Hi Nirmala Karunarathna,
Thank you for posting. Gavin is absolutely correct.
The key addiitonal feature is the use of Inventory Periods. You can close an Inventory Period to prevent new Value Entries from being posted on or prior to the Close Inventory Period. The General Ledger Setup and Inventory Periods will be used to determine the cost adjustment date. If you have closed the July 31, 2021 Inventory Period, but the General Ledger Setup Allow Posting From Date is August 15, 2021, the system will record cost Adjustments on August 15, 2021 because it is more restrictive than the Inventory Period. As an alternative, you may have General Ledger Setup back to an Allow Posting From Date of July 30, 2021 to be able to record month end General Journal entries. However, cost adjustment will use August 1, 2021 because the Inventory Period is closed on July 31, 2021, so no further Value Entries will be created on or before the Inventory Period Close Date. These two areas basically provide some flexibility for managing cost adjustment dates. Definitely review Gavin's guidance on User Setup. User Date Range must not be more restrictive in dates, especially if Automatic Cost Adjustment is enabled in Inventory Setup with a setting other than 'Never', because the user must not only be able to post the transaction on the Posting Date but also be allowed to have the cost adjustment generate on the date defined by the rules just provided.
I hope this helps add additional clarification for you.
Best Regards,
Tom
