new item costs after after initial purchase invoice posting

whighsmith

Hi Guys, I tried searching the forums on this question first, but these keywords just don't narrow down the results enough...

Anyway, we received some items from a vendor, posted the purchase receipt and purchase invoice and began selling the items. Three months later we realize the invoice for those items was much too low when we received a 2nd invoice for these items from our vendor.

I want to go back to the original purchase transaction and add these new purchase costs so the item's subsequent sales costs will calculate correctly. Anyone know the best method to do this?

Thanks for all the help!

Will Highsmith
Operations Manager

Corporate Headquarters
Peleman Industries Inc.
11820 Wills Rd. Suite 100 Alpharetta, GA 30004
Phone 800.864.2463 ext 614 Fax 770.752.9486
Direct 770.674.6622
whighsmith@unibind.com
www.unibind.com

AdamRoue

Hi

I would suggest you process through some item charge transactions to adjust this. Depending upon how you could load a purchase invoice to the vendor and assign the charges to the original document to uploft any residual inventory value and the posted COGS.

Alex_Chow

AdamRoue wrote:

Hi

I would suggest you process through some item charge transactions to adjust this. Depending upon how you could load a purchase invoice to the vendor and assign the charges to the original document to uploft any residual inventory value and the posted COGS.

And make sure you run the Adjust Cost process afterwards.