Item Costs

The Item Costs function is used to:

  • Take on initial costs on implementation.
  • Enter, amend and view standard costs or defined average costs as required.
  • View latest or weighted average costs.
  • Enter user defined costs which are processed as for standard costs.
Uwaga: Because costs can be held by currency, cost type and up to nine cost analysis combinations, you need to define forms for entry which suit your needs. The sample forms supplied with SunSystems are unlikely to be suitable.
  1. From the Action menu within Item Master select Item Costs.
  2. Specify this information:
    Item Code and Description
    These fields are populated automatically from the item record currently open in Item Master.
    Cost Type Code and Short Heading
    The type of cost for the item, for example, goods cost, carriage, insurance or delivery. These must already have been set up using Inventory Cost Types (ICT).
    Currency Code
    The code for the currency that the costs are held in.
    Currency Type
    Used if Multi-Currency is in use.
    Depending on your selection in Inventory Costing Setup, costs can be maintained for some or all the base, reporting and transaction currencies. This field indicates whether or not this cost is in a transaction currency rather than either the base or reporting currency. The transaction currency is identified in the Currency Code field.
    Costs maintained in base or reporting currency reflect all item receipts because all transactions include these currency values. Costs maintained in transaction currency only reflect the receipts purchased in that currency.
    Uwaga: If receipts are entered either using the base or reporting currency as the transaction currency, two costs will be maintained for that currency. For example, if the Reporting Currency is US Dollars and a receipt is entered with USD as the transaction currency, you will have two costs: US Dollars (reporting) holding the current values for all receipts in US Dollars; US Dollars (transaction) holding the current values of receipts purchased in US Dollars only. The two figures are likely to be different.
    Cost Analysis ID
    The cost analysis that these costs apply to. Up to nine different cost analyses can be set.
    If no cost combinations are in use, this field defaults to No Analysis.
    Standard Cost
    The standard cost.
    Defined Average Cost
    Reserved for future use.
    Weighted Average Cost
    The weighted average cost.
    Latest Actual Cost
    The latest actual cost.
  3. You can also apply a user defined cost to an item which has previously been set up using User Defined Inventory Cost (IUC). From the Action menu within Item Costs Setup select Item UD Costs.
  4. Specify this information:
    Item Code
    Description
    Cost Type Code
    Currency Code
    Transaction Currency
    Cost Analysis
    These fields are populated automatically from the item record currently open in Item Master.
    User Defined Cost Definition Code and Short Heading
    The user defined cost code to be used.
    Period
    The period that the user defined cost belongs to. You can set up costs for different periods. For example, Period 10/200X has a user defined cost of 100 GBP and in period 11/200X it has increased to 120 GBP. This field is optional and is used in modules such as Inventory Revaluation.
    Item User Defined Value
    The user defined cost for this item for this currency, cost type and cost analysis combination.
    Date
    A user defined cost may have a date associated with it such as the date it was set up or the date when it was last amended. This field is optional.
  5. Save your changes.