Item Valuation Change Maintenance

 

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Change the Item Valuation Method

Overview

 

 

 

Fields

 

 

 

 

Related Topics

 

 

Item Valuation Change Selection

Product Line Maintenance

Item Valuation Change Methods

Transaction Entry

Item Valuation Change Register

Receipt of Goods Entry

Inventory Detail Transaction Report

Delete and Change Items

 

Navigation

Select Inventory Management Utilities menu > Item Valuation Change Maintenance.

Overview

Use Item Valuation Change Maintenance to view and edit selections from the Item Valuation Change Selection utility. You can also enter valuation changes item by item.

If an item's valuation method is changed to or from the standard cost method, and the standard cost amount is different from the actual cost at the time of receipt (in either Transaction Entry or Purchase Order Receipt of Goods Entry), the costs in the item file are also changed. The variance between these costs is posted to the general ledger Inventory Adjustment account (established in Product Line Maintenance) when the Item Valuation Change Register is updated. To change the valuation method for an item that is normally reconciled in the Inventory Detail Transaction Report, print the Inventory Detail Transaction Report before the valuation method is changed, and delete the detail for that item using the Delete and Change Items utility.

Item Valuation Change Maintenance posts any adjustment to the inventory account and to the adjustment account if there is a cost difference between the old valuation and the new valuation.

Note Review your entries before updating them to the item file. When the total quantity on hand for all warehouses has been distributed, accept the new valuation information.

Note Inventory items that have an existing quantity (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, the historical cost will not exist.

Fields

 

Item Code

New Valuation