I have very critical case , where i need the best help , if any solution may occur .
An item FBP00011 costing method = standard = 10$
we sold more than 100 invoices for this item in price 5 $
after having a report showing the gross profit in minus becuase we are selling in 5 $ and the cost is 10 $
We find that the sales prices is correct and a stupid user entered wrongly the standard cost .
the standard cost should be 3$ .
what i should do to correct the unit cost in item ledger entries . i can correct the standard cost in item card but I couldn’t correct the unit cost in item ledger entry where I am expecting there must be a way to be corrected .
“a user that we had not trained correcly” [;)] Users are users, and you need to train them to do their jobs, insults and abuse will not fix the situation.
Next, you need to run a revaluation journal to change the standard cost of the item. Make sure to do this with the user, so they learn from it and do it better next time.
yes you are right but the problem , that i have to correct more than 300 entries with more than 100 items .
It’s very hard to correct old entries even they are trained well .
Show me how are you doing the revaluation … to adjust all those entries … it seems for me impossible to be done … how we must do it exactly step by step …
if you go to revaluation journal and run the batch , it will adjust only the stndard cost on item card and not the unit cost in itemledger entry ,
Maybe someone should train the trainer? First point to look for help if not trained properly: Online help.
Here is a quote:
START QUOTE
Inventory Revaluation
Inventory Revaluation
The inventory value of an item can change over time, for example, as a result of damage or age.
If you want to change the inventory value of an item or a specific item ledger entry, you must use the revaluation journal.
You can also use the revaluation journal to correct incorrect posted documents.
Revalue Expected Costs
The program supports revaluation based on actual costs. However, for items using Standard costing method, the program will also revalue based on expected costs. This means that for standard-cost items, inventory that is received but not invoiced can also be revalued. Accordingly, such expected inventory costs are also included in the Calculate Inventory Value batch job like any actual inventory costs. However, only if you select to calculate per item, by location and by variant (on the Options tab of the batch job request form).
Note that by revaluing standard-cost items based on expected costs, the related interim inventory accounts will be affected.
The Revaluation Journal
In order to use the revaluation journal, you must consider the extent of the revaluation. There are two ways of filling in the journal with information about the current, calculated value of the specified item:
You can enter a line manually and link it to an item ledger entry in the Applies-to Entry field. This will change the inventory value of all units of this item ledger entry. It will also change the inventory value of the units that are applied to this item ledger entry, regardless of their posting date.
You can fill in the journal by using the Calculate Inventory Value batch job. This method allows you to specify exactly how the revaluation will change the inventory value of an item or item ledger entry. The revaluation will be valid for entries relating to this item or item ledger entry from the posting date of the revaluation journal.
Related Topics
Filling in the Revaluation Journal with the Batch Job