<Solved> How do I reset our Costing Method from FIFO to Average Cost?

ghamiltonghamilton Posts: 6Member
edited 2019-10-08 in NAV Three Tier
When setting up our retail items, the Costing method is defaulting to FIFO rather than the original setup of Average. Where do I change that default?

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Answers

  • golfergolfer Posts: 72Member
    edited 2019-09-25
    If you are on newer versions you can set the default in Inventory Setup. Older versions through Item Categories.
  • ghamiltonghamilton Posts: 6Member
    We are using NAV Dynamics 2017. When I look at Inventory Setup I can't where we would change it.
  • SanderDkSanderDk Posts: 314Member
    Hi Ghamilton,
    Do you want to change the Costing method of current item or just on new item?
    If on new items, how to you create Item (Ex. with a template)

    If you want to change Costing Method on current item, you can change the Costing Method on the item card (With a tiny report), but fair warning you do not "just" change cost method.
    If you change the costing method without consulting with a finance specialist you can end destroying your your data.

    Some country also have rules about how your are allow to change costing method, ex. some places you will need the company's board's approval before hand
    For help, do not use PM, but use forum instead, perhaps other people have the same question, or better answers.
  • KowaKowa Posts: 887Member
    edited 2019-09-26
    ghamilton wrote: »
    We are using NAV Dynamics 2017. When I look at Inventory Setup I can't where we would change it.
    The field for the default value was introduced there in NAV 2018.
    Kai Kowalewski
  • ghamiltonghamilton Posts: 6Member
    First of all, thanks very much to everyone who offered help on this issue! It truly is appreciated.

    Perhaps there is a difference between our LS Retail version of NAV 2017 from what you are referencing.

    What I feel I should find is a default New Item template that is used to create default values on new item setup.

    We don't use category templates, nor is there is a reference on the store card. Somewhere, Average has changed to FIFO as a default. We must always correct the costing method when setting up new items, but sometimes users forget and miss the correction.
  • KTA8KTA8 Posts: 286Member
    Look the item category configuration.
  • mucamuca Posts: 35Member
    P.S. LS Retail also do not manage it.
  • ghamiltonghamilton Posts: 6Member
    Thank you Muca for the definitive answer! It looks like we will need to proceed with the use of category templates to resolve the issue.

    Again, thanks to everyone for your assistance with this sticky issue..
  • ghamiltonghamilton Posts: 6Member
    As a follow-up - I updated the init_value of the Costing-Method(Item) as Muca suggested and the problem was resolved instantly. Thanks again!
  • krikikriki Posts: 8,796Member, Moderator
    [Topic moved from 'NAV/Navision Classic Client' forum to 'NAV Three Tier' forum]

    Regards,Alain Krikilion
    Use the SEARCH,Luke! || No PM,please use the forum. || May the <SOLVED>-attribute be in your title!
    NAV TechDays 2019: 21 & 22 November 2019, Antwerp (Belgium)
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