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FIFO to Standard

  • 30 September 2022
  • 5 replies
  • 98 views

Userlevel 3
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What is the best way to take inventory to 0 when trying to change your costing method on many items? Trying to do it via adjustments is a little difficult since you have to match qty left on hand by receipts.

 

My thought is I would be able to do this via Inventory > Issues 

 

Thanks for any help

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Best answer by Manikanta Dhulipudi 30 September 2022, 15:57

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5 replies

Userlevel 7
Badge +12

Hi @jcox43 

To change valuation method, the item must have 0 cost and quantity on hand.

  • Adjust cost and quantity to zero for the item.
  • Update the valuation method of the item
  •  Receive back in the quantity that was on hand for the item, with proper cost layers.

Thanks

Userlevel 3
Badge

Hi @jcox43 

To change valuation method, the item must have 0 cost and quantity on hand.

  • Adjust cost and quantity to zero for the item.
  • Update the valuation method of the item
  •  Receive back in the quantity that was on hand for the item, with proper cost layers.

Thanks

Yes that is the correct method, my question is relating to getting all the inventory quantity down to zero. 

Userlevel 7
Badge +16

HI @jcox43 

Along with what @manikantad18  has stated, here is the help to update standard costs:

 

https://help-2022r2.acumatica.com/Help?ScreenId=ShowWiki&pageid=f0418f65-eded-47f7-a754-077bfbdc97bf

Userlevel 7
Badge +12

Hi @jcox43 

To change valuation method, the item must have 0 cost and quantity on hand.

  • Adjust cost and quantity to zero for the item.
  • Update the valuation method of the item
  •  Receive back in the quantity that was on hand for the item, with proper cost layers.

Thanks

Yes that is the correct method, my question is relating to getting all the inventory quantity down to zero. 

Yes Issue is the best process to Make the qty Zero

Userlevel 3
Badge

Hi @jcox43 

To change valuation method, the item must have 0 cost and quantity on hand.

  • Adjust cost and quantity to zero for the item.
  • Update the valuation method of the item
  •  Receive back in the quantity that was on hand for the item, with proper cost layers.

Thanks

Yes that is the correct method, my question is relating to getting all the inventory quantity down to zero. 

Yes Issue is the best process to Make the qty Zero

Perfect, thanks!

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