Extension : FIFO Costing
The FIFO Costing module computes costs on a "First in, First Out", per-product basis, considering stocked quantities and prices from purchase invoices. Multiple costings derived from arbitrary lists of organizations and warehouses can be calculated and recorded for historical analysis.
Click here for information about buying commercial modules.
Integrated
The industry standard FIFO costing method is implemented in a fully integrated way, with a new tab added to the Product window and a control flag added to the Invoice Line tab.
Easy and Flexible
The FIFO costing method is easy to understand and use, and this module provides additional functionality to provide flexible analysis for companies with multiple warehouses and/or organizations.
Brought to you by:
Openia Srl – Software and Consulting, is an Italian open source software provider and consultancy, specializing in the needs of regional SMBs. Openia has been the Openbravo Master Distributor for Italy since July 2010.
Configuration
The FIFO Costing module lets you configure one or more "FIFO Configuration(s)", which consists of:
- a list of warehouses, from which product quantities are extracted, and
- a list of organizations, from which purchase prices are extracted.
Support is also provided for the exclusion of specific warehouse bins and invoice lines from the FIFO cost calculation.
Processing
Snapshots of FIFO costs are computed and stored whenever you run the "Compute FIFO Costings" option. To use this option, simply choose an "As of Date" and a "FIFO Configuration", and the process will calculate and store the desired FIFO Costs.
Information Access / Analysis
A "FIFO costing" tab is added to the "Product" window, providing convenient access to FIFO costing information such as:
- Average FIFO unit cost
- Date of computation
- FIFO configuration
- Stock quantity at time of computation
- Total FIFO valuation at time of computation
Additionally, a FIFO Costing Report provides the same product-level information, summarized by Warehouse and Product Category.
Screenshots
Package name
Version
Contract Type
|
Works for
Module footprint
Databases supported
|
Zone 1