Update Standard Costs

Form ID: (IN502000)

Note:

This form is available only if the Inventory feature is enabled on the Enable/Disable Features (CS100000) form.

By using this form, you can mass-update standard costs. You can view by warehouse the list of the inventory items with pending standard costs and update the standard costs for all items displayed in the list or only those you select. You can specify the pending standard costs for stock items on the Price/Cost tab of the Stock Items (IN202500) form and override the costs for a particular warehouse by using the Item Warehouse Details (IN204500) form. You can specify the pending standard costs for non-stock items on the Non-Stock Items (IN202000) form.

When standard costs are updated and inventory is revalued for multiple inventory items, the system generates a consolidated inventory adjustment for the items being processed to make the necessary cost corrections. The consolidated inventory adjustment is generated on the current business date. To view the list of generated adjustments, use the Adjustments (IN303000) form. For more information about cost processing, see Item Costs and Valuation Methods: General Information.

Attention:

If multiple branches are used in the system, a separate inventory adjustment is created for each branch.

Form Toolbar

The form toolbar includes standard and form-specific buttons and commands. For the list of standard buttons, see Form Toolbar and More Menu. The form-specific commands are listed in the following table.


Button	Description
Process	Updates the standard costs for the inventory items you have selected in the table.
Process All	Updates the standard costs for all inventory items listed in the table.

Selection Area

You use the elements in this area to select the warehouse where the standard costs will be updated and the latest effective pending cost date.


Element	Description
Warehouse	Select the warehouse or leave this box to view the inventory items for all warehouses. This box appears only if the Multiple Warehouse feature is enabled on the Enable/Disable Features (CS100000) form.
Max. Pending Cost Date	The latest effective pending cost date. The system displays all costs pending update with a date earlier than or the same as this date.
Revalue Inventory	A check box that you select to indicate that inventory revaluation should be performed during processing. If the check box is selected. the system only revalues the inventory without updating standard costs. If this check box is cleared, the system updates standard costs to pending costs, and then revalues the inventory,

Table

In this area, the inventory items with pending standard costs are shown in a table, and you can select the items for which standard costs will be updated.

The table toolbar includes only standard buttons. For the list of standard buttons, see Table Toolbar.

Table 1. Table Columns
Column	Description
Included	An unlabeled check box that you select to indicate that the item will be included in processing if you click Process.
Inventory ID	The inventory item whose pending standard cost can be updated.
Warehouse	The warehouse where the stock item is stocked. This column appears only if the Multiple Warehouse feature is enabled on the Enable/Disable Features (CS100000) form.
Inventory Account	The asset account to be used for the adjustment generated in the process of updating the standard cost of the item.
Inventory Sub.	The corresponding subaccount to be used with the inventory account.
Pending Cost	The value set as a pending cost for the item on the Stock Items (IN202500) or Item Warehouse Details (IN204500) form.
Pending Cost Date	The date of the planned update of an inventory item's standard cost.
Current Cost	The currently effective standard cost of the inventory item. The current cost is copied from the Item Warehouse Details (IN204500) form.
Std. Cost Override	An informational check box that indicates (if selected) that the standard cost of the item may be overridden at the selected warehouse.