Difference between revisions of "Adjust Inventory Values"

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This screen allows you to adjust the value of inventory items owned by the current organization.  The top half of the screen can be used to look up the inventory items whose values need to be adjusted.  The fields are:
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This screen allows you to adjust the value of inventory items owned by the current organization.   
  
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* '''Warehouse''' - Select from a warehouse where the inventory is held, or leave blank to search across all warehouses.
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To access this screen from the Main Navigation screen proceed as follows:
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* '''Product ID''' - Enter a product whose inventory should be adjusted
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* Click: Financials Icon > Ledger Tab > [Adjust Inventory Values] button
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* '''Received Before''' - Enter the date time the inventory item was received before, so you can adjust all inventory items which are older than a certain date.
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* The screen opens to display two sections.
  
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After you click on [Find], you will be shown a list of inventory items, with the following fields:
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==Find Inventory Items to Adjust==
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The top half of the screen can be used to look up the inventory items that need value adjustments.  The search fields are:
  
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* '''Warehouse''' - Warehouse where this item is held
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* '''Warehouse''' -- Select from a warehouse where the inventory is held, or leave blank to search across all warehouses.
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* '''Product''' - Internal name and ID of the product
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* '''Product''' -- Enter or Lookup a Product ID that needs inventory value adjustment.
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* '''Item ID''' - Unique ID identifying this particular inventory item.  Click on this link to view a history of the inventory value for the   item.   
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* '''Default Cost''' -- Select whether you want to use Standard Cost or Actual Costs when you enter the New Unit Cost values.  This will default to standard costs if your organization has been set up to use [[Standard Costing]].
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* '''Received Date between ... and''' -- Enter the date range in which the inventory items to be adjusted were received.
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*  Click:[Find] -- to see a table of inventory items that match your search criteria.
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==Adjust Inventory Item Values==
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The table presents the following fields:
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* '''Warehouse''' -- Warehouse where this item is held
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* '''Product''' -- Internal name and ID of the product
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* '''Item ID''' -- Unique ID identifying this particular inventory item.  Click on this link to view a history of the inventory value for the item.   
 
* '''Received''' - Date and time when this item was received
 
* '''Received''' - Date and time when this item was received
 
* '''QOH''' - Quantity of this item on hand.
 
* '''QOH''' - Quantity of this item on hand.
 
* '''Unit Cost''' - Current unit cost of this item.   
 
* '''Unit Cost''' - Current unit cost of this item.   
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* '''New Unit Cost''' -- a Field for entering the New Unit Cost adjustment that is needed. A Check Box is for indicating that all items are to be adjusted at once.
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* '''Check Box''' -- for selecting the individual line items that will actually be adjusted when you click [Adjust Values] at the bottom of the table.
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To adjust inventory values:
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*  Change the New Unit Cost from the old value to the desired value.
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*  Click: the Check Box next to it. 
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*  Click [Adjust Values] button at the bottom of the table. 
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The system will update the unit costs of all checked inventory items, record it in the inventory value history, and post [[Ledger_Transactions_Reference#Adjust_Inventory_Values|ledger entries]].
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To adjust inventory values, change the unit cost and click on the checkbox next to it.  Then, click on the [Adjust Values] button on the bottom.  The system will update the unit costs of all checked inventory items, record it in the inventory value history, and post [[Ledger_Transactions_Reference#Adjust_Inventory_Values|ledger entries]].
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==Note: About Missing Historical Inventory Values==
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If you experience an error after clicking the [Adjust Values] button, it may be because the inventory items are missing historical values. This might happen if you imported inventory data from another source.  Click on the Item ID links to verify that this is the case, and if so, inform your system administrator. A script is available in '''opentaps''' to fill in missing historical values for inventory items. Using this script requires Technical System Administrator skills.

Latest revision as of 15:24, 18 November 2009

This screen allows you to adjust the value of inventory items owned by the current organization.

To access this screen from the Main Navigation screen proceed as follows: 

*  Click: Financials Icon > Ledger Tab > [Adjust Inventory Values] button
*  The screen opens to display two sections.

Find Inventory Items to Adjust

The top half of the screen can be used to look up the inventory items that need value adjustments. The search fields are:

  • Warehouse -- Select from a warehouse where the inventory is held, or leave blank to search across all warehouses.
  • Product -- Enter or Lookup a Product ID that needs inventory value adjustment.
  • Default Cost -- Select whether you want to use Standard Cost or Actual Costs when you enter the New Unit Cost values. This will default to standard costs if your organization has been set up to use Standard Costing.
  • Received Date between ... and -- Enter the date range in which the inventory items to be adjusted were received.
*  Click:[Find] -- to see a table of inventory items that match your search criteria.

Adjust Inventory Item Values

The table presents the following fields:

  • Warehouse -- Warehouse where this item is held
  • Product -- Internal name and ID of the product
  • Item ID -- Unique ID identifying this particular inventory item. Click on this link to view a history of the inventory value for the item.
  • Received - Date and time when this item was received
  • QOH - Quantity of this item on hand.
  • Unit Cost - Current unit cost of this item.
  • New Unit Cost -- a Field for entering the New Unit Cost adjustment that is needed. A Check Box is for indicating that all items are to be adjusted at once.
  • Check Box -- for selecting the individual line items that will actually be adjusted when you click [Adjust Values] at the bottom of the table.

To adjust inventory values: 

*  Change the New Unit Cost from the old value to the desired value.
*  Click: the Check Box next to it.  
*  Click [Adjust Values] button at the bottom of the table.

The system will update the unit costs of all checked inventory items, record it in the inventory value history, and post ledger entries.


Note: About Missing Historical Inventory Values

If you experience an error after clicking the [Adjust Values] button, it may be because the inventory items are missing historical values. This might happen if you imported inventory data from another source. Click on the Item ID links to verify that this is the case, and if so, inform your system administrator. A script is available in opentaps to fill in missing historical values for inventory items. Using this script requires Technical System Administrator skills.

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