Purchasing & Inventory: Period Inventory vs Interim Inventory

Fourth Customer Success Portal

• February 26, 2019 00:00

Hi there,   Can someone please explain the different procedures for interim inventory vs. month end? What exactly is the process of interim inventory? How does the set-up, open and closing of interim inventory differ from month end?    Best, Rozz

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  Mark Whitmore

  • February 26, 2019 00:00

  Hi,

   

  Interim Inventory is typically used to manage stock between Period Inventories.

   

  Period Inventories are normally associated with the financial periods of a business, but there are times when an inventory may be required to be completed in between these (for example weekly checks on high cost items)​. Any variances in the Interim Inventory  will be shown as an Inventory Adjustment on the period inventory results.

   

  For information how to start an Interim Inventory there is an article here.

   

  Best

  Mark

  Fourth

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• 

  Andrew McEvoy

  • February 26, 2019 00:00

  Hi @Deborah Dreibelbis​, we spoke about these questions and I got them posted here for you – I hope this helps to answer your questions!

   

  Best Regards,

   

  Andrew

  0
• 

  Mark Whitmore

  • February 26, 2019 00:00

  Hi,

   

  Interim Inventory is typically used to manage stock between Period Inventories.

   

  Period Inventories are normally associated with the financial periods of a business, but there are times when an inventory may be required to be completed in between these (for example weekly checks on high cost items)​. Any variances in the Interim Inventory  will be shown as an Inventory Adjustment on the period inventory results.

   

  For information how to start an Interim Inventory there is an article here.

   

  Best

  Mark

  Fourth

  0
• 

  Andrew McEvoy

  • February 26, 2019 00:00

  Hi @Deborah Dreibelbis​, we spoke about these questions and I got them posted here for you – I hope this helps to answer your questions!

   

  Best Regards,

   

  Andrew

  0

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