I have an query , i have a scenario
example : suppose i have item 1, now i purchase this particular item at cost of $ 10
now the costing price will be $15, now I sale this item i have no qty with me , now i again purchase this particular item cost of $10, now I again sale this item. and simultaneously the costing will be change, let suppose it would be $12.5(costing) FIFO method, now suppose i make the return order there is no inventory left with me in item card, now in my case if i make the purchase return order without retuning sales order now my inventory will be negative and the value will also be negative and at that time my costing will be charge as $12.5 suppose at that time my costing is $15 . then system will do
$12.5 direct sale
$ 12.5 invt.adj
$2.5 to inventory account and $ 2.5 to Dircet sales account.
now my query is this that the system will adjust this cost like this , now suppose i want to adjust this cost how can i adjust this cost because due to this my balance sheet is showing difference.
While making Return order
- On Purchase & Payables Setup → Put a check mark against Exact cost Reversing Field
This will ensure that without reference of purchase invoice /receipt return order will not posted. User need to select reference entry for reversing.
If you have do the sales of that items and after that you are returning material to Vendor which is not possible because you have already sold that. You need to make Sales return order First before returning to Vendor.
if i check mark against exact cost of reversing field ,can i able to rectify the old entries by running the costing job.
because my main concern is to rectify the old entries due to which by balance sheet is not matching .
if you have any other solution so that i can rectify the previous entries.
There is a way of correcting the old entries but its quite exhaustive…
Form Item Ledger Entries–>Application–>Application Worksheet–>View–>Applied Entries–>Remove Application (upper right hand corner of screen).
Once unapplied you can Reapply from the following navigation
Form Item Ledger Entries–>Application–>Application Worksheet–>Function–>Reapply
The above navigation is for 2009 SP1 version.
NAV 5.0 has different navigation.