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Adjust Item Cost/Price VS Adjust Cost - Item Entries
jsu85
Member Posts: 10
May I ask what is the difference between the Adjust Item Cost/Price and Adjust Cost - Item Entries? They dont have the same screen but arent they the same?
Sorry for the trouble, was trying to learn navision but I just doesnt seem to understand the booklet
Jsu85
Sorry for the trouble, was trying to learn navision but I just doesnt seem to understand the booklet
Jsu85
0
Comments
Adjust cost prices allows the uplifting of the items cost value with regards to last direct, or standard, as well as the actual unit price of the item. This changes it on the card and does not affect inventory or COGS.
They are very different.
You run the first regularly, the second when you want to mass update static costs or prices.
(i) Imagine you are standard costed, and at the year end you want to uplift your costs by 5%, you do this with the adjust item cost/price (this is adjusting the cost). This changes the cost on the item card.
(ii) Additionally you want to uplift your prices to keep your margin in line, you do this with the adjust item cost/price (this is adjusting the price). This changes the price on the item card.
(i) and (ii) adjust only the item card record. No ledger entries are made. Your open orders do not alter. This is static data.
(iii) Imagine you are FIFO costed. You purchase 3 items at $25. You sell one of them. The purchase invoice comes in and the cost is $30. Currently your COGS will show $25 and the margin is shown from this cost. Your inventory value is $50 as you have 2 in stock. However both of these are incorrect now the price is known. If you run the adjust cost item routine the COGS are uplifted by $5 to $30 and the inventory is uplifted by $10 to reflect the value of $60 you have in stock.
I suggest you run through some scenarios, read the manuals and read the help as the adjust cost item entries routine is fundamental to understanding the system.