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Hi, I have a situation. Can anyone help?
Scenario:
Forgot to tick the box for revalue inventory.
Two step purchase receipts are being entered.
Request:
Enable revalue inventory and get the difference in the inventory value to be updated to the subledger and the GL.
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Hi Leslie,
I have tested and have a partial solution.
I will have to adjust the stock out and back in so the sub ledger will read the invoice cost as it would now be showing the receipt cost instead.
I would also need to pass a journal to move the value from purchase price variance to the inventory account.
Not sure how to fix the cost of sales.
Hi Leslie,
Thanks, the query is really regarding all of the inventory not having revalue marked. I need to fix this and by extension get my GL and Subledger to balance.
Do you have any suggestions?
If you want to revalue inventory in specific receipts you can use the Adjust Inventory Value utility. Select the specific receipt and identify what the cost 'should' be. This will change the carrying value of your inventory and adjust any previous transactions relating to that receipt. I've got a blog article about this utility: dynamicsconfessions.blogspot.com/.../blog-post.html
Kind regards,
Leslie
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