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Access this window using one of the following methods:
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Select Inventory Management Utilities menu > Standard Cost Adjustment Selection. In the Standard Cost Adjustment Selection window, click the Print button.
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Select Inventory Management Utilities menu > Standard Cost Adjustment Entry. In the Standard Cost Adjustment Entry window, click the Print button.
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Use Standard Cost Adjustment Register to view the standard cost changes entered for the standard cost items before running the update, including the amounts of any adjustments that are generated. The Standard Cost Adjustment Register can also be accessed after using Standard Cost Adjustment Selection or Standard Cost Adjustment Entry. Printing and updating this register is the final step in the standard cost adjustment process.
The register prints the item code, description, old and new cost, warehouse, adjustment date, quantity, and the adjustment amount. The adjustment posted to inventory is strictly a dollar adjustment. The quantity is a reference to show how the adjustment amount was calculated.
Note The register uses the new journal code, IC - I/M Standard Cost Adjustment Register, when posting activity to the general ledger.
Review the Standard Cost Adjustment Register for accuracy. If there are errors, return to Standard Cost Adjustment Entry, make the necessary changes, print the Standard Cost Adjustment Register, and proceed with the update.
Warning Do not, under any circumstances, interrupt the update process.
During the update process, the following occurs:
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The standard cost for each item is updated with the new cost.
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Item transaction history is updated with a transaction record for the adjustment.
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General Ledger postings are made to the inventory and inventory adjustment accounts.
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If no adjustment is required, then only the standard cost for the item is updated with the new cost.
