How do the rest of you roll the last direct cost into your standard cost rollup? Looking at it, there appears to be nothing out of the box that takes the last direct cost and moves it into the cost rollup function. It looks like Purchasing would have to hand key the last direct cost into the standard cost on all purchased items. Not a great scenario. Thanks
The inventory revaluation journal has an option that allows the standard cost to be updated using last direct cost.
Can you give me more details on how to run this? My initial test haven’t been successful. Thanks
Sure. Try Inventory / Re-Valuation Journal / [functions] / calculate inventory value / options tab to set calculate per =item, update standard cost =yes, and calculation base =last direct cost. I think you also need to have inventory of the item for it to work.
If the item does not have any invemtory in stock then the standard cost will be updated straight away otherwise it will update once the revaluation journal is posted. Cheers Peter