Product Maintain Cost Entry overview

Product > Entry > Maintain Cost

Function acronym: ICEMC

Use this page to correct costs when a costing error was made, such as during costing in Vendor Invoice Center Entry.

A journal opens if the Post to GL By option in SA Administrator Options-Products is Average or Last. If Average or Last is not selected, you cannot correct General Ledger inventory amounts in Product Maintain Costs Entry. You can use the function to determine the amount of the required manual adjustment.

Use Product Maintain Costs Entry to adjust average cost. Use PD Change Price and Costs Entry to adjust all other cost changes.

Note:  Only use this function after you perform costing in Vendor Invoice Center Entry. If you use this function between the time Purchase Receipt of Inventory Entry is updated and Vendor Invoice Center Entry is used is used to correct a cost entry error in Purchase Receipt of Inventory Entry, the average cost in Product Warehouse Product Setup will be incorrect. The General Ledger will also be out of balance. If the Post to GL By option in SA Administrator Options-Products is anything other than Average or Last, you must make manual adjustments to the General Ledger.

If you use this function to correct PO receiving errors, this message is displayed:

WARNING: Do Not Use To Correct PO Receiving Error, GL Will Be Incorrect (8747)