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Hello all,
I am using AX 2012 R3 CU13. We use the Standard Cost Costing type and are looking to update the price of an item (Manage costs > Item Price). When we do this, it appears that it updates the price for all of the inventory in the building. What I need it to do is simply update the cost of the item for anything that is received AFTER this price change. That way we can see how much we have of the item at x price and how much we have of the same item at y price. Could someone please explain to me how to make this happen? There is an activation date on the item price but when I set that to the current date it still updates all the inventory that is already received in.
Any help would be greatly appreciated!
Thank you,
Jeff
Hello Jeff,
Updating the standard cost price will result in a revaluation of your inventory. You cannot 'switch off' this revaluation so that say because this is how this valuation method was built by MS.
If you have no stock of that item then you can update the price as you want for the future. Yet, as soon as there is something available or even just recorded then you will see this revaluation process happening.
Best regards,
Ludwig
Ludwig,
Thanks for the quick answer. It amazes me that this functionality doesn't exist, especially from an accounting aspect!
Thanks,
This functionality actually exists but not for items that make use of the standard costing valuation method. If you would use Fifo, Lifo, Weighted average and other so-called current evaluation methods then things would work as you described and expect.
Okay that makes more sense. I am only looking to do this for a select few items in our system, would you happen to know the process for converting these to FIFO? I did some researching and found how to create a new FIFO model group but when I try to switch an item to that it throws this error:
"The item is set to be evaluated by inventory model 'Standard cost'. The system cannot convert the item to be evaluated by an inventory model of type 'Transactions settled' only inventory models of type 'Transactions not settled' can be selected."
I tried researching that and finding the steps I need to take in order to change these items to FIFO but I'm failing to come up with much on it.
If you have any information on that I'd greatly appreciate it!
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