FIFO

WAKU Care can value a deployment’s spare part inventory using the FIFO principle (First in, First out). FIFO means: the stock booked in first is considered consumed first. This is a common basis for the accounting valuation of inventory.

What FIFO is used for

WAKU Care provides the FIFO analysis as a FIFO accounting report that you can export as CSV. The report evaluates a deployment’s inventory movements using FIFO and is suited for accounting and cost analysis. It enables precise tracing of a part’s purchase price — depending on what price that particular delivery had when it was received.

Note

Example: In January, 3 distance sensors are purchased at 10 € each. In February, 10 more sensors are purchased at 15 € each. If 2 sensors are assembled in January, the FIFO report calculates 2 × 10 € = 20 € for those. If 2 more sensors are assembled in February, the result is 1 × 10 € (last sensor from the January delivery) + 1 × 15 € (first sensor from the February delivery) = 25 €.

Prerequisite: Use Incoming inventory locations

FIFO reports are based on bookings made via the Incoming section. Only there are purchase prices and package numbers recorded per delivery — the basis for the FIFO calculation. For how to set up Incoming and make bookings, see Stock & Incoming.

Exporting the report

1. In the inventory area, open the FIFO accounting report export
2. Select the deployment
3. Select the period
4. Adjust the format options if needed:
   • Delimiter (comma) — for international CSV compatibility
   • Decimal separator (dot)
5. Download the CSV file

Note

The format options help produce a CSV file that fits your spreadsheet or accounting software (depending on regional/language settings).

Related

• Stock & Incoming
• Managing Parts