Thank you so much. We know that Frappe team is hard at work.
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Financial Accounting IFRS edition by Weygandt, et al.
There are two assumed cost flow methods:
- First-in, first-out (FIFO)
- Average-cost
There is no accounting requirement that the cost flow assumption be consistent with the physical movement of the goods. Company management selects the appropriate cost flow methodâŚ
very few companies use perpetual FIFO or average-cost to cost their inventory and related
cost of goods sold. Instead, companies that use perpetual systems often use an assumed cost (called a standard cost) to record cost of goods sold at the time of sale. Then, at the end of the period when they count their inventory, they recalculate cost of goods sold using periodic FIFO or average-cost and adjust cost of goods sold to this recalculated number
This is what I mean by having period closing inventory process. The python process can be activated as an OLAP long running process at the period end to have precise inventory costing, while the Transaction entries which are OLTP in nature can quickly be saved or posted without consuming a lot of computing power resource.
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Nabin I have given the reposting issue a lot of thought and I would love to have a discussion about it. Iâll start a thread and link it here.
Most of my ERP implementations are importers and their #1 requirement is to be able to update the cost of a past Purchase once Landed Costs are finalized in the future like Duties, Freight and so on
I have been against mandatory immutable stock ledger because some processes and some industries simply cannot function normally without being mutable, like: Landed Cost Voucher
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Materiality principle in Accounting does not require the recomputation of future transactions of backdated entries. When a backdated entry is needed, the business is not required to recompute already done Stock transactions. Rather, the subsequent transactions will simply pick up the backdated entry. Review can show, based on timestamps, how backdated entries were picked up. ERPNext does not have to make it hard on itself. Accounting allows business some slack.
Perhaps Iâm misunderstanding, but isnât the whole point of the Landed Cost Voucher that it updates an already submitted/immutable entry? Under what circumstance would you want to submit a Landed Cost Voucher before landing costs are known?
Itâs not immaterial when youâre adding landed costs like $100 to a $500 worth of goodsâŚ
Itâs quite material when the additional $100 goes to Stock Adjustment account rather than Cost of Goods Sold.
@peterg not the point I was making
To understand this issue in detail youâll have to see the problem in action and follow old discussion by Nabin about it
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As you like. You might look back at Nabinâs explanation of the immutable ledger will work, though, because as things stand it appears you are misinterpreting what the changes will actually entail vis-a-vis the mutability of vouchers.
Hi @nabinhait
Trust youâre doing good. Any updates so far? Currently, it looks like some kind of limbo state cos we need to sort this out before we can put it to any serious use. The current issues with immutable ledgers make it a no-no in most cases so weâre hoping that the option of using the old system (with some enhancements) is made available in the next beta release. At least we are familiar with that system and we can immediately begin working with that in less-critical environments
As you know, the real major testing only comes in production use and so far, this is the only thing holding us back
As always, thanks to you and the entire team for the awesome work done so far
Cheers
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Hello @nabinhait!
First of all, Thanks for your hard work and noteworthy efforts to make an amazing system for everyone.
I am stuck in the data import process after working on the new implementation for the last few months, we have updated to v13 and realized that it no longer supports backdated postings. Now you know; it is very hard to rollback. We in-house implementing ERPNext in our Enterprise Level Company. But Frankly speaking, we are still not ready for the immutable ledger.
As you said
Can I ask you for an update, whatâs the overall progress? because, it will help us to rethink the current implementation plan.
Thanks again for your amazing work!
Inventory is without doubt the most complex aspect of any ERP. It would be good if you can resolve the issues with recalc/valuation of inventory.
a. For computational ease - we can run recalculation of inventory as a batch.
b. There is no alternative but to allow for such revaluations however - inventory is messy and as such there are numerous situations where we need to back post.
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I am working to allow back dated entries on v13. The development is 90% completed, some final touches need to be done.
It should be live within next 2-3 weeks.
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Thank you very much for the update, it took nearly two weeks to downgrade my system to v12.
Lovely to hear that I can upgrade again!
Does this mean that future dating of stock entries / documents with stock impact, will be allowed going after the changes are introduced in v13?
Sent the PR, a few test cases are breaking, it will be merged as soon as those tests are fixed.
It will be part of the next beta release which is scheduled for 23rd December.
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This is most welcome news! Finally weâll be able to give V13 some live trials. Thanks a whole lot @nabinhait
Cheers!
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The back-dated stock transactions are now allowed in version-13-beta-7 and develop branch
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Great to here that. thank you
Hi sir,
I got an error when submitting the Delivery Note. Please have a look and help me to resolve the issue:-
erpnext version 13.0.0 beta 6
frappe framework v13 beta 8
There should be some settings to turn off that control.