Home » Categories » Solutions by Business Process » Stock Control and Batch Tracking

Goods Returns - Update FIFO Cost Table

Datafile Software

Goods Returns - Update FIFO Cost Table

The Stock record contains a FIFO table which can be used for stock valuation purposes and records the last n goods receipts (where nis a value from 1 to 9). When goods are sold but then returned by the customer these ‘receipts’ did not update the FIFO table which, on items with highly variable costs, could result in a valuation which isn’t representative. Release 6.4 introduces a new option to allow goods returns to update the FIFO table.

Installation

System Profiles

A new option has been added to the Stock System Profiles to enable goods returns throughout the system to update the FIFO table. To update select Installation from the main menu followed by Application Manager, then System Profiles before selecting the Stock Control application.


Update FIFO for Returns– if set then goods returns (i.e. credits) will update the FIFO table on the stock record for the returned stock.

 Notes

 When returning stock via credits in Sales Ledger and Invoicer or through ‘negative’ stock issues in Stock Control if the system is set to update the FIFO table the system will prompt for the cost price of the return.

When returning stock via Goods Return Notes in Sales Order Processing or Assembly De-Kits in Bill of Materials the system will use the cost price recorded on the order detail (although you can configure a confirm item to amend this if required).

Custom Fields
  • Release ID: 6.4
Attachments Attachments
There are no attachments for this article.
Related Articles RSS Feed
Batch Transaction Reports - Batch Tracking
Viewed 1559 times since Wed, Jun 20, 2012
Reset Stock Take Values - Stock Control
Viewed 1725 times since Tue, Jun 19, 2012
Stock Assemblies - Flag as Obsolete
Viewed 9316 times since Fri, Nov 22, 2013
Order Acknowledgement - Batch Tracking
Viewed 1599 times since Tue, Jun 19, 2012
Stock Transfers - Stock Control
Viewed 1691 times since Mon, Jun 18, 2012
Stock Issues - Batch Tracking
Viewed 1489 times since Tue, Jun 19, 2012
Memo Facility Configuration - Stock Control
Viewed 1541 times since Tue, Jun 19, 2012
Works Order Entry - Batch Tracking
Viewed 1576 times since Tue, Jun 19, 2012
Automatic Stock Take – Zero Quantity Adjustments
Viewed 57 times since Wed, Oct 23, 2024
Over-Stocking and Slow Moving Stock
Viewed 1743 times since Mon, Jun 18, 2012