Cash and valuation

As of 29-07-2026 02:15 GST · ledger cut L-4,182,993 · cost cut C-118,402 · basis FIFO by layer · AED

Management figures Accounting record is NetSuite. i3 reconciles to it and never replaces it. Cost confidence layered 91.4% · estimated 8.6% Excluded per L8 4 keys · 118 units Recon N · Stages S · Export E

Where the cash is sitting

Five stages between paying a supplier and getting paid by a customer. Only four of them are inventory.

1 · Production

AED 1.94M

deposits paid · 6 POs · 8,420 units ordered

Not inventory. IN_PRODUCTION has is_owned = false. This is a supplier prepayment, an asset, but it is not stock and must never appear in an inventory valuation.

2 · In transit inbound

AED 1.28M

owned · 3 shipments · 4,102 units

Title passed at FOB, so GIT_INBOUND is owned and valued. Average 19 days from PI ship to dock.

3 · Received not invoiced

AED 412K

owned · 1,180 units · oldest 4d

Owned per ruling L20: ownership along the inbound path is monotonic. The unpaid invoice is a payable of AED 398K, reported separately.

4 · On hand

AED 7.63M

owned · 44,167 sellable · 51,208 on hand

STOCK, DISPLAY, QUARANTINE, RESERVED and the two program pools. Quarantine alone is AED 84K: present, owned, not sellable.

5 · Consignment out

AED 288K

owned · 5 partners · 1,406 units

Still ours, slowest to convert. Average 71 days on partner shelf, longest 148 at Boksha.

Inventory value over time

90 days · stacked by stage · AED millions

On hand RNI GIT inbound Consignment Production prepay (not stock)

01-0515-0529-0512-0626-0610-0729-07

Commitment ladder

12 weeks · committed vs planned · hatched = terms estimate

Committed · PI milestone Planned Expected receipts value

W1W2W3W4W5W6W7W8W9W10W11W12

Working-capital cycle

computed from i3's own ledger, not from an accounting extract

DIO · days inventory out

104

avg owned value / daily COGS

DSO · days sales out

Shopify 2d · Tabby 14d · COD 0d

DPO · days payable out

weighted by committed AED

CCC

DIO + DSO - DPO

Component	Now	Q2 avg	Delta	Denominator	Not computable
DIO overall	104	96	+8	trailing 90d COGS at layer cost	-
DIO · HQ_319	112	102	+10	trailing 90d COGS	-
DIO · retail stores	61	64	-3	trailing 90d COGS	-
DIO · consignment	148	131	+17	partner-reported sales	1 partner silent 22d
DSO · online	7	7	0	Shopify settlement 2d	-
DSO · Tabby	14	14	0	contractual	-
DSO · retail POS	1	1	0	same-day settlement	-
DSO · wholesale	null	null	-	no invoices in window	yes, and shown as null not 0
DPO · CIC	45	45	0	PI milestones	-
DPO · Al Fahad	30	30	0	PI milestones	-
DPO · Leather Crafts	60	52	+8	terms estimate	renegotiated 12-07
DPO · small suppliers	22	24	-2	terms estimate	9 of 14 have no milestone data

Cost basis and confidence

i3 basis

FIFO by cost layer

Source of truth

cost_ledger (L14)

Read models

layers + current, rebuilt nightly

NetSuite basis

unconfirmed

Currency

AED, integer fils

FX anchor

rate at GRN, not at PO commit

Confidence mix · by value

layered 91.4% est 6.2 ?

layered · AED 8.78M estimated · AED 596K unknown · AED 231K

Any figure where more than 5% of the quantity is priced at anything other than layered is labelled estimated in the UI and in the export. This one is 8.6%, so it is.

Excluded from every figure

4 balance keys are unreconciled (qty ≠ last_balance_after), holding 118 units worth roughly AED 21K. They are excluded, disclosed, and will not be quietly repaired. A compensating row closes them. Open the 4 →

NetSuite reconciliation · period 2026-07

NetSuite is the accounting system of record. This panel exists to explain every difference, not to argue with it.

extract missing for July

i3 management value

AED 9,612,400

cut L-4,182,993 · 29-07 02:15

NetSuite inventory accounts

AED 9,268,100

extract 2026-06 · loaded 01-07 09:40

Gross delta

AED 344,300

3.6% of the i3 figure

Unexplained

AED 18,400

above the AED 12.0K tolerance

timing · AED 192.8K costing · AED 82.6K scope · AED 44.8K unexpl.

timing · the event is in one system and not yet the other. Expected, reported, not alarmed costing method · the two bases differ scope · one system counts something the other does not error · the only bucket that opens a drift case unexplained · exists so an unbucketed delta is visible instead of absorbed

Concept	Location	i3 units	i3 AED	NetSuite AED	Delta	Bucket	Wins	Explanation
Inventory on hand	HQ_319	38,204	5,842,100	5,798,600	+43,500	timing	netsuite	3 GRNs posted in i3 on 28-07, vendor bills not yet entered
Inventory on hand	HQ_325	9,118	1,204,800	1,204,800	0	clean	-	exact agreement
Inventory on hand	MCC	1,842	248,300	231,900	+16,400	costing	netsuite	FIFO layers vs average cost on 41 SKUs bought across a price rise
Inventory on hand	YAS	1,204	168,400	160,200	+8,200	costing	netsuite	same basis difference, smaller population
Inventory on hand	CCZ	988	142,700	142,700	0	clean	-	exact agreement
Inventory on hand	AJM	742	98,400	92,100	+6,300	costing	netsuite	basis difference
Inventory on hand	BAS	610	84,200	78,500	+5,700	costing	netsuite	basis difference
Goods in transit	TRANSIT	4,102	1,284,000	1,142,600	+141,400	timing	netsuite	PI-2026-0712 shipped 24-07, bill posts on arrival in NetSuite
RNI accrual	HQ_319	1,180	412,000	404,100	+7,900	timing	netsuite	2 receipts awaiting invoice match
Consignment out	consign	1,406	288,400	243,600	+44,800	scope	i3	NetSuite carries only 3 of 5 partners. i3 owns the movement history, so i3 wins the explanation and NetSuite is adjusted
Supplier prepayment	-	0	0	1,940,000	by design	n/a	netsuite	IN_PRODUCTION carries no inventory value in i3, correctly. The deposit is a prepayment, an accounting object
Write-offs MTD	all	88	18,200	18,200	0	clean	-	exact agreement, finance-approved path
Shrinkage MTD	all	41	12,700	0	+12,700	error	i3	41 units confirmed lost at MCC, never journalled. DRF-0188
Unallocated freight	-	0	1,290,000	1,284,300	+5,700	unexplained	undecided	freight invoice booked in NetSuite, no matching layer component in i3
3PL_ARAMEX stock	3PL	312	48,900	0	+48,900	unexplained	undecided	a live Shopify location that appears in no PRD, no mockup and no NetSuite account. Needs a mapping decision

Only the error row opened a drift case. Timing, costing and scope are expected differences and are reported, not alarmed. The two unexplained rows sum to AED 54.6K gross, of which AED 18.4K survives netting, and that is over tolerance, so a P2 alert was raised.

Supplier terms and commitments

Every row has the same number of cells. A finance table that shifts a column is worse than no table.

Supplier	Country	Terms	DPO	Vol %	Negotiable	POs	Committed	Next milestone	Due basis	NetSuite ref
CIC Leather	China	45d	45	2.1%	yes	6	1,842,000	17-08	PI milestone	NS-4482913 trusted
Al Fahad Trading	UAE	30d	30	0.0%	no	4	988,400	03-08	PI milestone	NS-4483107 trusted
Leather Crafts Co	India	60d	52	8.4%	yes	3	642,800	14-09	PI milestone	NS-4482044 trusted
Dubai Components	UAE	30d	34	11.2%	limited	3	412,600	10-08	terms estimate	PO-2026-118 fallback
Istanbul Jewellers	Turkey	45d	45	3.6%	yes	2	348,200	31-08	PI milestone	NS-4483562 trusted
Seoul Packaging	Korea	30d	28	6.8%	yes	2	204,900	24-08	terms estimate	PO-2026-121 fallback
Marrakech Rug House	Morocco	45d	51	14.1%	yes	2	188,400	07-09	terms estimate	none
Kyoto Craft House	Japan	60d	60	1.2%	limited	1	164,200	21-09	terms estimate	none
Bangalore Textiles	India	30d	30	0.0%	no	2	142,800	12-10	terms estimate	PO-2026-124 fallback
Ho Chi Minh Fab	Vietnam	30d	33	9.4%	yes	1	118,600	19-10	terms estimate	none
Sharjah Metal Works	UAE	15d	17	4.2%	limited	1	88,400	05-08	terms estimate	none
Milano Hardware	Italy	45d	45	0.0%	no	1	72,100	28-09	terms estimate	none
Ajman Print Co	UAE	0d	2	0.0%	no	2	42,800	01-08	terms estimate	none
Colombo Silk	Sri Lanka	30d	null	null	unknown	1	28,400	12-09	terms estimate	none

A fallback reference is an ops2 order number written into the NetSuite column by the importer when the saved search had no internal-id column. It looks like a NetSuite key and is not one, so it never counts as a document match. DPO null means one PO with no closed payment: not computable, and shown as null rather than as zero.

Which system wins, and on what

Fact	Wins	Why
Quantity of physical stock	i3	NetSuite has no gate reads, no cartons, no EPCs and no counts. A NetSuite quantity that disagrees is corrected in NetSuite
Unit cost before the vendor bill	i3	It is an i3 estimate, labelled estimated, and nothing else has a number yet
Unit cost after the vendor bill	NetSuite	The bill is the priced document. i3 restates to match and books the variance
Inventory value on the balance sheet	NetSuite	i3 publishes a management valuation and reconciles to it. i3 never claims to be the balance sheet
The reason a difference exists	i3	i3 owns the movement history and therefore owns the explanation
Whether a period may be filed	NetSuite	A close may be frozen with no extract. It may not be filed without one

Why production is not inventory

IN_PRODUCTION is a real balance. Units exist against a PO line, the factory is working on them, and a deposit has usually been paid. It is tempting to add its value to the inventory number, and the incumbent pivots do exactly that because they read on-hand rather than owned.

It is wrong. Title has not passed. Nothing has shipped. If the factory burns down tomorrow the loss is the deposit, not the goods. So the stock-type flag table sets is_owned = false, valuation sums over owned only, and the deposit appears here as a prepayment with its own line.

The mirror-image rule is GIT_INBOUND, which is owned: title passes at FOB, so goods on a ship are ours even though nobody can touch them. And ownership along that path is monotonic, which is why RNI is owned too. Ownership does not un-pass when a pallet reaches the dock.

Valuation sums over

is_owned = true only

Never sums over

on_hand

IN_PRODUCTION

prepayment, not stock

GIT_INBOUND

owned at FOB

RNI

owned, plus a payable

WRITTEN_OFF, LOST

not owned, value already gone

No valuation snapshot yet

The nightly job has not produced a snapshot for any date. Valuation is available only from the first snapshot after the opening balance is signed. Until then this page shows nothing rather than computing a live figure from an unverified opening position, which is precisely how i2 reached minus 140,753. Opening stock →

Valuation unavailable

GET /api/valuation returned 503. The last good snapshot is 28-07 02:15 and is 26 hours old. i3 will not extrapolate it forward.

Finance view required

This page needs role ≥ manager plus the finance feature. Your derived persona is WH operator · HQ_319. Personas are derived at login from role, features and rota locations, and are never granted directly, so this is a feature request to an admin rather than a role change. Role mapping →

Valuation is gate-blocked behind GATE-3

GATE-3 requires cost confidence at 95% layered for 7 consecutive days. It is currently at 91.4% and has held for 0 days. Every AED figure below is shadow data, marked not authoritative, and must not be used for a close. Unit quantities are unaffected and remain authoritative. Gate tracker →

Cost model rebuilding

The nightly rebuild of the cost read models from cost_ledger is running, 02:45 to 02:50 GST. Valuation reads are served from the 02:15 snapshot and are consistent. No write path is affected.

Connected to Reports + close POs + PI In transit Production GRN + RNI Suppliers Consignment Cost + price Dead stock Drift Ops health Settings

N recon panel · S stages · E export · U units vs AED · ⌘K palette Every figure on this page states its as-of, its ledger cut and its cost basis. A figure that cannot state all three does not render.