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Hi All,
We have uploaded standard cost on today, so can we activate standard on back date 31st march
Can any one please suggest me.
Thanks,
Hi,
Have you tried changing your session date to 31 March and then activating your standard costs?
Best regards,
Ludwig
Thank you@Ludwig
We can activate standard costs by changing session date but is this best practice? and what are the impacts
Thanks
Hi sunil,
Changing the session date is the only option that you have if you want to activate those prices as of a specific date.
The impact is of course that the standard cost price activation will calculate and post the difference between the old and new standard cost price and multiply it with the item quantity. This amount will immediately be posted as a voucher that affects your profitability. In other words, if you increase standard cost prices you get immediately 'richer' because stock value increases and an 'income' account is posted. On the other hand, a reduction in the standard cost price makes you 'poorer' as an additional expense is posted and stock value is reduced. This principles applies in general and does not depend on whether you change the session date or not.
Hi Santhosh,
Does Ldwig's reply answer your question? If yes, could you mark the thread as answered? if not, please let us know. I will try help more.
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