Overview

The standard Business Central has two aging reports dealing with inventory. They are:

• Item Age Composition – Qty.
• Item Age Composition – Value

Why the Value and the Quantity report needed to be separate reports is beyond me.

When we run these reports, we see that you can define an Ending Date.

When you define an Ending Date, it will run the report aged in different time buckets with the ending date that you defined.

The Confusion

What confused some users is that this Ending Date is not when you want to run the inventory aging as of. Rather, you’re just defining the ending date of when the report display the time buckets. For example, if you change the Ending Date to a prior date, it will only show you the inventory aging for those time periods based on the current inventory value.

But what if you want to get a snapshot of your inventory aging as of a certain date?

The Business Case

For example, you’re working with a bank to get a loan. As a collateral, they want the value and the quantities of your inventory.

However, banks are not dumb, they know that inventory value that’s been sitting in your warehouse for a while is not going to be worth the same as what you originally bought it for. They will want you to provide a supporting document to see how old your inventory values are as it relates to your total Inventory Valuation.

What do you do if an external party wants you to provide your aging report as of a specific day?

Your best bet would be to remember to run the standard item aging reports on that specific day. If you forgot to run the aging reports for those dates, then you have to restore a backup and run the report for that specific day.

Back Dating the Item Age Report

Having to remember to run the report or restoring a backup every time you need this report is not realistic and a colossal waste of time. In addition, you never know when you’re going to need it.

To address this, we created an Inventory Aging report that calculates your aging as of a specific date. The best part is that this aging report will match up to the standard Inventory Valuation report so you can easily present these data to your auditors, board members, executives, or any external parties.

Here’s the video to see it in action: