Solved

FIFO to Standard

  • 30 September 2022
  • 5 replies
  • 96 views
J
Rank
Userlevel 3
Badge

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

icon

Best answer by manikantad18 30 September 2022, 15:57

View original

5 replies

manikantad18
Rank
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

Acumatica Functional Consultant
J
Rank
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. 

Kandy Beatty
Rank
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

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*.
manikantad18
Rank
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

Acumatica Functional Consultant
J
Rank
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!

Reply


Terms & ConditionsCookie settings
About Acumatica ERP system
Acumatica Cloud ERP provides the best business management solution for transforming your company to thrive in the new digital economy. Built on a future-proof platform with open architecture for rapid integrations, scalability, and ease of use, Acumatica delivers unparalleled value to small and midmarket organizations. Connected Business. Delivered.
© 2008 — 2024  Acumatica, Inc. All rights reserved