I have an item with zero inventory and zero cost but a negative value in three different locations. Drop, warehouse and office. How do I eliminate the negative values in the item journal or revaluation journal? I am on the average costing method.
What is negative value in these locations, quantity or cost? If these are quantities, you should have positive values also on some other location.
The quantity is zero, the unit cost is zero in each location but the value is negative in 2 locations and positive in one location for an avg negative value. I just want to clear this to zero as I have no use for this item again. How do I book it to inventory adjustment with all locations value at zero? I am going in circles. Thanks
I understand, total quantity is zero, but what are the quantity per location? Have you zero quantity on each location?
The quantities are zero per location.
Any suggestions to clear this negative amount in each location?
Before we start with investigation, please let me now how you configure next fields in 'Inventory Setup':
-Automatic Cost Posting
-Expected Cost Posting to G/L
-Automatic Cost Adjustment
-Average Cost Calc. Type
-Average Cost Period
Are you run 'Adjust Cost - Item Entries...'?
What is values for this item on 'Inventory Valuation' report?
Aleksandar Automatic cost posting---- Yes. Expected Cost Posting to GL----Yes Automatic Cost adjustment----Day Average cost Calc type----- item Average cost period--- Day Yes I run adjust Cost- item entries. Inventory valuation report shows: Location Drop: -5496.73 Location 1 -19,980.24 Location 2 3,406.58 total avg : -22,070.39. There is no qty in units or unit cost for any location. How do I clear this up? I do not need the item any longer. Thanks for your help. appreciate it. Peter
Are you usig stockeeping units?
No I am not using stockeeping units. Do you know how to clear the inventory of negative values?
When you run 'Inventory Valuation' report, are you mark 'Include Expected Cost' field on Options tab?
How exactly do you see the negative values? Are you extracting the inventory valuation report filtered by location?
please elobrate a bit on the case. which of the two quantity or amount is showing negative value. and secondly if quantity is showing negative value their hast to be some location were it shows positive value to compensate the inventory. once I get this reponse I will be able to further suggest you a solution as both can be handled
The two scenario's
1] if the inventory is negative and no other location shows positive stock you will have to settle this by putting a positive journal to correct the problem subject to the source of inventory is identified and secondly if the location other than this has positive qty you can do a location transfer for the same and settle the qty.
2] If you have amount as negative, you will have to run revaluation journal and with the suitable value of negative amount revalue the same inventory transaction to settle the value and make it zero.
IN both the scenarios please make sure that the physical source is validated to make corrections in the system
Aleks: There is no Include expected cost field tab on the options tab for inventory valuation report. There is just vatiant, location and detail
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