Prerequisites

Master → Security → User Profile → Inventory Valuation

You will also need inventory with an available balance, as well as an open accounting period to perform inventory an valuation.

Looking up Inventory to Value

Inventory → Inventory Revaluation

Start by opening the Inventory Valuation form. This form works similar to the Physical by Lot and Location forms, so if you have used those we should be familiar with this layout.

To reprice inventory, enter search criteria in the first group and click "Retrieve".

Search options are:

• Item Code: Entering an item code will return the inventory balance for that item. This is a required field.

• Inventory Location: If you would only like to reprice inventory that has been designated to a location, we will enter that location here. In it's absence, all inventory for an item code will be returned.

• As-Of Date: This is the effective date that we would like to reprice the inventory. This date will get the inventory balance for that date. An as-of date cannot be entered that precedes a closed accounting period.

• Company and Division: The active company and division are considered when searching for inventory balances. If you need to value inventory in multiple divisions, you will need to change your division in the footer of ERP.

To reset the search criteria, click "Reset".

If the balance of inventory doesn't meet what you were expecting, here are some things to review.

• Does the receipt date occur after the as-of date of your search?

  • If the receiver date happens after the end-of-day as-of date the inventory will not be included in the list of inventory results.

• Has the inventory been allocated?

  • Inventory that has already been used, adjusted off or allocated will not be included in the balance. We use the same objects that calculate inventory balances to return the results as we do for other features that check inventory balances.

Revaluing Inventory

These are columns that list information about the retrieved inventory:

• Inventory Info

  • Location: This is the inventory location. It will match the search criteria, if provided.

  • Item Code: This is the inventory item code. It will match the search criteria.

  • Lot #: The Inventory lot number, if provided on the inventory.

  • Receipt Date: The date of the inventory receiver.

  • Production Date: The Inventory production date, as entered by users at the time of inventory creation.

  • Comment: The inventory record comment, as entered by users, at the time of inventory creation.

• Current Units and Value

  • Available Quantity: The available units.

  • UOM: Available unit units of measure.

  • Total Value: The current value of the inventory.

  • Value per Unit: The value per unit of the inventor.

• Current Pack

  • Available Pack: The available pack.

  • UOM: Available pack unit of measure.

The "New Value" band is editable, this can set adjustment codes and values on a row by row basis:

• New Value

  • Adjustment Code: Enter the adjustment code that you will be revaluing our inventory against.

  • Total Value: Read-Only field of the total inventory value.

  • Value Per Unit: Editable field that calculates the value per units.

Immediately above the grid is a field for entering an adjustment code and setting the new per unit value. Entering these values and clicking "Update Grid" will recalculate each record that was returned.

If a user changes their search criteria and hits"Retrieve" with these values populated, these values are set when the search results are returned.

When finished with input, record-by record or using the "update grid" feature. click "Save". Clicking save will, for each inventory item:

• Adjust current inventory records to "0" units. Maintain the price.

• If inventory posts to GL, Post the necessary adjustments to the sub ledger.

• Create new inventory records with the same receipt and production dates. Add the adjusted inventory amount and new value to the created inventory

In the example provided. I have saved and reloaded the form. I can see that my inventory, before making any new changes, has been revalued to the amount from my previous save.

Inventory → Report Wizards → Transaction Register

Despite the age and availability of the inventory. Any transactions for units that are revalued will appear in the transaction register on the effective (as-of) date of the revaluation. There are two codes that denote that a revaluation occurred:

1. Code 904: The original inventory balance and value is adjusted to zero.

2. Code 905: A new record is created with a new balance, with any remaining inventory applied to the new transaction.

When the new transaction is created, it will be related to the original inventory, similar to a transfer. The record will be created by the user that performed the transfer, and the transaction date will reflect the date of the revaluation. Unless explicitly mentioned above, all other fields (receipt dates, production dates, kill dates, etc) remain the same as the original inventory.