Recent we do have scenario which need to set consigned item transcation with zero cost & the model is . We need Keep track inventory but not the cost. Does is suitable use or consigned part?
The consigned item will receive through Arrival journal. However, does there any alternative can receive consign item into warehouse, without PO?
Appreciate the help …
what difference it will make whether which costing method you are using if you don’t wont to track the inventory costs.
You can use inventory Movement Journal to take stock into Warehouse.(You can take with zero cost)
Make sure you track financial inventory at warehouse level and define the zero cost in the costing version otherwise you will create variances. The movement journal and the profit and loss journal will receive stock in.
hi… Thks a lot. The scenario why use standard cost is due help customer keep stock.
Example: Customer place order: 100 qty, sales price: 200. Invoice qty: 100. however, customer request keep qty 50 in warehouse & physical shipping is qtty 50. Movement journal can allow the cost is zero. But, profit & lost journal dint allow cost change due to standard cost model.
If you standard cost at this level the inventory value maybe zero when you define it as zero, but this will cause the variance accounts to be hit with the standard cost. To achieve this you actually have to tell the system that the standard cost at that warehouse is zero, and then the profit and loss journal would work. If you do not define this yes you can change the cost, but the financial entries are still made.
Hi…apreaciate the help. How i can tell the system that the standard cost at that warehouse is zero? untick the storage dimension warehouse → “financial inventory”? How it associate to profit and loss journal?
Original the qty 100 is located at main warehouse (with cost). We post the full invoice qty 100 from mainwarehouse. But, shipment qty 50. After that, will create an inventory profit/loss journal to receive the qty 50 into customer warehouse due customer request balance shipment in another 3~6 month for qty 50.