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Source truth: - Accounts - Journal Entries - Posting and Reversal - ADR 0020: Initial Release Scope and Financial Workflow Taxonomy - ADR 0024: Operational Summary Workflow Boundaries and Purchasing Facts - ADR 0028: Standard-Cost Inventory Period Summaries - ADR 0029: Cross-Workflow Accounting Event Identity - Inventory Period Summary Fact Contract

Inventory Summary

Inventory Summary records summarized inventory activity and accounting for inventory valuation, cost of goods sold, variances, and reconciliation evidence.

Current desktop availability

Inventory period-summary preparation and posting behavior is implemented behind services, but it is not wired into current desktop navigation. This page describes BooksPlus 1.0 scope and accounting boundaries, not a procedure users can perform now.

Workflow family placement: Operating Transaction Capture / Inventory & production.

See Accounting Imports and Batch Review for the shared import, evidence, review, approval, and posting process used across Sales and Receivables, Purchasing and Payables, Inventory, and Banking and Finance Summary. Inventory uses reviewed standard-cost period summaries and keeps its valuation, movement, variance, and reconciliation facts distinct from related Sales and Purchasing events.

  • Accept or enter summarized inventory valuation facts from external operations.
  • Review valuation basis and as-of-period metadata.
  • Reconcile inventory valuation to inventory control accounts.
  • Post approved inventory accounting effects through the normal posting path.
  • Preserve evidence that explains valuation and variance decisions.

Reconciliation

Inventory valuation should reconcile to the ledger.

The review should make clear:

  • the as-of date or target period;
  • the valuation basis;
  • the ledger balance being compared;
  • whether a variance remains;
  • whether missing cost, negative inventory, or valuation mismatch needs review.

Inventory differences may occur, but they should be visible, explainable, and supported by evidence.

Inventory accounting posts through the normal posting path. Inventory review should not bypass journal entry, period, evidence, or close controls.

Initial release boundary

For the initial release, BooksPlus does not own operational item masters, stock movement, warehouse operations, perpetual inventory, sales operations, purchasing operations, payment execution, or banking work. Those activities remain in external operational systems. BooksPlus accounts for summarized inventory valuation and variance facts accepted into the accounting workflow.