Incorrect cost in closed period.

Mike_Heffner

Hello,

My client is running NAV 4.0 SP3. They have a purchase invoice which has an incorrect cost on it and it is messing up their average cost. My understanding is that the normal way to correct this is to issue a credit memo with the same date as the original invoice to reverse the incorrect cost then issue a new invoice also on that same date with the correct cost.

However, the purchase invoice in question is in a period that has already been closed. The client is concerned that if they do this it will change their financial statements, and they don't want that to happen.

Can someone suggest a procedure whereby we can make this correction without changing the financial statements in the closed period?

Thanks,
Mike

AdamRoue

Use the revaluation journal, that will post of teh day of the journal if the period is closed I believe.

dmitrip

Hi,

You need to post a credit memo for the purchae invoice in the current period and then post the right invoice.

Make sure to apply the credit memo to the right Item ledger entry.

There's no way you can correct the cost without affecting G/L.

Revaluation journal won't help unless the Total invoice amount is still the same.

Hope it helps.