Stock adjustments are an important part of this report especially if your closing stock numbers have increased or decreased compared to opening numbers, as the value of adjusted stock can make a big difference to your revenue.
How are they calculated?
Stock adjustments are automatically calculated when:
Opening and closing values have been recorded in the Setup - stock values menu in the Livestock screen
The opening and closing tallies of stock for the year are correct for each animal
Alternatively, you can manually enter a figure into each stock adjustment field
TIP: There is no rule dictating what value you should use, whether it's market value, the National Standard Cost (NSC) or the Herd Scheme. Talk to your accountant, bank manager or consultant if you're not sure which to use.
When to include stock adjustments
Every time you view the report or make changes to your actual or budget information, you should fetch the stock adjustments so that you have an accurate picture of your business.
Click on the Stock Adj. tab.
Click on the Fetch Adjustments button.
Click on Update Report to bring the adjustments into the report.
You can also open the calculations in an Excel spreadsheet which displays opening and closing stock numbers and values for each stock class.
REMEMBER: Your livestock automatically ages at the end of the financial year. In terms of value, when stock ages it uses the value of the next age up i.e. a 2th ewe won't close with the value of its code but with the value of an MA ewe.