Unit Cost

Hi, we have an item that is currently the cost is 48.00 and we have transaction in it. the original cost of this item is 24 but somebody put in value of 24 in the Overhead rate so the unit cost became 48. We are changing the 48 to 24 again but the system does not allow us to change because there are transaction in it. Please advise. many thanks.

I think the easiest way would be to credit and then requisition it again. Or, use the Item Revaluation Journal to make an adjustment of the book value.

check if re-evaluating the item from the revaluation journal will solve your problem

You have few purchases you could make a credit memo and then post again purchase order.

hi guys, thanks for your input. i tried the revaluation and the item is not appearing in the Revaluation journal when i try to run the calculate inventory value… the item is not a standard cost. please advise. many thanks.

It depends on the Item Ledger Entry’s Posting Date and the date that you write into the batch’s Posting Date.

If you e.g. set Posting Date = 2008-01-31, the batch will only fetch entries on and before 2008-01-31. And the quantity will be the one as per 2008-01-31.

If the stock pr. your Posting Date is 0 (zero), nothing will appear in the Revaluation Journal.

You only have one entry to correct, so try this in Revaluation Journal:
*Insert a new line manually
*(don’t mind the Posting Date)
*Fill in Document No.
*If not visible on form, set in field “Applies-to Entry”
*In field “Applies-to Entry” point out the entry to correct

Now - take a look at the journal’s Posting Date (=same as the original entry). And the fields “Unit Cost (Revalued)” and/or “Inventory Value (Revalued)” are ready to be changed.

hi. thanks for the info. when i try to do this the original cost that appear in the line is not 48 but 24 instead so i cannot post the lines because the unit cost should be 24.

Then the entry itself seems to be correct.

Is it possible that you haven’t used batch “Adjust Cost…”?

i think i remember i run that utility but how can i change the display in the item card.