Hi, i am Pavani. currently learing navision classic… Can anyone help me what is the procedure for accounting schedules for finance management (Period Closing) in Navision classic.
i dont have any meterial or could’nt find any post relating to this topic
As i am new to the Navision… i am trying to learn how a month closing will happen…
during this process when i am trying to close one perticular month the system is throughing an error " The inventory period cannot be closed because there is at least one item where the cost has not been adjusted"
for rectification of above entry and to close the period of one month what am i suppose to do…
you suggested to run adjust cost batch job for all items.! but while doing this it is allowing me to run adjustment cost item wise…
but in big companies we have many item code… do we need to run the cost adjustment item wise or is there any option to run cost adjustment for all the items at time??
costing methods are completely based on your GL posting only … they define how the item cost shud be calcultated based on your transaction history… they work only if your inventory is psoted to GL…
FIFO changes the item cost based on the posting date of each entry,…
LIFO is reverse of FIFO… last posted entry will first effect the unit cost of the item
Average uses the average cost of all transactions for the inventory period…
standard is more or less the same…
specific is based on lot no specific costing method…
so first golden rule is inventory shud be posted to GL if you want costing to be working…
you suggested to run adjust cost batch job for all items.! but while doing this it is allowing me to run adjustment cost item wise…
but in big companies we have many item code… do we need to run the cost adjustment item wise or is there any option to run cost adjustment for all the items at time??
i have a doubt in this regard, in many companies there will be a chance that only PO’s will be generation for the required purchases… how can we make sure for all the PO’s materails has been received by us before month closing… there will some open PO’s also
Navision does the costing only if the invenotry is effected… if PO’s are not posted or SO are not shipped then that is not correct to cost your items based on the open POS and SO…
so when they are posted after the inventory period then… you need to run the batch job again…for the past inventory period as well.
first job should be Post inventory cost to gl and then Adjust Item Costs/Prices…
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