Monday, December 14, 2015

Dynamics NAV - How to fix an existing item cost that is currently incorrect - Wrong Costs - Cost Revaluation

  • Method 1 - The Proper Way - Only works if cost is coming from invoicing
    • Do return transactions to cancel the original invoices
    • Re-receive at the correct cost at the original date
  • Method 2 - Using a Revaluation Journal
    • Run Adjust Costs against the item you wish to revalue to ensure no outstanding adjust cost jobs exist
    • Ensure that the posting periods are open
    • Open Revaluation Journal Entry window
      • Click Calculate Inventory Value
      • Enter the date the costing error happened
      • Enter filter for item no.
        • If using average costing, calculate per item (not item ledger entry), location, variant
      • Enter any filters as required
      • Leave all other fields blank, click ok
      • System will populate the revaluation journal with all value entries
      • Change the Unit Cost (Revalued) column to the value you want
      • Post the revaluation entry
      • Run the adjust cost
      • This will also resolve any sales at historical incorrect costs.
  • Method 3 - Reset Stock (This is your only option if using average costing)
    • Adjust all stock out as at yesterday, or some previous date period that will allow you to adjust in new stock using a different date
      • We do not want to do the adjust out and adjust in on the same date or it will cause the average cost to average incorrectly
      • Example 
        • Change posting dates to 30-Jan-20
          • Whse. Phys. Inv. journal>Set to 0>Register (Ignore this step if not using warehousing)
          • Physical Inventory Journal>Set to 0, post
        • Change posting dates to 31-Jan-20
          • Whse. Phys. Inv. journal>Set to Stock amount>Register (Ignore this step if not using warehousing)
          • Physical Inventory Journal>Set to stock amount>Set new Cost>, post
        • This way it correctly calculates a new average cost on 31-Jan-20

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