Wrong costing on sales invoice

Beatrice

Hi,

User enters a foreign PO (USD) on 09/11 with a rate of $1=Rs30, which is a wrong rate.

On same date(09/11), warehouse receipt is posted.

On 16/11, a sales order, its warehouse shipment and the corresponding sales invoice is posted for an item which is on the above mentioned PO.

As a matter of fact, the value of cost of sales is wrong because the goods were received at wrong cost.

Then, the purchase invoice for the same PO is created and posted with correct exchange rate of $1=Rs33 on 09/11.

When we check accounting entries of the sales invoice, they are still unchanged, but value entries for items now show correct actual cost.

Can someone please help me on this issue? How do we correct costing for this item?

Thanks in Advance.

Regards,
Beatrice.

ssingla

Run the adjust cost batch job and if automatic costing is not marked to true then post cost to G/L.

I hope the accounting problem will be solved.

Kowa

You can always compare the fields "Cost Amount (Actual)" to "Cost Posted to G/L" in the Value Entries to see if your accounts are up to date.

Beatrice

Hi,

I did run the Adjust Cost-Item Entries batch job and it has updated the value entries for the item.

It has updated the cost for the item.

Can you please just confirm only one thing?

This update is done only on the Value Entries for the Item, when we go on the Item Card.

Will I see the update in the value entries when I navigate to the posted sales invoice as well?

Thanks and Regards,
Beatrice.

Savatage

The adjust cost report does not update the sales invoice

ssingla

Savatage Wrote

The adjust cost report does not update the sales invoice

Will I see the update in the value entries when I navigate to the posted sales invoice as well?

As Savatage wrote the sales statistics will not change/update but if you navigate the value entries from the sales invoice the updated value entries will be available.

Beatrice

Hi,

Thanks for your replies.

The purchase invoice was posted on 09/11/06 and subsequent to this several sales invoices were posted for the item which was wrongly costed. The sales invoices posting date ranges from 091106 to 151106.

When I run the Adjust Cost Item Entries batch job, what date should I enter as Closed Period Entry Posting Date?

Will the system make the adjustment for each sales invoice posted?

Thanks in Advance.

Kind Regards,
Beatrice.

ssingla

"Closed Period Entry Posting Date" is used when system is adjusting entries which pertains to previous accounting years which has been closed. By default system post the adjustment entry on the same date on which the transaction has occured. But in case the accounting period is closed, then due to financial books being closed, the system post them in the current year and ask for the date on which you should post. Normally what I use is the current date or the last month's end date.

Beatrice

Hi!

After running the Adjust Cost Item Entries batch job, when I check the ledger entries on my Cost of Sales account, it is updated. Same for the value entries from the Item Card, which is updated.

The value entries on the sales invoices are not updated when I run the Adjust Cost Item Entries batch job.

Please advice.

Thanks and Regards,
Beatrice.

ssingla

Are you Talking Sales Statistics or the Value Entries from the Navigate option. If Sales Statistics, then, They are not updated by the Batch Job.

Beatrice

I navigate to the Posted Sales Invoice, then click on Navigate. Choose Value Entries, then click on Show.

In the Value Entries window, the Cost Amount (Actual) and Cost Posted to GL have not been updated.

Regards,
Beatrice.

ssingla

Identify the Item ledger entry of the Sale shipment for this invoice. In the Table 339 "Item Application Entry" Filter for this entry number in the field "Item Ledger Entry Number". Note the ILE Entry Number in the field "Inbound Entry Number". Now Filter the same in the ILE and check the Cost Amount (Actual). This should be same as in the sales transaction.
I hope the costing method is not Standard.

ecclectic

ssingla wrote:

"Closed Period Entry Posting Date" is used when system is adjusting entries which pertains to previous accounting years which has been closed. By default system post the adjustment entry on the same date on which the transaction has occured. But in case the accounting period is closed, then due to financial books being closed, the system post them in the current year and ask for the date on which you should post. Normally what I use is the current date or the last month's end date.

small differecen dixit Navision Help
"
Closed Period Entry Posting Date Field
The Adjust Cost - Item Entries Batch Job


In this field, you must enter the date that should appear as the posting date on adjustment entries whose original entries have posting dates in closed accounting periods. A date is considered to be in a closed accounting period when it is earlier than the date in the Allow Posting From field in the general ledger setup."

closed period does not necessarily refer to previous accounting years

Beatrice

Hi!

I have checked the allowable posting dates on General Ledger setup. It ranges from 06/11/06 to 30/06/07.

The allowable posting date on the User Setup is from 01/01/07 to 31/01/07.

Do you think that this might affect the Adjust Cost Item Entries batch job?

The sales invoices which have wrong cost of sales were posted between 09/11/06 and 15/11/06.

When I run my Adjust Cost Item Entries batch job, which date should I enter?

Thanks and Regards,
Beatrice.

ecclectic

Beatrice wrote:

Hi!

I have checked the allowable posting dates on General Ledger setup. It ranges from 06/11/06 to 30/06/07.

The allowable posting date on the User Setup is from 01/01/07 to 31/01/07.

Do you think that this might affect the Adjust Cost Item Entries batch job?

The sales invoices which have wrong cost of sales were posted between 09/11/06 and 15/11/06.

When I run my Adjust Cost Item Entries batch job, which date should I enter?

Thanks and Regards,
Beatrice.

it does not make any difference for the particular transactions mentionned what date u enter (u might enter today's date) as the open period is from 06/11/06 to 30/06/07 and the transactions were done between 09/11/06 and 15/11/06. When the adjust cost batch will run, the adjustments will be made at the original date of the transactions i.e. 09/11/06 and 15/11/06.

however any adjustment that the system has to make for an original transaction outside the date range 06/11/06 to 30/06/07 will have as posting date, the date u entered in your adjust cost batch.

ur user will probably not be able to run the adjust cost batch as his posting date range is outside the date range that the batch has to use


even after the adjust cost has been run, u might notice that the cogs of your sales invoices will only be average cost of both ur purchase orders, i am hereby assuming u r using average. u still out of the woods... check the other posts

ssingla

closed period does not necessarily refer to previous accounting years

:oops:

e2rd

Savatage wrote:

The adjust cost report does not update the sales invoice

How if i want to get the cost from sales invoice table, or i have to adjust cost every day ???


Thanks

Edo

ecclectic

e2rd wrote:

Savatage wrote:

The adjust cost report does not update the sales invoice

How if i want to get the cost from sales invoice table, or i have to adjust cost every day ???


Thanks

Edo

run a batch that will take the actual cost from value entry table and updtae the sales invoice line

Kowa

Updating the sales invoice line is only a relatively straightforward batch job, if there are no partial shipments and partial invoices . If these are used, you need a extra table to save the references for all the documents and the quantities shipped and the quantities invoiced. This table must be evaluated when calculating the unit cost for the sales invoice.