End of Month Stock on Hand for Profit and Loss report

SVSP wrote about a Profit and Loss Statement
I am happy enough to be able to put in my sales figures, but I want to know what is the value of the stock on hand. Even carrying a small amount of stock can add up, and it is vital to know the value as you can have a lot of $$ tied up sitting on your shelf.

So its not the product revenue that I need, it’s stock value on hand, to be part of my profit and loss account.

We have multiple practitioners, and we all have our own product, rather than have 1 “shop” for all

I have entered all my items with the prefix MW (my initials) to show mine. In the admin, we have found a product report, that shows all product that has been entered into the system as a new item, and it’s stock on hand, as an Excel spreadsheet. This was quite useful because apart from 9 items from another practitioner, the rest were mine. We simply removed those 9 items and sent the remainder to me via email. So it showed me all the products that had been added to the system between 2 calendar dates - I just just need it to look at the value going foward.

I can now keep that on hand, and use it manually, by entering the stock levels at the end of each month - but it will be a slow job.

If I could ask Cliniko for a stock value report, and specify either a supplier, or a key word, I could get the value in a few clicks. This would be huge for me, and I don’t think it would be a large amount of work.

What do you think?

Regards

Staywellman

I’m really surprised no one has commented on this. How else do you manage your stock value when creating your P&L every month?

Im guessing since no one has commented that either the users dont carry stock or they do manual stock takes…?

Haven’t been on these discussions much but this is a major issue for us. We have over 800 items for sale as products and Cliniko drives me nuts.

To answer Staywellman, I use excel exporting “Products” (no date range) and invoices items (selected date range). Using “vlookup” I cross reference the product code from “Products” to “Invoice Items” and get the cost price for the items sold in the date range which I can then subtract from the total revenue for profitability. You need to enter some formula’s but most of this I have automated with macros.

Cliniko is close to having a decent system, but in all the conversations I have had with them, they are not very concerned with inventory unfortunately.