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Changing costing metod
bostjanl
Member Posts: 107
Heja!
Costumer wants to change costing metod form Average to FIFO. Does anybody have any expiriance with this?
This change is planed at th end of the year.
My plan is:
1. Create Item journal to negative adjust all inventory (and create a copy as positive adjustment). One line per item & location combination. Maybe also per document no. Not sure about that yet. Item cost is average item cost which will be also used when positive adjust items.
2. Post item journal. All item inventory to 0.
3. Run Adjust Cost - Item entries.
4. Post Inventory cost to G/L.
5. Change costing metod for all item to FIFO.
6. Run second item journal with positive adjustment. Item cost is average cost of negative adjust item.
Open questions:
-What to do with items on orders which are shipped/received but not invoced completly?
-What to do with items, on which some item charges must be posted?
BostjanL
Costumer wants to change costing metod form Average to FIFO. Does anybody have any expiriance with this?
This change is planed at th end of the year.
My plan is:
1. Create Item journal to negative adjust all inventory (and create a copy as positive adjustment). One line per item & location combination. Maybe also per document no. Not sure about that yet. Item cost is average item cost which will be also used when positive adjust items.
2. Post item journal. All item inventory to 0.
3. Run Adjust Cost - Item entries.
4. Post Inventory cost to G/L.
5. Change costing metod for all item to FIFO.
6. Run second item journal with positive adjustment. Item cost is average cost of negative adjust item.
Open questions:
-What to do with items on orders which are shipped/received but not invoced completly?
-What to do with items, on which some item charges must be posted?
BostjanL
0
Comments
Did you test this?
If it was hard to write, it should be hard to understand."
Didn't test it. Didn't even code it yet. Plan to do that later this week.
But I would like to get some feedback, if any of you outthere incountered someting like that.
BostjanL
Sorry, but I don't get it, how could PI help solving my problem with shipped/received but not completly invoced orderds. Could yoiu explain more? :?:
Customer had PI last month so number should be OK. If not it will be on next PI on Noveber 2005
BostjanL
You also should ensure that there are no new postings back into a date prior to the conversion date. With the calculation of a daily average cost, I'm not sure what the effect would be! Probably a good idea to set your overall GL posting dates (and user dates if used) to enforce this rule.
Biggest risk is that the periodic runs decide that a transaction prior to the conversion needs adjustment. This could cause a few problems if it happens.
If you use manufacturing, there might be other implications.
May ask your client to block those old item and re-create a new item code with new costing method. Or else they have to reimplement the inventory module.