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I need to adjust inventory current cost on an item asof year-end 2014 but I do not want to post any transactions to the GL.
how can I do this?
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Hi,
Cards - Inventory - Item. Current Cost is an editable field.
Or, do you mean you want to adjust the cost of the "cost layer" (aka Purchase Receipt)?
(Tools - Utilities - Inventory - Adjust Costs).
Thanks,
Justin
WennSoft
Your question is not quite clear, do you mean that you want to adjust the cost of the cost layer up to end of 2014 ? The current cost field is the cost the most recent purchase receipt and it is used only to facilitate any entry so that a default cost is populated.
Your feedback is highly appreciated,
The problem I am having is that the person doing the invoicing decided to adjust the cost during receiving and invoicing of items going into inventory. So now when I run the stock status report, the items are showing up at a lower value than what they should be. I have done the work to figure out what the average cost should be as of 12/31/14 but I need to know the best way to adjust the inventory cost to reflect the average cost.
I think what you want to do is identify the cost layer that was posted improperly and change the cost of that layer. That adjustment should then update the Average Cost on that item. You do this in Inventory>>Utilities>>Adjust Cost. I would do this in a test database first to ensure the end result is what you're looking for.
Just to add to that, you note you don't want to post a transaction to the GL. Adjust costs (while I agree is the correct approach) will post a variance.
Have you tried to run a Historical Stock Status report instead using Historical Cost?
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