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Standard to FIFO

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Posted on by O3I

Hello,

we recently did our year end close on our items and we are looking to change from Standard Costing Method to FIFO.

Unfortunately we run into the issue with item ledger entries for some items.

Is there a way around this?

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Community Member on at

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RE: Standard to FIFO

Hello,

To add new Items you can also use a Configuration Package for the items you need. I would highly suggest you export the Items that are currently to be renamed, with all the setup fields in place you need and then update the No. field with a NEW No.. This way you have all the valid fields ready to import. NOTE: You will need to remove those fields that are not valid (i.e. Total, Picture). Remember to make sure if Importing the new Items you will need to setup Item UOM table too for these items on import. Not sure if you have Dimensions but these too will need to be created. I normally do these separately after inserting the Item record.

Do you follow? Hope this helps.

Thanks,

Steve
O3I 34 on at

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RE: Standard to FIFO

Thank you!

And how about creating new items?
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Community Member on at

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RE: Standard to FIFO

Hello,

When you say rename, are you trying to keep the same Description? If yes, I would create a Configuration Package, on the Item Table, with the No. and Description Fields. Then update excel with the new Description and Import and Apply.

Hope this helps.

Thanks,

Steve
O3I 34 on at

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RE: Standard to FIFO

Thank you,

We will likely rename the items and create new ones.

Is there a fast method to rename all of the items? We have over 800+ entries to change and would like to do this as quickly as possible.

Much appreciated!
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Community Member on at

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RE: Standard to FIFO

Happy New Year,

As Carmen outlined, the ONLY way to change a Costing Method is to eliminate the old Item and create a New one. I am including a link on the subject in the Microsoft documentation.

https://docs.microsoft.com/en-us/dynamics365/business-central/design-details-changing-costing-methods

Hope this give you direction and helps.

Thanks,

Steve
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CarmenNunes on at

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RE: Standard to FIFO

Hello,

In case you want to change the Item Cost Method for and Item that already have posted I would recommend to start by closing the Item with the wrong Cost Method adding a negative adjustment for the quantities still in stock.

Then create a new Item card with the new Cost Method and make a positive adjustment for the quantities that you previous entered as negative adjustment.

Hope this help you to move forward.
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JAngle 83 on at

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RE: Standard to FIFO

Check out these resources:

www.dynamicsnavconsultant.com/.../

support.microsoft.com/.../reasons-not-to-change-the-costing-method-of-items-in-microsoft-dynamic