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 Revalue Inventory (ticpr2220m000)Use this session to actualize the standard costs and valuation prices for standard items after you run the Calculate Standard Cost (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 The raw materials, subassemblies, finished products, and tools that can be purchased, stored, manufactured, and sold. An item can also represent a set of items handled as one kit, or which exist in multiple product variants. You can also define nonphysical items, which are not retained in inventory but can be used to post costs or to invoice services to customers. The examples of nonphysical items:
Only Items without Standard Cost If this check box is selected, standard costs and valuation prices are actualized for those items for which a standard cost is not already actualized. Delete Standard Cost History Data If this check box is selected, standard cost history data is removed when the standard cost data is actualized. Which standard cost history data is removed depends on the value of the Number of Years to Retain Standard Cost History field in the Standard Cost Calculation Parameters (ticpr0100m000) session. For more information, refer to Archive Cost 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. Print Hours Values If this check box is selected, the production hours values are included in the report. Effective Date You can specify the effective date of the valuation price and/or standard cost, 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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