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Standard cost adjustment back in time for items and adjust item g/l entries

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Posted on by BrutusG

Hello,

We have a situation where for a number of items that were new, no standard cost were calculated based on the BOM and Routings. So the standard cost is 0. The product has been produced and sold in salesorders. No GL entries were mad because they are 0.

The item was made in june. I would like to set the standard cost on the first day of the item in june and then recalculate all Item entries with that standard cost price from that moment forward. I tried several things but it doesn't work.

What is the proper procedure to do this?

Thank you in advance!

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IB-29041624-0 1,191 Moderator on at

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To be able to fix this you need to do item revaluation to change the cost of your inventory transactions.

You can read more about that procedure in my blog post:

bc365.co/.../

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BrutusG 2 on at

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Thank you! I'm going to test this.

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BrutusG 2 on at

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I doesn't do anything.. no lines appear in the revaluation journal. Does this work for items with the setting 'standard cost'?

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IB-29041624-0 1,191 Moderator on at

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Sorry my bad.

With standard cost this is what you have to do to generate the revaluation journal.

https://docs.microsoft.com/bs-latn-ba/dynamics365/business-central/finance-how-to-update-standard-costs#to-update-standard-costs

I should probably update the blog post.

Hope this works.

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BrutusG 2 on at

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Thank you for your answer. I tried this but BC doesn't generate the G/L entries with new standard cost value on an already shipped sales order.

So the shipment of the sales order and invoicing was done at the end of june and no G/L entries were made, only revenue, but no cost of sales /inventory (credit) because the standard cost was 0. The margin on these line are infinity. Is there a way to generate these lines...?

Thank you in advance.

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Alfredo_Iorio 1,268 on at

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I had the same issue with a recent Go-Live.

This is a known issue and it's due to BC not posting G/L entries with 0 amount.

When you post transactions for items with cost = 0, BC creates value entries with a zero amount.

The value entries cannot generate G/L entries, therefore you are stuck.

Unfortunately, the only option is to create a general journal to fix inventory and COGS.

I would not recommend using development because G/L entries and value entries are tables that I would not touch with code.

Here is an article I wrote recently about the issue

www.linkedin.com/.../

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