Actual Costing Method

by
Odoo

299.90

v 16.0 Third Party 93
Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies Inventory (stock)
Invoicing (account)
Discuss (mail)
Lines of code 493
Technical Name oi_stock_account_actual
LicenseOPL-1
Websitehttps://www.open-inside.com
Versions 17.0 11.0 12.0 14.0 15.0 13.0 16.0
You bought this module and need support? Click here!
Availability
Odoo Online
Odoo.sh
On Premise
Odoo Apps Dependencies Inventory (stock)
Invoicing (account)
Discuss (mail)
Lines of code 493
Technical Name oi_stock_account_actual
LicenseOPL-1
Websitehttps://www.open-inside.com
Versions 17.0 11.0 12.0 14.0 15.0 13.0 16.0

Actual Costing Method

"GET COSTS UNDER CONTROL"

This module helps you to have an accurate and actual assessment of the value of your inventory.

Description

The "Actual Costing Method" is a cost accounting system that assigns the actual material cost per lot/serial number instead of assigning an average cost of all the products in stock, getting the cost based on a FIFO mechanism, or using standard costing. This cost is typically acquired from purchase or manufacturing orders and produces accurate costing reports.

While Standard Costing in Odoo sets a pre-determined value per product, and First In First Out (FIFO) uses the cost of the oldest products received, and Average Costing (AVCO) calculates the average of all relevant products in stock. The Actual Costing Method assigns the real value of the received product and saves it. That value (cost) is then used in all subsequent operations/transactions.

The Actual Costing Method is a very useful method to reduce any variances in the costing process that may arise from the default costing methods. It gives a precise, actual cost to each individual product in the inventory and assists in knowing about and analyzing the purchase and manufacturing orders' costs in real-time, even before the orders are completed.

Views

  • INHERIT product.category.stock.property.form.inherit (form)

Dependencies

  • WMS Accounting (stock_account)

Reports

  • Odoo inventory valuation standard report

Key Features

  • Ability to track costs in real-time.

  • Costing at the item level (Lot/serial No).

  • Fully integrated with other Odoo applications.

  • Improves forecasts based on accurate costing data.

  • Ability to track actual costs as products are procured.

  • Accurate cost reporting due to actual cost consideration.

  • Ability to search products with different Lots/Serial Numbers.

  • A preferred method for frequently changing costs & material pricing.

  • Support for different costing methods, e.g., Standard, FIFO, or Average.

  • Automatic computation for product price based on defined Lots/Serial Numbers.

  • Ability to apply costing method at different levels, e.g., Product or Lots/Serial Numbers.

  • Ability to utilize actual cost while receiving/delivering products in the Sales/Purchase process.

Demonstration

An illustration of how this feature works

An illustration of how this feature works

Want to discover more? Watch the app's tutorial on our YouTube! Channel.

Actual Costing Method Module Tutorial Created By Openinside Co. W.L.L.

Need Any Help?

Openinside Co. W.L.L. Logo
Odoo Proprietary License v1.0

This software and associated files (the "Software") may only be used (executed,
modified, executed after modifications) if you have purchased a valid license
from the authors, typically via Odoo Apps, or if you have received a written
agreement from the authors of the Software (see the COPYRIGHT file).

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Do you want an accurate and actual assessment of the value of your inventory❓
by
Openinside co. W.L.L.
on 7/24/24, 11:59 AM Author

GET COSTS UNDER CONTROL


👉 𝗙𝗼𝗿 𝗺𝗼𝗿𝗲 𝗶𝗻𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻, 𝗽𝗹𝗲𝗮𝘀𝗲 𝗰𝗼𝗻𝘁𝗮𝗰𝘁 𝘂𝘀:


🌐 https://www.open-inside.com

📧 odoo@open-inside.com

📞 +𝟵𝟳𝟯 𝟳𝟳𝟰𝟭 𝟳𝟳𝟳𝟳



Landed Cost
by
jeffry@astratech.com.do
on 4/14/23, 8:38 PM

Do you have a demonstration  if apply for each purchase (Stock Picking) Landed Cost how does this will work

Lot1.  1000 + Landed Cost 100 = 1100

Lot2 1500  + Landed Cost 100 = 1600


i have a question, if a change the purchase price after day the cost will be updated?
by
julian.garcia.it@gmail.com
on 4/12/23, 2:25 PM

in our company, we only know the purchase price of the goods after we finish to sell so we need to change the product price after that moment, this module can update the valuacion and cost based of that price change? 

Re: i have a question, if a change the purchase price after day the cost will be updated?
by
Openinside co. W.L.L.
on 4/13/23, 7:44 AM Author

Greetings,

Trust all are well

We have sent our reply to your email address

Regards,


Is it possible to add support for LOT in AVCO mode?
by
Henry Zhou
on 4/7/23, 9:53 AM

I have tried the demo, it seems good.

I found LOT valuation is only available in FIFO mode,   is it possible to add LOT valuation in AVCO mode?

Re: Is it possible to add support for LOT in AVCO mode?
by
Openinside co. W.L.L.
on 4/13/23, 7:44 AM Author

Greetings,

Trust all are well

We have sent our reply to your email address

Regards,



I need a live demo
by
Henry Zhou
on 4/6/23, 4:37 AM

9842766@qq.com

I wonder if I buy same lot products from the supplier twice or more with different price, can this module handle it?


i have a question, if a change the purchase price after day the cost will be updated?
by
julian.garcia.it@gmail.com
on 3/30/23, 3:56 PM


Re: i have a question, if a change the purchase price after day the cost will be updated?
by
Openinside co. W.L.L.
on 4/4/23, 2:38 AM Author

Greetings,

Trust all are well

Can you give more clarification regarding your requirement so we can better understand

Regards,


by
Shree Mahadev Texfab Pvt Ltd
on 3/30/23, 7:29 AM

CAN WE HAVE DEMO?


Re:
by
Openinside co. W.L.L.
on 4/3/23, 2:34 AM Author

Greetings,
Regarding your request, kindly email info@open-inside.com so we can provide you with the demo database.
Regards,


My contact details are as follows: Tomás Vidargas email t.vidargas@ybag.com.mx
by
Tomas Vidargas
on 3/10/23, 9:55 AM


Re: My contact details are as follows: Tomás Vidargas email t.vidargas@ybag.com.mx
by
Openinside co. W.L.L.
on 3/12/23, 1:46 AM Author

Greetings,

Trust all are well

We have just sent you a reply on the email address you have provided

Regards,


We are interested in this product, it is possible to obtain a demo license for one or two days to test the program before buying it
by
Tomas Vidargas
on 3/10/23, 9:53 AM