How Perpetual Stock Should Work in MYOB Exo
If you want to know where so many MYOB Exo systems are breaking down it is in their stock processes and specifically how stock should be impacting the General Ledger. What makes this process challenging for people is they have to look through the forest and can’t see the trees.
Businesses have 100’s and maybe 1000’s of transactions impacting stock going through MYOB Exo on a monthly basis. So how can you see where things are breaking down when you have to sift through so many transactions?
What we have done in this video is go through a single stock purchase and sale in a standalone basis so you can understand exactly what should happen and you can isolate where your business is doing well, poorly or can improve.
In this video, we will review:
- The timing of transactions hitting the General Ledger through the purchasing and sales process;
- How Stock Clearing should work in your system and why each transaction should clear itself out;
- How Cost of Goods Sold should be calculated and how this impacts the value of stock and the costs which hit the Profit and Loss;
- How MYOB Exo should work “perfectly” for stock transactions and how to identify if your
MYOB Exo is working the correct way.
We believe if your business masters the stock process in MYOB Exo from a General Ledger perspective then you are a long way there to having your system working “perfectly”. This video we believe will help you get a little closer to “perfectly”.