The deviating balance sheet date inventory is an authorised method of Inventory, This method involves the physical recording of assets in a fixed period before or after the balance sheet date, while a reliable recording system calculates the inventories back or forward to the actual balance sheet date.
In the annual financial statement process, the deviating balance sheet date inventory serves to decouple the inventory from the balance sheet date. This means that assets can be counted even though the actual balance sheet date has already passed or is still to come. Nevertheless, the correct determination of the inventory remains guaranteed, as the counted quantities are converted exactly to the balance sheet date with the help of a recording system.
In SAP Business One, the different balance sheet date inventory is one of the supported inventory methods alongside the inventory on the balance sheet date and the inventory sampling. It is particularly relevant because stocktaking is a necessary step in preparing the annual financial statements. In addition, the inventory count in SAP Business One enables the actual inventory to be compared with the inventory values entered in the Database stored quantities so that necessary stock adjustments can be made. Therefore, the inventory must be completed close to the reporting date before transactions are recognised for the new financial year.
Demarcation
In contrast to the physical inventory on the balance sheet date, the physical inventory of assets takes place on the balance sheet date exactly on the legally prescribed balance sheet date. In contrast, in the case of the deviating balance sheet date inventory, the count takes place before or after this balance sheet date, which is why a backward or forward calculation of the inventories to the balance sheet date is mandatory.
In contrast to the general physical inventory - i.e. the entire process of taking physical stock by counting, measuring or weighing - the deviating key date inventory is a special type of inventory that is characterised by the postponement of the count from the balance sheet date. It is also one of the inventory methods supported by the system, alongside inventory sampling and inventory on the balance sheet date.
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