A few days ago, I encountered an accountant who asked us to turn off the auto inventory accounting feature of ERPNext because it accounts for stock according to warehouses and not according to product lines. He was particularly concerned about not being able to view the value of stock (according to product lines) in financial reports like Trial Balance and Balance Sheet. I pointed out that stock value could be viewed according to product lines (or Item Groups) in stock reports but he wasn’t satisfied with that; he insisted it had to be the same way in financial reports
Its the first time I’ve encountered this kind of complaint and I just thought to ask the opinion of others who may have more insight into accounting principles and standards. Is it so critical for financial statements to show the value of Items/Item Groups A, B, C rather than total value of items held in Warehouse A, B, C?
By the way, the organization in question is a retail company
Thanks in advance…