Update Cost of an Item after Receipt

Hi!

I wish to know whether it is possible to update the unit cost of an item after receipt of the item in inventory.

Is the Adjust Cost-Item Entries batch job a possible solution?

Thanks in Advance

Beatrice.

Use the revaluation journal and either bring in the inventory trandsactions from the functions or apply it directly on the line - this revalues the inbound transaction and pushes through to COGS etc.

Are you talking about Landed Cost? If so use Item Charges on a Purchase Invoice and link it the Receipt Line.

Hi!

I have tested it and you are right.

But one thing is that when I post the receipt of my order, the Status of the PO becomes Released.

Then to enter my item charges, I have to Reopen the PO, enter the lines for my item charges and make the item charge assignment.

One additional question though, if I have entered a PO for a foreign vendor and posted the receipt. What if the item charge I am entering for this PO is in local currency?

I guess that I will have to convert the item charge to the currency of that invoice?

Can you confirm this please?

Regards

Beatrice.

You don`t need to Reopen the original PO - create new PO (or PI), enter your Item charges, and assign to lines from first original PO. Little bit messy to find the right lines, but in can be done:)

Such indirect item costs may appear with a rather big time shift - say some transportation costs or like - but if user wants to link them to exactly where they belong for more precise item costing, this is the way how it can be done. It even doesn`t matter, if the “vendor” for such additional expenses is different from the item supplier.