News and Announcements icon

Dynamics 365 CommunityForums Finance | Project Operations, Human Resources, ... How is the cost date u...

Finance | Project Operations, Human Resources, ...

Suggested answer

How is the cost date updated on the cost tab

(0) Share

Report

Report

Posted on by Community member

Hello!

I am trying to get info on how the cost price on the cost tab for a FIFO item is updated/can be updated automatically.
Item model group is setup

Latest counting is done 2022-09-30

The setup on the purchase tab look like this

The setup om the Cost tab looks like this

There is difference in both dates and amount.

Is the cost price updated with some more settings?

Will the cost price be updated after some inventory closing is done?

I aapreciate to get some links to answers here or from Microsoft Learn

All responses Img

All responses (2)

Answers Img

Answers (0)

Hana Xue Microsoft Employee on at

Like (0)

Report

How is the cost date updated on the cost tab

Hi,
The cost date on the Cost tab for an item is usually updated based on the date associated with the inventory transactions that affect the cost of the item. The cost date represents the date when the item cost was last updated or modified in the system. You can view the following old thread for reference.
https://www.dynamicsuser.net/t/fifo-item-cost-price/61147
Best Regards,
Hana
Suggested answer

Kevin Xia Microsoft Employee on at

Like (0)

Report

How is the cost date updated on the cost tab

Hi,

You can refer to this official documentation: FIFO with physical value and marking - Supply Chain Management | Dynamics 365 | Microsoft Learn. A periodic inventory close is required when you use the FIFO inventory model to create settlements and adjust the value of issues according to the FIFO principle. Until you run the inventory close process, issue transactions are valued at the running average when the physical and financial updates occurred. Unless you're using marking, the running average is calculated when the physical or financial update is performed. Or you can also refer to this blog: www.dynamicsuser.net.

Best regards,

Kevin

Helpful resources

Quick Links

Leaderboard

#1

André Arnaud de Cal... 291,759 Super User 2024 Season 2

#2

Martin Dráb 230,468 Most Valuable Professional

#3

nmaenpaa 101,156

Leaderboard

Featured topics

End-of-life Announcement for Microsoft Dynamics GP

Product updates

Dynamics 365 release plans