Revise Cost / Selling Prices on Generated Stock Transactions

When posting stock transactions, typically from Order Processing, there can be times that at the point of delivery and goods received the costs (particularly) are not assigned correctly – for example on a Purchase Order the cost may have changed on receipt of the invoice but the goods were delivered a week ago and have been issued already. This new feature allows the option to revise the cost price and/or selling prices on generated stock transactions and, where applicable, update stock values.

Selecting the new option for ‘Revise Stock Transactions’ the system prompts for the Stock Code you wish to update before asking you to PROCEED or ABANDON. At this point you can change the filter options of the transaction records to be displayed to omit selected transaction types.On selecting to PROCEED the stock transactions for this item are displayed.

Transactions are listed in LIFO sequence based on the order generated unless the system is set to record dates to the FIFO table in which case they are listed in reverse date order. You can scroll up/down the list of transactions as required with menu options at the bottom of the screen to access the Stock Ledger Enquiry (ZOOM), revise transactions for a different stock item (ANOTHER), return to the F4-Search results you used to select this item (SELECT), or CLOSE to exit back to the menu.

Pressing the <Enter> key against any stock transaction record displays a pop-up screen allowing you to change the cost-price for the transaction and, for sales issues, the selling price.

Depending on the age and the type of transaction various updates can be performed to the stock values. These are:

Type 1-Sales Issue (with positive action qty) – if forward transaction the system will update the forward sales value / cost value by adjusting out the original value of the transaction and adjusting back in the new value. If current period transaction the system will update the current / year-to-date cost and sales values. If any older than the current period only the stock transaction is updated.

Type 1-Sales Issue (with negative action qty) – updates to stock sales value and cost of sales value proceed as above but if system is set to update the FIFO table for returns then if within the last X goods in transactions (where X is the number of FIFO bands saved according to the system profiles) then the system will update the appropriate FIFO cost with the amended cost price when original qty/cost match the existing FIFO entry.

Type 3-P/Order Delivered and Type 4-Goods Received (with positive action qty) – updates the FIFO table if within the X FIFO bands. In addition if updating cost on an average basis then the system will prompt whether to update the cost price or not. If updated then the system takes out the value of the original cost / qty and re-averages the new value in. If updating cost on a replacement basis then only the last goods in transaction will update cost (and this will be updating automatically). If the system is set to record batch transactions to the stock transaction file then the batch cost will also be updated.

Type 3-P/Order Delivered and Type 4-Goods Received (with negative action qty) – updates stock transactions only.

Type 5-Adjustments and Type 8-Stock Take Adjustments (with positive qty) – updates the FIFO table as goods received and will prompt to update average cost. Will also update batch cost where batch transactions are recorded to the stock transaction file.

Type 5-Adjustments and Type 8-Stock Take Adjustments (with negative qty) – updates stock transactions only.

Type 7-Transfers (with positive qty) – prompts to update cost price and will update FIFO table as goods received above. Again if recording batch transactions to stock transaction file will update the batch cost.

Type 9-Assembly Build (with positive qty and for assembly item) – prompts to update cost price and will update the FIFO / Batch Costs where appropriate.

Type 9-Assembly Build (with negative qty and for assembly item) – updates stock transaction only.

Type 9-Assembly Build (with negative qty and for component items) – updates sales and cost values as per sales issues above.

Type 9-Assembly Build (with positive qty and for component items) – updates sales and cost values as per sales issues above and also updates FIFO table where set to update FIFO for goods returns.

Editing the cost / selling prices has no effect on any tax amount, discount amount or currency price recorded. Similarly it has no effect on any values recorded on transactions already generated within the financial ledgers – this is a tool for updating values for Stock reporting only.

No update of batch details will occur unless using the stock transaction file as the batch transaction file.

This process edits the existing stock transaction – the process does not save any original values from before the change.

Installation

The option to ‘Revise Stock Transaction’ needs to be updated into the Stock menu structure. To update the menu layout sign on as the CONFIG user and select the option Application Menu Design. Select the menu to update – the main stock menu is usually ST.D03. Confirm the default program and select whether the ‘Revise’ option is to appear on the left or right of the menu. Move down to blank entry on the menu, enter the title for this option and press <Enter> to set the menu parameters.

Other options can be set as required. Note that the system uses the generic Stock Transactions authority level from the Security & User Manager so you may want to set a higher authority level within the menu design configuration.

The system displays a pre-set list of stock transaction items as part of the revision option – transaction type, date, reference, description, qty, cost-price and selling price. Up to five additional items from the stock transaction file can be configured for display from the stock transaction file.

To update select Installation from the main menu followed by Application Manager and then Application User Facilities. Select the Stock Control application and then Stock Transactions before moving to the second screen of parameters.

Show Extra Items on Revise Transactions – when set a pop-up is displayed enabling you to select up to five additional items from the stock transaction file to be displayed on the pick list.

Article ID: 85
Created On: Fri, Jun 8, 2012 at 4:16 PM
Last Updated On: Thu, Jun 22, 2023 at 11:34 PM

Online URL: https://kb.datafile.co.uk/article/revise-cost-selling-prices-on-generated-stock-transactions-85.html