Stock reconcilliation and stock value

ERPNext Stock/Inventory
1

I’ve been trying to update the current stock value to the correct actual value through Stock Reconciliation and I am seeing a negative value in the stock balance value.

  • I had an X number of items in the stock with a valuation rate of 162.00
  • The stock valuation was wrong since at the time of stock entry an incorrect value was entered.
  • Created a new Stock reconciliation and added an entry to correct the value, for example quantity of 863 items valued at 300 each. Once this is submitted and checked in the stock balance report, I saw that the total stock value is less that what is actually has to be. For example, instead of it showing the value as 258,900 (863 x 300) it was showing 258,850.
  • Decided to balance this out again so added another stock reconciliation to make stock to zero.
  • Once that is done, I see in the stock balance report Balance Qty as Zero and Balance Value as -1050.

Could some one please shed some light here where I can properly add all 863 items to the stock at Rs.300 each?
Also please educate me on the possible scenarios that would make Balance Qty to Zero but Balance value to a negative value.

Thanks

2

I’m going to piggy-back on this and maybe someone has an answer now, or maybe you found one?

I have a handful of items that were added to inventory with incorrect values/costs. For example, entered at $0.90 instead of actual, $0.09. This has inflated my inventory value which directly relates to taxes.

Is it as simple as doing a reconciliation of all out at $0.90 and all back in again at $0.09? What about inventory?