Theoretical On-Hand Report
Overview:
The Theoretical On-Hand Report calculates the quantity that should be on-hand (theoretical) for Inventory Items, Combined Items, and Production Items that are counted. The report runs for a selected Site and a selected date. The theoretical on-hand amounts are reported in quantity and dollars. An example is shown below:
Things to know!
- This report will only be accessible and visible to users who are given access to this report function.
- The Theoretical On-Hand Report will calculate and list the theoretical quantity and value of Items in your Inventory.
- Theoretical inventory is the amount of inventory that should be on the shelf based on activity that has occurred since the last inventory count.
- The Theoretical On-Hand Report will list Inventory Items, Combined Items, and Production Items that are counted.
- Any value displayed in blue can be drilled down for added detail when the report is displayed.
- This report defaults to print item values by Pack Size. Items can be configured, however, to report by Count Unit for this report. For more information on changing the "Reporting Unit", please see this link: Report Units - FAQs.
The Formula for Theoretical On-Hand:
Theoretical On-Hand = Beginning Inventory + Received +/- Transfers - Production - Theoretical usage from sales
The Theoretical On-Hand quantity for an item or items can be used to do a spot check on inventory (what is on the shelf versus what should be on the shelf). The Theoretical On-Hand can also be used to help calculate a Suggested Order quantity. For example, It can be compared to your desired Par Level to suggest how much to order. It can also be compared to a Usage Projection to suggest how much to order.
Report Parameters
To Run a Theoretical On-Hand Report, use the Sidebar to navigate to the Ordering menu option and then select the Theoretical On-Hand report. Upon selection, a Report Parameters screen like the one below will display:
Site: Use the drop-down search to select a site (unless you are logged into a site).
Report Date: From the drop-down calendar, select the desired date for the report.
Inventory Department: If you want to run the report for a specific Inventory Department (an example might be the Food Department), you can use the drop-down to select your desired Department.
Inventory Category: If you want to run the report for a specific Inventory Category (an example might be White Wines), you can use the drop-down to select your desired Category.
Inventory Item Group: If you want to run the report for a specific Inventory Group (an example might be Dairy), you can use the drop-down to select your desired Group.
Run Report: Once you have selected your report parameters, click the Run Report button to list the report.
Theoretical On-Hand Report:
Selecting to Run the Report in detail will display a report similar to below:
The Report shows reference information first, then the theoretical usage calculation information, and then the theoretical count and value on hand. The formula for the theoretical usage calculation is Theoretical Usage = (Sales Items sold X Sales Item recipe ingredients), + (Items produced X Production recipe ingredients).
The formula for theoretical on-hand is Theo On-Hand = (Beginning Count, + Received, +/- Transfers, +/- Production) - Theoretical Usage.
Report Options: For a description of the toolbar provided at the top of the report, please see "Report Options" for help. Report Options link.
Drill-Down Option: You can hover over and click on a total that is in light blue to see the transaction detail creating the total. An example of clicking on the drill-down option for the Theo Usage column for Bread Sour Dough Sliced is shown in the report below:
