Does the Aged Report in SIMS gives the same values of the Valuation Report?
SIMS provides for the printing of an aged report from the Reports Menu, Stock Items, Aged Stock List. The aged report is based on the Last Purchase Date field available on each stock card.
|
The options available are the following:
|
Supporting the above options, the report also includes the standard filtering functions available in SIMS. While analysing this report, it is important to note the following:
The report prints the quantity in stock as at today and not the quantity balance as at the user entered date.
If a stock item had a balance of 10 with a purchase date of 15 June 2015 and another 100 units were purchased again on 15 February 2016, the total quantity of 110 will be shown under the column of 15 February 2016 and not split in two. The system considered the total quantity with last refreshed date.
The date selected by the user is the main reporting criteria of the report as the system will only include the stock items where the last purchase date is less or equal to the date entered by the user. This means that if a user enters the aged date as 31/12/2015, the system will only print the items which were purchased on or before 31/12/2015 and it will not include any items purchased after this date.
For those stock items which do not have a last purchase date, they will be shown under the last column of the report. The system will update the last purchase date with Purchases (local and foreign) and Receipt of Finished Goods but not with the adjustment add.
Last Purchase date and Last Receipt mean the same thing.
Question: Should the total of the Aged Report tally with the Valuation Report?
As detailed above, the aged report includes items where the last date is equal or less to the user entered date and prints the quantities as at today. This means that the user can never compare the valuation to a given date with an aged report. Entering the aged date report with a backdated value (31/12/2015) is not analysing the quantity as at that date but reporting only the stock items still in stock today but with the purchase date of less than or equal to 31/12/2015. The valuation to a given date works out the quantity as at the user given date which is completely different from the aged report.
For your own confirmation that both report totals do tally in the valuation, enter the aged report date with a future date to cover all the purchase date in the system and compare the result with the valuation to date and not to a given date.
Related Articles
Why do I have a difference in the valuation to a given date?
The main reason why you may have differences when you print the valuation report to a given date is mainly because of back posting. Please note that SIMS works in the weighted average costs formula to compute the cost of the valuation of all items in ...Valuation to a given date; filter by location
When issuing a valuation to a given date but filtered for particular locations, the quantity will still be printed correctly but there might by some anomalies with the value of stock. This is explained in the example below.Managing BCRS Purchase Charges in SIMS
Introduction All purchases in SIMS are only allowed to inventory products and not to non-inventory items. With the implementation of BCRS from Monday 14th November 2022, and if you purchase products that fall within this new scheme, you will be ...Tracing a Journal entry from SFM to SIMS interface
This article provides a step-by-step guide on how to trace a journal entry from SFM back to the source of the posting. In the below example, we have identified a journal entry through the Nominal Audit Trial listed as JR 000040 with values of €150 ...How to run the SIMS Archive process
The SIMS Archive function reduces the size of the data store in Live by splitting the same data set in a different database, within the same company. This process improves the SIMS performance as it compacts the Live data set. Users can then access ...
Recent Articles
How to Reverse a Sales/Purchases Transaction in SFM
Reversing Entries in SFM Once users confirm an entry in SFM, they cannot modify any of its elements. The only available option is to reverse the entire transaction and re-post it with the correct values. The system supports both simple reversals and ...Setting Up BOV SEPA v9
Before proceeding, please ensure you are using the latest version of SFM. Starting October 5th, 2025, Bank of Valletta (BOV) will begin processing live transactions using the new SEPA file format (version 9). The older version 3 format will no longer ...How do I process a Nominal Reconciliation?
Procedure for Reconciling a Nominal Account (Current Year > Nominal > Nominal Reconciliation) Account Field: Select the relevant Nominal Account from the drop-down menu that you wish to reconcile. Details Field: Enter any necessary free text in the ...How to Update SFS
For optimal results, update SFS directly from the server. Important notes before updating: - All Users: Log out of SFS, SIMS and SFM (if applicable). - Remote Desktop Users: Log out of SFS, SIMS and SFM before disconnecting from the remote session. ...How to Add Custom Footers per Client basis
If you want to apply the same footer across all your invoices or the same footer across all your statements, please refer to this article: How to insert document footers in SFM If you need to use different footers for specific clients, SFM also ...
Popular Articles
How do I process an End Of Year in SFM?
Overview SFM allows posting into two financial years simultaneously. This means that users do not need to finalise 2024 before starting to post entries into 2025. The end of year procedure will move the “Current Year” data into the "Previous Year". ...Do I need to Process an End-of-Year in SIMS?
SIMS does not require an end of year procedures to be run. However, SIMS controls users to only allow posting of transactions, such as sales invoices, cash sales, adjustments and purchases, within a range of dates referred to as the Posting Period. ...How to setup a System Control Account in SFM? (Bank Account, Cash Account, Stock Control, etc...)
Create the Account in your Chart of Accounts as seen below. Please make sure you use the code depending on your Heading and Sub-Heading digits. After creating the account, you need to specify the account as a System Control Account. Go to Support > ...How to reset your Shireburn remote desktop service (RDS) account password
The password for the Shireburn RDS Account used to connect to RDS server is set to expire after 90 days. A notification is provided to the user daily starting 5 days prior to the expiry date. In order to change password, the following steps need to ...SIMS - User Manual
The attached PDF includes the necessary functions and features of SIMS to get you started. SIMS User Manual.pdf