Overview of reports and how they are calculated

This article gives an overview of the different report types and the methodology for calculations.

Reports within Backbar are divided into three tabs:

  1. Inventory Reports - reports about inventory information and physical inventory counts
  2. Order Reports - reports about orders received with vendors and money spent
  3. Other Reports - reports that include a combination of inventory and purchase/spend data or additional insights

Report names will also have different titles that indicate the type of information that will be contained within the report. The general report titles for references are:

  • Overview - provides summary-level data
  • Details - provides item-level details
  • Session - provides information relative to a specific inventory session that occurred
  • Trends - provides a graph or chart showing information of changes over time
  • Comparison - allows you to compare multiple item types or items against each other on the same chart

Item costs and inventory values within Backbar are computed using a First-In, First-Out (FIFO) methodology. That is, the cost for an item is calculated by looking at the most recent costs for the item. Backbar calculates the FIFO cost for each item when an inventory session ends and uses this cost for calculating inventory value.

An accurate FIFO cost will only be calculated if you place your orders through Backbar, enter your invoice costs into the order and confirm delivery of the order. If order costs are not entered, Backbar instead uses the default cost you enter for the item.