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FIFO to Standard

  • Sep 30, 2022 1:42 PM UTC
  • 5 replies
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Freshman II
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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

Best answer by Manikanta Dhulipudi

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

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    5 replies

    Manikanta Dhulipudi
    Captain II
    Forum|alt.badge.img+16

    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

    Translate
    Acumatica Functional Consultant & Customer Experience Supervisor
      Freshman II
      Forum|alt.badge.img
      • jcox43
      • Author
      • Freshman II
      • Sep 30, 2022 1:56 PM UTC

      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. 

      Translate
        Kandy Beatty
        Captain II
        Forum|alt.badge.img+18

        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

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        Kandy ~ If a member helped you, please *Like* their post, and if a member provided an answer to your question, please mark it as *Best Answer*.
          Manikanta Dhulipudi
          Captain II
          Forum|alt.badge.img+16

          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

          Translate
          Acumatica Functional Consultant & Customer Experience Supervisor
            Freshman II
            Forum|alt.badge.img
            • jcox43
            • Author
            • Freshman II
            • Sep 30, 2022 1:58 PM UTC

            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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