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We have some inventory adjustments that were added to BC and they did not have the correct cost. What is the best way to correct this? Do you have to reverse the entry and redo the adjustment?
Thanks,
Tanya
Just to add to what the other people wrote.
If the item ledger entries created from the original adjustment is still open and have full renaming qty. i would reverse and redo.
If you have transaction that have reduced the open qty on the adjustment transactions i would do item revaluation.
I have described the revaluation process in this blog post.
This is what I did for these because they actually for this purposes did not have a GL impact as we are doing beginning balances. I was just wondering for future what is everyone else doing to fix these types of issues. GP used to let you actually change the amount of the inventory transaction and then you had to post the gl entry to fix gl, but it fixed your cost layer.
Hi, If the adjustment occurred in the current month, and the month has not been closed, I personally recommend using the same cost to reverse it. This will make it clearer in future investigations.
Also, as mentioned by BenDB, you can use Item Revaluation Journal to appreciate or depreciate an item.
More details: https://docs.microsoft.com/en-us/dynamics365/business-central/inventory-how-revalue-inventory
Hope this also helps.
Thanks.
ZHU
Hi,
Without knowing anything really about how you have setup inventory in your system, you could consider the use of the 'revaluation journal' functionality to correct specific Item Ledger Entries.
On the 'revaluation journal' you will set the 'Applies-to Entry' field to be the posted item adjustment entry that you want to change.
Keep in mind that the 'Unit Cost (Revalued)' value is the correct cost per unit and not the difference between the posted 'adjustment' value and the value that you want the cost to be.
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