Eight Tips for Handling Inventory Close with Microsoft Dynamics AX 2009

As the year draws to a close, it's time to do inventory closing with Microsoft Dynamics AX 2009. From an accounting perspective, this means settling transactions between issues and receipts, as items can be issued at one value and received at another value. 

While inventory close is no longer required when using the standard cost method, it is required for other costing methods.  With standard close, differences between the item's standard cost (used for issues) and receipt transactions will post to variance accounts, as determined, resulting in inventory always valued at the standard cost.

So the following points apply to all costing methods except standard costing:

• Inventory values are based on the running...

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