We are doing a mass update to our item numbers and all the associated item cards. I have been put in charge of figuring out which GL accounts to put on the item cards.
Does the Purchase Price Variance field need to have an account number, or can it be left blank? And the same question for Unrealized Purchase Price Variance? I have tested leaving both blank when billing through SOP, and I have no problems posting, except that a Cost Variance Journal prints out with zero dollars. I was unsuccessful in finding any documentation regarding the SOP Cost Variance Journal.
We are a manufacturing company (not using the manufacturing module), so most product is manufactured. But we do have some items that we purchase for resale. I have noticed that the "Revalue Inventory" box is inconsistently checked and unchecked.
I appreciate any guidance.
Best,
Kim Kempf
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