Dear Experts,
I want to revaluate one ITem for date 30-03-2015. while selecting an item I am not able select location code the field is disable. Following error occurred. Please advise,
Thanks
With Regards
Mandeep Kaur
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Dear Mandeep
Sorry for Delay
When you Revalue There is Definite Impact to the Financials You P&L and Balance Sheet Will get the Impact of The revaluation
IF you Decrease the Inventory Value By Revaluation then
Inventory Adjustment Account will be Debit
Balance Sheet Inventory Account Will Be Credit.
If You Increase the Inventory Value By Revaluation then
Inventory Adjustment Account Will Be Credit
Balance Sheet Inventory Account Will Be Credit.
Just Look At the Test Report Before Posting My Revaluation where I have to increase the unit cost by 0.50 cents and amount different Going show is Circled in Red.
if you have done the revaluation Correctly then there must be the financial impact.
Thanks
Indika.
Item Value Entry gets affected when you post the revaluation.
Have you managed to resolve your issue?
Check Value Entry table .Its impacted there
Hi,
Please advise how to check the impact of revaluation entries.
when we do the revaluation which tables get effected. As per my knowledge Item ledger entry get effected. please advise.
Thanks
With Regards
Mandeep Kaur
Hi Indika,
Can you please advise me.
Hi Indika,
We are using FIFO method.
Hi Indika,
Thanks, Actually I have resolved the error, which was coming while calculating the inventory. But now once the revaluation is done, there are no changes in the balance sheet.
Actually, we are in process of closing the balance sheet (2014-15)
We have close the income statement, but there is diff. of 4 lac. To adjust this amount we are doing revaluation. Kindly advise.
Thanks
With Regards
Mandeep Kaur
Hi,
We have generated the invoices as well. Kindly advise
Thanks
With Regards
Mandeep Kaur
Hi Mandeep
Error is not familiar to me i haven't face any error like this before but i think you have done some shipment and invoice is not posted. just check the two Item Ledger entries which are shown in the Screen you will be able to find the problem.
Do you have average Costing method of any other option?
thanks
indika.
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