Adjust Inventory Values
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:
- Warehouse - Select from a warehouse where the inventory is held, or leave blank to search across all warehouses.
- Product ID - Enter a product whose inventory should be adjusted
- 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.
- Default Cost - Select whether you want to use standard or actual costs as the default new unit costs. This will default to standard costs if your organization has been set up to use Standard Costing.
After you click on [Find], you will be shown a list of inventory items, with 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 Cost - Value for the new unit cost.
To adjust inventory values, change the new 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 entries.
If you experience an error after clicking the [Adjust Values] button, it may be because the inventory items are missing historical values. Click on the Item ID links to verify that this is the case, and if so, inform your system administrator. A script ships with Opentaps to fill in missing historical values for inventory items.
