FIFO inventory costing that knows what your stock is worth

How FIFO costing works in ProcessRipple

• Every receipt creates a cost layer. When you receive a purchase order, the quantity and its unit cost are recorded as a layer at that location, in your home currency.
• Shipments use the oldest stock first. When you ship a sales order, ProcessRipple consumes the oldest layers first and records the actual cost of the goods shipped.
• Per location. Each warehouse or shop keeps its own layers, and transfers between locations carry their cost with the stock.
• Assemblies roll up. When you build a kit or assembly, the cost of the components consumed becomes the cost of the finished good.

Inventory value on any date

Most tools show what your inventory is worth today. ProcessRipple also shows what it was worth on any past date — month end, year end, the day of a stock count — using nightly snapshots and the full transaction history. The inventory valuation report takes an as-of date.

Margins based on actual cost

Because each shipment records its real FIFO cost, the sales and margin by customer and sales and margin by product reports show the margin you actually made, not one based on a standard cost you set months ago.

Counts and adjustments

Run inventory counts, post adjustments with a reason (damage, theft, count error, found stock, lost in transit), and see the count variance and inventory aging reports. Every report exports to Excel and PDF.

Into your books

Receipts, shipments and assemblies sync to QuickBooks Online with their FIFO cost. See QuickBooks inventory sync.