What are 1. Check open quantities and 2. Check cost prices for? What is open quantities mean here? What does fully settled mean here? Where can I find those manuals?
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As an addendum to Floris' response:
1.) Check open quantities will show the open issues (read, not settled by an inventory close) in the subject period. This will list items where, for some reason, AX doesn't think a close will settle the transaction. An example of what could cause this would be not have enough financially updated receipts to settle the issue against.
Including receipts here will show the receipts in the appropriate dimension set that AX will try to settle the issues against. This report can be used to proactively fix closing issues before the close is run.
2.) This report can also be used to proactively determine receipts that will adversely affect the cost price calculation during the inventory close. The percentage you set determines which transactions show on the report.
3.) The inventory close Floris described is AX's way of finding the actual cost for an item that was sold and updating the inventory transaction record. Up until a close (providing no recalculations are done), issue transactions are stamped with an estimated cost price. This cost price is based on the amount of material in inventory and the cost paid for this material (with some additional inventory model group settings affecting the exact calculation).
When an inventory close is performed, AX tries to find enough real receipts (purchase orders coming in that have been invoiced) to match against the issues (sales orders going out with the estimated cost prices). Based on the costing methodology selected in the inventory model group, AX calculates the actual cost price to be used for each issue.
This amount is written as a settlement record and is added to the inventory transaction so that a real cost price can be shown against each inventory transaction. Finally, AX changes the "Value open" flag to "No" to indicate that the transaction is fully settled.
The above description is an attempt at a very simple explanation of AX's inventory close, but hopefully it helps. Microsoft has released a training package on E-learning for costing in AX 2009 that may help.
Thank you for answering. I still have the following questions:
1. What does fully settled mean here?
2. What a maximum deviation mean here?
3. Does this closing means to close Inventory received and invoiced by Vendors? or sold to customers?
4. Where can I find the manual for all this inventory closing thing?
Pressing F1 gives the following in the help:
1. Check open quantities – Opens the 1. Check open quantities form to print a report. This report lists the items that will not be fully settled after running the inventory closing on the specified date. 2. Check cost prices – Opens the 2. Check cost prices form to print a report displaying all items that exceed a maximum deviation percentage that you specify before running the report. The deviation is based on the item cost price, item or median cost price, or median. 3. Close – Opens the 3. Closeform to close the inventory according to the FIFO, LIFO, or Average cost inventory models.
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