Inventory Valuation: Manual or Automated¶
There are two ways to record your inventory valuation in your accounting books. As the costing method, this is defined in your product category. Those two methods are detailed below.
It is important to also note that the accounting entries will depend on your accounting mode: it can be continental or anglo-saxon. In continental accounting, the cost of a good is taken into account as soon as the product is received in stock. In anglo-saxon accounting, the cost of a good is only recorded as an expense when this good is invoiced to a final customer. In the tables below, you can easily compare those two accounting modes.
Usually, based on your country, the correct accounting mode will be chosen by default. If you want to verify your accounting mode, activate the developer mode and open your accounting settings.
Manual Inventory Valuation¶
In this case, goods receipts and deliveries won’t have any direct impact on your accounting books. Periodically, you create a manual journal entry representing the value of what you have in stock. To know that value, go in .
This is the default configuration in Odoo and it works out-of-the-box. Check following operations and find out how Odoo is managing the accounting postings.
Continental Accounting¶
- Facture fournisseur
Débit
Crédit
Assets: Inventory
50
Assets: Deferred Tax Assets
4,68
Passif : Comptes créditeurs
54,68
- Configuration :
Purchased Goods: defined on the product or on the internal category of related product (Expense Account field)
Deferred Tax Assets: defined on the tax used on the purchase order line
Accounts Payable: defined on the vendor related to the bill
- Réception des marchandises
Pas d’écriture comptable
- Facture client
Débit
Crédit
Revenues: Sold Goods
100
Liabilities: Deferred Tax Liabilities
9
Assets: Accounts Receivable
109
- Configuration :
Revenues: defined on the product or on the internal category of related product (Income Account field)
Deferred Tax Liabilities: defined on the tax used on the invoice line
Accounts Receivable: defined on the customer (Receivable Account)
La position fiscale utilisée sur la facture peut avoir une règle qui remplace le compte de revenu ou la taxe définie sur l’article par un autre.
- Customer Shipping
Pas d’écriture comptable
- Ordres de production
Pas d’écriture comptable
At the end of the month/year, your company does a physical inventory or just relies on the inventory in Odoo to value the stock into your books.
Create a journal entry to move the stock variation value from your Profit&Loss section to your assets.
Débit |
Crédit |
|
|---|---|---|
Assets: Inventory |
X |
|
Dépenses : variations d’inventaire |
X |
If the stock value decreased, the Inventory account is credited and the Inventory Variations debited.
Comptabilité anglo-saxone¶
- Facture fournisseur
Débit
Crédit
Assets: Inventory
50
Assets: Deferred Tax Assets
4,68
Passif : Comptes créditeurs
54,68
- Configuration :
Purchased Goods: defined on the product or on the internal category of related product (Expense Account field)
Deferred Tax Assets: defined on the tax used on the purchase order line
Accounts Payable: defined on the vendor related to the bill
- Réception des marchandises
Pas d’écriture comptable
- Facture client
Débit
Crédit
Revenues: Sold Goods
100
Liabilities: Deferred Tax Liabilities
9
Assets: Accounts Receivable
109
- Configuration :
Revenues: defined on the product or on the internal category of related product (Income Account field)
Deferred Tax Liabilities: defined on the tax used on the invoice line
Accounts Receivable: defined on the customer (Receivable Account)
La position fiscale utilisée sur la facture peut avoir une règle qui remplace le compte de revenu ou la taxe définie sur l’article par un autre.
- Customer Shipping
Pas d’écriture comptable
- Ordres de production
Pas d’écriture comptable
At the end of the month/year, your company does a physical inventory or just relies on the inventory in Odoo to value the stock into your books.
Then you need to break down the purchase balance into both the inventory and the cost of goods sold using the following formula:
Cost of goods sold (COGS) = Starting inventory value + Purchases – Closing inventory value
To update the stock valuation in your books, record such an entry:
Débit |
Crédit |
|
|---|---|---|
Assets: Inventory (closing value) |
X |
|
Expenses: Cost of Good Sold |
X |
|
Expenses: Purchased Goods |
X |
|
Assets: Inventory (starting value) |
X |
Valorisation de l’inventaire automatique¶
In that case, when a product enters or leaves your stock, an accounting entry will be automatically created. This means your accounting books are always up-to-date. This mode is dedicated to expert accountants and advanced users only. As opposed to periodic valuation, it requires some extra configuration & testing.
First, you need to define the accounts that will be used for those accounting entries. This is done on the product category.
Continental Accounting¶
Configuration :
Accounts Receivable/Payable: defined on the partner (Accounting tab)
Deferred Tax Assets/Liabilities: defined on the tax used on the invoice line
Revenues/Expenses: defined by default on product’s internal category; can be also set in product form (Accounting tab) as a replacement value.
Inventory Variations: to set as Stock Input/Output Account in product’s internal category
Inventaire : pour configurer un compte de valorisation de l’inventaire dans la catégorie interne du produit
Comptabilité anglo-saxone¶
Configuration :
Accounts Receivable/Payable: defined on the partner (Accounting tab)
Deferred Tax Assets/Liabilities: defined on the tax used on the invoice line
Revenues: defined on the product category as a default, or specifically to a specific product.
Expenses: this is where you should set the « Cost of Goods Sold » account. Defined on the product category as a default value, or specifically on the product form.
Goods Received Not Purchased: to set as Stock Input Account in product’s internal category
Goods Issued Not Invoiced: to set as Stock Output Account in product’s internal category
Inventaire : pour configurer un compte de valorisation de l’inventaire dans la catégorie interne du produit
Price Difference: to set in product’s internal category or in product form as a specific replacement value