Change the Item Valuation Method

You can use Item Valuation Change Selection to select a new valuation method for multiple items by item code and/or product line. You can also use Item Valuation Change Maintenance to select a new valuation method for one item at a time. You can select a single item in Item Valuation Change Selection; however, Item Valuation Change Maintenance displays additional information for the selected item, such as the current price, cost, and quantity on hand.

Item Valuation Change Selection and Item Valuation Change Maintenance can be used together; you can select a new valuation method for a range of items using Item Valuation Change Selection first, and then select a different valuation method for specific items within the range using Item Valuation Change Maintenance.

Because either window can be used to select items for valuation change, if the same item is selected in both windows, the last window used before the Item Valuation Change Register is run takes precedence. The valuation method is not changed until you select to update the valuation after printing or previewing the register.

Note Inventory items that have an existing quantity on hand (positive or negative) in a warehouse cannot be changed to a lot or serial valuation. If you change an existing item's valuation method to standard cost, historical cost will not exist.

To change the item valuation method

Use Item Value Change Selection to select a new valuation method for multiple items. To select a new valuation method for one item at a time, skip to step 2.

Select Inventory Management Utilities menu > Item Valuation Change Selection.

Note If other selections were previously made, a message appears prompting you to make another selection. Click Yes.

In the New Valuation field, select the valuation method to apply to the items. For more information, see Item Valuation Change Selection - Fields.
In the Operand and Value fields, enter the item codes and/or product lines to apply the new valuation method to.
Click Proceed. When the Selection Complete dialog box appears, click OK.
Perform one of the following:
To select a different valuation method for some of the items selected, proceed to step 2.
To apply the new valuation method to all the items selected, click the Print button. The Item Valuation Change Register window appears. Skip to step 3.

Use Item Valuation Change Maintenance to select a new valuation method for an individual item.

Select Inventory Management Utilities menu > Item Valuation Change Maintenance.
In the Item Code field, enter the item code to change the valuation method for. You can also click the Valuation Entries button to list all items that were already selected for valuation change using either Item Valuation Change Selection or Item Valuation Change Maintenance. For more information, see Item Valuation Change Maintenance - Fields.
In the New Valuation field, select the valuation method to apply to the item, and then click Accept.
Perform one of the following:
To select another item to change the valuation method for, repeat steps b and c.
To apply the new valuation method to all the items selected, click the Print button. Proceed to step 3.

Note If you decide not to change the valuation for an item already selected, enter the item code in the Item Code field, and then click Delete. To clear all selected items from valuation change, click Clear in the Item Valuation Change Selection window.

In the Item Valuation Change Register window, enter the posting date and select the printer or output method for the register. Click Print or Preview. For more information, see Printing Dialog Box (Journals and Registers) - Fields.
After the register is printed or previewed, a message appears, asking to update the item valuation change. Click Yes.

The valuation methods for the selected items are changed, and pertinent information such as the items’ average cost and inventory variances are calculated. For more information, see Item Valuation Change Register.