We are having Fixed price projects.
We put the items needed in Item Requirements
Create PO for those lines
When items arrive, we receive the items in the PO (Post the Packing Slip and Invoice update the PO)
4.In the Item requirements for we post the Packing slip for the specific line and send the Items to the Project site.
Now if we look at the Inventory transaction for Line No. 4, we can see the Qty, Project ID are all correct, but the COST AMOUNT IS ZERO. The issue is how do we know at any point of time what is the total cost for all those items despatched to the Project site?
I would check 2 things first:
Chcek the project posted transactions. See the voucher entries. The cost may go to Project related account. Also check the PO voucher entry.
Check the project statement, consumption tab. There is a field for item consumption which should be updated.
1Check the project posted transactions. See the voucher entries. The cost may go to Project related account. Also check the PO voucher entry.
ANSWER: In the Project transactions, there is no transaction pertaining to this particular transaction. PO voucher is OK.
- Check the project statement, consumption tab. There is a field for item consumption which should be updated.
ANSWER: I checked the Project statement for Item and then I verified under the Item consumption and found it empty.
I would check the following.
What is the unit price set on PO generated from item requirement?
What was the Inventory model set to on Item model group. If standard cost, did we define the Item price?
What was the cost price displayed on item requirement?
When viewing the posted transactions did we keep any filters like Start date, End date? Clear them if we did.
What is the transaction status on the Item?
What is the cost price showing on item’s on-hand form?
Perform inventory re-calculation just for this item and check cost amount after settlements being made by the system.
Thanks for the reply.
To cut short, my issue is resolved. As you mentioned Inventory re-calculation was the answer.
Thanks and regards