on hand by date

On hand by date

 

Hi, I’m James, here with a Fishbowl troubleshooting tip. We’re going to talk about On Hand By Date, which is a little different than trying to hold your date’s hand… I recommend that you know who they are first.

Okay, On Hand By Date: How much you have on hand, your goods, your inventory, parts, et cetera on any particular day. This is really helpful. Another way to think of this is it is a historical quantity.

The problem people run into, well one – they’re using a kitty cat calendar, but then they’re trying to figure out from their total on-hand by date what their inventory evaluation is or what the total costs are.

You can’t do that. And any kind of number that you try and frankenstein together, well, it’s going to be that current cost, not what it was a month ago, two months ago. It’s going to be that current value – so it’s going to be inaccurate.

So, what can we do to fix that? Because this route doesn’t work and that’s not what On Hand By Date is for. So instead, the fix is let’s schedule a monthly task – you could even do it a little more frequently if you wanted to – where we’re going to use our inventory evaluation, let’s say set it at the last day of the month, so we can then combine those numbers and know what our On Hand By Date is through that report, but then also how much that value was for that inventory using whatever standard that your company uses.

You then have the email report sent to you, and you can file that in your records so you have all that information, so that you save yourself a headache down the road if you’re trying to go back and look it up. You’ve already done a preventative measure.

So this is a little quick overview of On Hand By Date. Don’t try to do this; it won’t work and kitty cat won’t cheer you up. Sorry.

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