Dear All, I would like to ask you about consignment system of a retail company and retail method of costing, the costing is not standard navision costing (FIFO, LIFO,Average,Standard) but retail method. Also, the consignments consists of buy and off, consignment in and consignment plus. I also don’t find forum relates to sales and distribution here. any helps from you are awaited and expected. rgds, Mark
Can you explain a little more about “Retail” costing method ? Examples might be helpful.
Dear Thomas, All, I’ve read it in an accounting book for retail. I don’t exactly know it but I have googled and found it but never heard its application before except one of a retail company here.any explanation from you is expected. tks a lot be4hand rgds, Mark
Here is the address of Retail method of costing: http://www.accd.edu/sac/slac/ppointshows/acct/retail_method.htm sorry I gorgot to insert it be4hand. rgds, mark
Hi Mark I would argue this method is not really used any longer with many computer based systems, unless the accountant or business specifically needs it. What you need to do is stop any integration of costing in Navision, they essentially work this out manually and post manual journals. I know retail customers who do not use this method.
Dear Steven; All, Tks a lot for your reply. I just wonder why it’s arisen. I mean the method is really new that Navision development team disregard it to include it in Navision. In Indonesia, I know there is some companies use this method, and they want to check their values of inventory monthly using this method to determine cost. But if it can be post manually, it means they must use journal, and let me know what journal it is. Rgds, Mark
Dear All, I would like to ask you about consignment system of a retail company, how navision cope with consignment in Navision ? I have known about retaillium add-on, but if I skip it and only using navision standard, what granules they are ? tks a lot be4hand Rgds, Mark
Dear All, Thomas, I would like to ask you about consignment system of a retail company, how navision cope with consignment in Navision ? I have known about retaillium add-on, but if I skip it and only using navision standard, what granules they are ? Pls answer me. tks a lot be4hand… Rgds, Mark
quote:
Tks a lot for your reply. I just wonder why it’s arisen. I mean the method is really new that Navision development team disregard it to include it in Navision. In Indonesia, I know there is some companies use this method, and they want to check their values of inventory monthly using this method to determine cost. But if it can be post manually, it means they must use journal, and let me know what journal it is.
Hi Mark Navision handles ths perfectly. You turn off all costing interaction, this is what this method is, and if you do not know what a journal is you really need to look at the software before making any suggestions to your client or making any code changes. They looking at the general journals, or better, go on the Navision Financial course.
quote:
I would like to ask you about consignment system of a retail company, how navision cope with consignment in Navision ? I have known about retaillium add-on, but if I skip it and only using navision standard, what granules they are ? tks a lot be4hand
You will need to define what YOU mean by consignment, what do you want Navision to do?