Inventory Revaluation form Entry Detail

Revaluation Period

The period when the revaluation is carried out.

The User Defined Cost Definition Code and Period are used by the revaluation to obtain the new costs.

Definition Code

Period

This defaults to the Revaluation Period and the User Defined Cost Period on the profile.

The following details are taken from the settings in Inventory Business Setup:

Current Period

Period Open From

Period Open To

These fields are used if multi-currency functionality is in place for your system.

These conversion rates default to the conversion rate defined for the current period on Inventory Business Setup.

These rates can be changed using the Revaluation Period and Current Period fields on the Inventory Revaluation form. They are used to calculate missing costs for the other value type from the revaluation currency type. That is, if the revaluation currency type is set as base, they are used to calculate any reporting currency costs that have not been set up for the user defined costs being used for the revaluation.

The revaluation period and current period conversion rates should be set to the same rate. The revaluation period rate is used to value receipts that were in the inventory at the end of the revaluation period. The current period rate is used to value all receipts that have occurred in the current period. If they are not set to the same rate, items that were in the inventory at the end of the revaluation period are valued in the other currency type at a different standard cost to items that were received later.

Revaluation Period

The conversion rate to be used for transactions in the revaluation period.

Current Period

The conversion rate to be used for transactions in the current period.

Revaluation Currency Type

The currency type to be used in the revaluation. Options are: Base or Reporting.

Base Currency Code

The currency code defined for the base currency.

Reporting Currency Code

The currency code defined for the reporting currency.

If you use both base and reporting currencies in your system, the difference for the currency against which you revalue holds both the cost and any foreign exchange adjustment combined. In the ledger the difference is separated into the cost adjustment and the foreign exchange adjustment.

The following fields allow you to enter miscellaneous free text and dates, and can be used to pass information to the ledgers. In Ledger Interface you can set up transfer data codes which define the information to be included in various fields on the ledger transactions. For example, you might enter Annual Revaluation in a miscellaneous description field on the Inventory Revaluation form, and define the ledger interface so that annual revaluation appears in the reference or description field on every ledger posting generated by the revaluation.

There are two of each field as there are likely to be a set of postings for the current period, and a different set of postings for the revaluation period, each with its own ledger interface.

The data entered in these fields can also be included in reports.

IRM Misc Description 1 and 2

IRM Misc Reference 1 and 2

IRM Misc Date 1 and 2