How to activate Average Cost in Biztory?

Modified on Thu, 20 Aug, 2020 at 4:31 PM

1. Click "Help" to submit a ticket to Biztory. In order to activate average cost feature.

The changes after activating average cost

1. Total cost shown in stock report will be reflected in Balance Sheet as "Closing Stock/Inventory". So that the amount will be shifted from "Purchase" to "Closing Stock/Inventory".

For example, when you are using last cost method, your stock report shown your stock cost is RM26,228.24 and purchase is RM31,979.26. Then, once you activated average cost method, your purchase will become RM5,751.02 and the RM26,228.24 will reflected in Balance Sheet as "Closing Stock/Inventory"

Before activating - Purchase is RM31,979.26

After activating - The amount of "Closing Stock/Inventory RM26,228.24" + "Purchase RM5,751.02" = old "Purchase RM31,979.26".

2. The associate account will be changed from "Purchase" to "Closing Stock/Inventory" automatically.

Please kindly be reminded that once you have activated average cost, the total amount of new "Closing Stock/Inventory" + new "Purchase" (after activated average cost) must be the same as the old "Purchase" (before activating average cost). If not, please kindly let the customer support knows, we will assist you