Group of items with similar characteristics. Each item belongs
to a particular item group. The item group is used in combination with the item
type to set up item defaults.
Actualize Standard Cost and Valuation Prices (ticpr2220m000)Use this session to actualize the cost prices and valuation prices for standard items after you run the Calculate Cost and Valuation Prices (ticpr2210m000) session. You cannot actualize the cost/valuation price for customized or standard to order items.
Item Group Group of items with similar characteristics. Each item belongs
to a particular item group. The item group is used in combination with the item
type to set up item defaults. Item In LN,
the raw materials, subassemblies, finished products, and tools that can be
purchased, stored, manufactured, sold, and so on. An item can also represent a set of items handled as one kit, or exist in multiple product variants. You can also define nonphysical items, which are not held in inventory but can be used to post costs or to invoice services to customers. The following are examples of nonphysical items:
Only Items without A Standard Cost Price If this check box is selected, cost prices and
valuation prices are actualized for those items for which a standard cost price
is not already actualized. Delete Cost Price History Data If this check box is selected, cost price history data
is removed when the cost price data is actualized. Which cost price history
data is removed depends on the value of the Number of Years to Retain Standard Cost Price History field in the Cost Price Calculation Parameters (ticpr0100m000) session. For more information, refer to Archive/Delete Cost Price History (ticpr2230m000). Performance aspects The setting of this field could affect system performance and database growth. For more information, refer to Remove item standard costing data. Effective Date You can specify the effective date of the valuation price
and/or costprice, which can be the current date or a date in the
past: Specific Date If you click Specific Date, you can enter a date in the past in this field. Reverse to Original Inventory Value at Start of Current Period Using lower cost or market value (LCMV) to value inventory can
result in an inventory value that differs from the inventory value that is
calculated based on the original purchase prices. If the effective date is the
last day of the previous financial period (the Last Date of Previous Period option is selected), you can use this check box to
determine whether the inventory value is based on LCMV or the original purchase
prices at the start of the current financial period: If this check box is selected, LN uses the original inventory value when starting the current financial period. If this check box is cleared, LN uses the inventory value based on LCMV when starting the current financial period. Note
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