Actualize Standard Cost and Revalue Inventory (ticpr2220m000)

Field Information

Item Group

item group

From Item

item

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/Delete 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:

Current Date

The date for which the valuation is calculated and/or actualized is the current date.

Last Date of Previous Period

The date for which the valuation is calculated and actualized is the last date of the previous financial period of the financial company linked to the warehouse for which the valuation is performed.

The warehouse for which the valuation is performed and the linked financial company can be located in different time zones. Select this option to ensure that the inventory transactions included in the valuation fall within the previous financial period of the financial company.

For example, an inventory transaction created at 8/31/2014 11:45 PM falls in financial period August if the warehouse where the transaction is performed and the financial company are located in the same time zone. If the financial company is located in a time zone where the time is one hour ahead, the inventory transaction is posted in financial period September.

Specific Date

The date for which the valuation is calculated and actualized is a date in the past, which you can enter in the Specific Date field.

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: 

• You must calculate an inventory value based on LCMV in the Calculate Standard Cost (ticpr2210m000). The Inventory Value Based on Lower of Cost or Market Value check box must be selected.
• You can only select or clear this check box if the Last Date of Previous Period option is selected.