Does any one know how to reverse a Landed Cost? We had an entry with a clerical error and the amount was incorrect. Now inventory is overvalued and we have the amount sitting in the accrual account. The AP bill should address the accrual balance but will create a credit on the P&L variance account. Not sure how you address the inventory valuation. So looking for ways to edit, delete or otherwise correct the LC transaction.
Reversing Landed Cost Transaction
Looks like you will need to do a debit adjustment for off-set AP. Find the original inventory adjustment and reverse that manually.
As per discussion here -
Hi
You can create a Landed cost document with negative value and then create an AP bill ( it automatically creates debit adjustment in this case ).
Hope this helps,
Regards,
Hi
You can create a Landed cost document with negative value and then create an AP bill ( it automatically creates debit adjustment in this case ).
Hope this helps,
Regards,
HI
I did what you said for reverse Landed cost, but when I create debit AP bill, it has errors like this. Do you have any ideas on this.
Thanks
Hi, where is the setting that can allow you to key in the -negative Landed Cost Allocated Amt pls?
It is greyed out and read only.
Pls advise?
Thanks
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