Item Revaluation Journal

Hello,
I’m setting up the item inventory management in Business Central Navision.
Up to now, this was a manual system in Excel and I try to recreate the inventory in BC as from 01 Oct 2020 up to now.

Important is that the quantities & actual costs in BC are the same as in the manual system.

I have entered already data purchases-sales-consumption from Oct2020 up to Aug2021.
Now I’m checking the monthly data to match the manual system.

For the first month Oct2020 I have a small difference on 3 items, quantities are correct, value is higher/lower.
I would like to adjust the inventory value with the item revaluation journal, but the ‘Calculate Inventory Value’ does not show the quantities and Inventory Value (Calculated) as when I export the Oct data to excel and make manual checks.

All items have 'average ’ costing method.

Question : can I adjust the inventory value of an item just for the transactions up to the end of that month?

Thank you in advance for your quick replies.
Dirk.

Dirk,

You will need to enter the Revaluation Journal specific to the Item Ledger Entry you want to revalue. Let me explain in this example:

First, find the “Entry No.” you want to revalue in the “Item Ledger Entries” list for this item. I want to revalue the positive adjustment posted on 12/31/2013. In the Item Ledger Entries list below, the Entry No. for that Item Ledger Entry is 34:

pastedimage1631022267738v1.png
Figure 5 – Locate the Entry No. of interest in the Item Ledger Entries list

Next, populate the Revaluation Journal by manually entering the item number, then the Entry No. Finally, enter the “Unit Cost (Revalued)” and post:


Figure 6 – Enter the item number, the Entry Number, and the Unit Cost (Revalued)

You may encounter the error regarding being out of the allowed posting date range. In this case, you might need to change the General Ledger Setup date range, the User Setup date range, and/or reopen an inventory period. The challenge here is that the General Ledger posting may be in a prior accounting period. If this is the case, you would likely post a General Journal that moves the accounting effect out of the closed period into the current period.

Hope this helps.

Thanks,

Steve

1 Like

A couple notes

  1. The cost change applies to the entire Item Ledger Entry “Quantity”, not just the “Remaining Quantity”. Remember to run “Adjust Cost” to push any applicable cost changes out to applied entries.

  2. Uninvoiced entries cannot be revalued. (unless there’s been a recent change I don’t know about)

1 Like

Actually if you use Calculate Inventory Value, it will get the Remaining Qty, if you enter Applies-to entry manually, it will get the Quantity.

1 Like

We are talking about revaluing explicit “Item Ledger Entries”. “Calculate Inventory Value” is not used here. An explicit journal line needs to be created for each “Item Ledger Entry” to be revalued.

Yes, “Calculate Inventory Value” is based on “Remaining Qty” as it’s calculating the current value.

1 Like