End of Month (EOM) Inventory Report
The EOM Inventory Report is exclusively available to customers subscribed to our Accelerate or Elevate plans. You can review our pricing plans here.
If you're interested in accessing this report and want to review pricing plans, please reach out to your Settle Customer Representative for assistance.
The End of Month (EOM) Inventory Report provides a complete, downloadable summary of your inventory activities and associated costs at the end of each month. With this report, you can quickly review inventory balances, movements, and valuations to make informed decisions about your business.
The EOM Inventory Report includes essential metrics such as beginning and end-of-month inventory balances, quantities received, transferred, sold, and any write-offs, all in one place.
Why use the EOM Inventory Report?
This report is designed to give you a consolidated, easy-to-read view of your inventory and cost data over a full month. With this report, you can:
Get a Clear Overview: See exactly how inventory levels have changed over the month.
Simplify Financial Reporting: Use the report to support audits, tax filings, and other compliance needs.
Make Informed Decisions: Leverage accurate inventory and cost data to improve business planning and inventory management.
Key features
Detailed monthly metrics
Each EOM Inventory Report provides the following data for each of your catalog items:
Catalog Item Name and SKU: Identifies each item in your inventory.
Location Code : Shows the physical location where the inventory is stored.
Category: Category of the item, if applicable.
Beginning of Month Balance:Starting inventory count as of the last snapshot on the final day of the previous month.
Received (GRNs): Total units received during the month as recorded by Goods Received Notes (GRNs).
Consumed by Work Orders: Units used in production or internal processes tracked by work orders.
Transferred: Units moved to other locations within your inventory system.
Sold: Total units sold during the month as recorded by your sales orders.
Write-Offs: Units that need to be removed from inventory, calculated as a balancing figure to ensure accuracy.
End of Month Balance: Ending inventory count as of the final day of the month.
Cost of Goods Sold (COGS): Calculated total cost of units sold, based on the landed costs of each inventory batch.
Inventory Valuation: Total cost value of units still in inventory at month-end.
Write-Off Valuation: Cost value of units marked as write-offs, supporting accurate financial reporting.
Easy Report Access and Download
Monthly Automation: Each month, an EOM report is automatically generated and ready for download on the first day of the following month.
Historical Reports: Access and download reports for previous months to review past inventory data.
Spreadsheet Format: Download the report as a spreadsheet for easy viewing, sharing, and analysis.
How to access the EOM Inventory Report
Navigate to Reports: Go to the Reports section in your Settle dashboard.
Select EOM Inventory Report: Choose the End of Month (EOM) Inventory Report option.
Choose the Month: Use the dropdown to select any historical month. Note that the report for the current month will only become available on the first day of the next month.
Download the Report: Click Download to export the report in spreadsheet format.
Frequently Asked Questions (FAQs)
Q: Why can’t I see the current month’s report?A: EOM reports are available on the first day of the following month. This timing allows for all end-of-month data to be processed accurately.
Q: Can I generate weekly or custom-date reports?A: Currently, EOM reports are only available on a monthly basis. We may introduce more date range options in the future based on user feedback.
Q: How are costs calculated if there’s missing landed cost data?A: For any inventory batches with missing cost data, the report will use a fallback cost associated with the catalog item to ensure accurate valuations.
Tips for making the most of your EOM Inventory Report
Use for Audits and Compliance: This report is designed to support audits and can simplify financial reporting.
Identify Trends: Compare reports across months to identify inventory trends and adjust your strategy as needed.
Reconcile Monthly Movements: Use the detailed metrics to reconcile monthly activity for each inventory item, helping you maintain accurate records.
For any questions or additional support with the EOM Inventory Report, please contact our support team.