We use Average Costing for our products - however items that have been in stock for a long time tend to go on sale at a reduced price. We often agree with the vendors beforehand on an amount that they will contribute towards the discounted price. We’d like to reflect this as a reduction in the average cost - is there a way to post a credit memo only to the remaining units of inventory (without it affecting the Average Cost for items sold beforehand)?
Many thanks for your help in advance!
that’s a good question. i’m having the same problem. maybe a revaluation journal is the only solution?
If this “discount” is an actual discount from your supplier, then you can use the Item Charge functionality. Create an purchase credit memo and a line of the type Item Charge. Then assign the amount against the Receipts.
If it’s not an actual discount from a vendor, then the best way to do it is using the revaluation journal.
but the receipts are huge and maybe i have left very few quantities. how can the system only get the remaining quantity field and the invoice appropriate.
Some items were created as positive adjustment too so they will not show in the get from receipt lines.
thank you for your help
Yes Charlotte, that’s correct. The Item Charge functionality is really only supposed to work against specific receipts and allows you to add charges like import taxes, freight etc. directly to the item’s cost price.
If it’s a “general” cost price change of items in inventory, then you’re better of with using the revaluation journal.