Skip to main content

Purchasing & Inventory: Period Inventory vs Interim Inventory

Fourth Customer Success Portal
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
0 votes

Linked Ideas

Comments

Mark Whitmore

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

Andrew McEvoy

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

Mark Whitmore

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

Andrew McEvoy

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

Please sign in to leave a comment.