Introduces inventory revaluation as single point to change the valuation of products.
Stock Account Inventory Revaluation
If your company runs a perpetual inventory system, you may need to perform inventory revaluation.
You can re-valuate inventory values by:
- Changing the inventory valuation of a specific product. The cost price is changed, and the inventory value is recalculated according to the new price. In case of real price, you can select on which quants you want to change the unit cost.
- Changing the value of the inventory. The quantity of inventory remains unchanged, resulting in a change in the price.
- Go to Inventory / Configuration / Products / Product Categories and define, for each category, a Valuation Increase Account and a Valuation Decrease Account. These accounts will be used as contra-accounts to the Stock Valuation Account during the inventory re-valuation.
- Users willing to access to the Inventory Revaluation menu should be members of the group “Manage Inventory Valuation and Costing Methods”.
- Go to Inventory / Inventory Control / Inventory Revaluation / Products to create a new Inventory Revaluation. For products set with average or standard price and real-time valuation, go to the Product form and use the link to change the standard price.
- In order to post the inventory revaluation for multiple items at once, select the records in the tree view and go to More / Post Inventory Revaluations.
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