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Change the Inventory value of an item

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Posted on by Naveen5551 85

My client posted adjustment general journals on Inventory account to balance inventory value report with BS.
But there is still difference so we would like change the Inventory value of the Items without changing the Balance sheet value.
For example an item has Stock 10, Cost 10 and Value 1000, I want to change Value to 1200. With which transaction in AX 2012 I can do this? 

Through Inentory managment > Periodic Tasks > Closing and Adjustment, am getting lot of transactions to select for one item, I don't know which transaction I should select to adjust the value. So could you please guide me the right method in achieving this?
We are using the FIFO inventory model. Also we need to do this for many Items, please suggest the easiest way.

Categories:
Inventory management
Financial Management
  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Change the Inventory value of an item

    Hello NewtoAX551,

    If you adjust the value then the complete value of this item will be affected; not only a single transaction. This is what I understood from your previous descriptions.

    Tipp:

    In case you are not absolutely sure how this works, make a test run in a demo/test environment first.

    About standard cost price adjustments:

    Standard cost prices are adjusted in a standard costing version where you enter the prices first in a draft page before you update and activate them. When doing that be careful that the activation of standard cost prices results in an immediate adjustment of the complete inventory value of the respective item.

    Tipp:

    Also here, do some tests in a demo/test environment first if you are unsure.

    Best regards,

    Ludwig

  • Naveen5551 Profile Picture
    Naveen5551 85 on at
    RE: Change the Inventory value of an item

    Thank you Ludwig replying.

    When I use the adjust by Value in closing and adjustment form, the value which I enter is distributing or affecting all the transactions of that item in that screen. So my question is, shall I input the total difference of that particular item then it will distribute equally to all its transactions?

    I followed this, I wanted to know the process of adjusting inventory value for Std. Cost items.

    can you please give more information on this too?

    community.dynamics.com/.../inventory-and-item-cost-correction

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Change the Inventory value of an item

    Hello NewtoAX 551,

    Have you been able to test the value adjustment functionality that is available in the closing and adjustment form?

    Would be great if you could keep us updated.

    Many thanks,

    Ludwig

  • Suggested answer
    Ludwig Reinhard Profile Picture
    Ludwig Reinhard Microsoft Employee on at
    RE: Change the Inventory value of an item

    Hi NewtoAX 551,

    You can adjust an inventory value in the inventory closing and adjustment form by selecting adjustment - on hand.

    (This requires a closing to exist).

    When doing that by selecting adjustment - value

    This is the better and recommended approach.

    Before doing this, clarify this adjustment with your CFO and your auditors as those postings will

    Best regards,

    Ludwig

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