Change the Unit Cost on an Item with ledger entries

cveale

This issue is with a NAV 5.0 SP1 database
Hello, I have a client that has an item with average costing. When the item card was set up they put in a unit cost of $6. Now about a month later, they realized that the actual unit cost of the item is $5.044

I want to Change the unit cost field but I can't because it has item ledgers entries posted. This is what I have done.

Ran the 'adjust item cost' batch job.

Went into a Revaluation journal and selected the item, I put in the new unit cost (revalued), and posted it, so that my inventory is revalued at the new price.

But I still want to change the unit cost on the item card to $5.044, can this be done ?

ara3n

The "Unit cost" on item card for average cost Item is The average cost.

The Average cost is calculated based on your transactions. You cannot change the field directly, but you can change the transaction as you were doing using revaluation journal..

Alex_Chow

Did you run the adjust cost process again after you posted the revaluation journal?

cveale

No I didn't Alex, but now that I have, the cost has updated !! Thanks. Here is a little background on my customer.

This is the situation. The client of mine produces liquor. So they don't actually purchase inventory at all, they make their liquor, and after about a month or so, they decid what the true cost is. But they sell a bunch of liquor before a true item cost is decided.

For instance, they will sell it for $25 and plug the unit cost with $6. After about 2 months of making sales, they find out the true cost should be $5.07 instead of $6. But you can't just change the unit cost because transactions have been posted.

So I am assuming the reval journal is the way to go to revalue the inventory at $5.07 correct ?

And then run the 'adjust item cost' batch procedure.

Now the item card says 5.07.

To this seems like the correct procedure right ?

luaml

hi, just wonder if item revaluation journal is the correct way of adding factory overhead, labor expenses to the finished good which is being converted from kit bom journal?

AdamRoue

Sounds like a brilliant way of deciding what profit your business makes. Depneds how they "find out" what the true cost was, but not sure I would do this through revaluation due to the lack of traceability, but it all depends upon how you process and how you track it.