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Answer

FIFO to Standard

  • September 30, 2022
  • 5 replies
  • 142 views
J
Freshman II
Forum|alt.badge.img

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

Kandy Beatty
AndreasKleinfeld72

5 replies

Manikanta Dhulipudi
Captain II
Forum|alt.badge.img+15

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 & Customer Experience Supervisor
Kandy Beatty
Chris Hackett
J
Freshman II
Forum|alt.badge.img
  • jcox43
  • Author
  • Freshman II
  • September 30, 2022

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
Kandy Beatty
Captain II
Forum|alt.badge.img+17
  • Kandy Beatty
  • Captain II
  • September 30, 2022

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*.
J
Manikanta Dhulipudi
Captain II
Forum|alt.badge.img+15

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 & Customer Experience Supervisor
Kandy Beatty
J
J
Freshman II
Forum|alt.badge.img
  • jcox43
  • Author
  • Freshman II
  • September 30, 2022

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!

Kandy Beatty
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