Adjust Cost Item entries with standard costing

violasrbest
violasrbest Member Posts: 6
edited 2010-06-01 in NAV/Navision Classic Client
Hi

Can someone explain what this does? I've seen some answers using the Search function, but can't see how that relates to Standard costing. I processed an tem adjustment journal and the standard cost was posted to the GL. However I then ran Adjust Cost Item Entries and an additional cost was posted to the GL, and I can't understand why.

We're using NAV 4.03.

Many thanks

Comments

  • Deep
    Deep Member Posts: 569
    FOr this, you need to understand the concept of standard cost and variance. Speak to your cost accountant for an information on Standard costing, and then check in the system.
    I hope you will get it right then.
    Regards,

    Deep
    India
  • violasrbest
    violasrbest Member Posts: 6
    Hi

    Thanks for the reply, but I am the accountant. For standard costing the only transaction should be the standard cost of the item. Neither myself nor the Finance Director can understand why there should be any other posting. I'm trying to understand what the Adjust Cost Item Entries routine is actually adjusting.

    Thanks
  • Deep
    Deep Member Posts: 569
    Navigate over the transaction and check what the value entry type is. The additional cost posted must be variance from the standard cost. If it is not, pl share a screenshot of value entries of the transaction.
    Regards,

    Deep
    India
  • violasrbest
    violasrbest Member Posts: 6
    Hi

    Screen shot attached. I have worked out that the additional entry of £195.80 is the difference between standard cost and average cost. It would seem than that this is an error in either our setup or in the way that Navision deals with standard costing, because this additional entry is certainly incorrect.

    Many thanks for your help.

    Richard

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