Adjust Cost

 
The adjust cost function allows the user to change the cost of the selected item.  If this is a stock item, the inventory and adjustment accounts specified within the System | Company Setup will post the appropriate journal entries for the posting.
 
Adjust Cost
1

General Ledger Summary of Cost
Adjustments regarding Posting Dates

1. General Ledger Summary of Cost Adjustments regarding Posting Dates
Current Inventory Adjustments creates General Ledger postings dated today's date.
Past Invoice Cost Adjustments creates General Ledger postings for the date of the ORIGINAL Invoice Date.
2

Edit the costs per stocking unit

2. Edit the costs per stocking unit
Editing the New Average Cost, New Last Cost, and the Commission Cost changes the indicated value for the SKU and does not change the historic costs.  After entering the Apply Adjustment button, , is available to complete the posting.  A change to the New Average Cost will generate a posting to the General Ledger Distribution report and will post a Inventory and Adjustments posting according to the setup of GL Pages 1, 2 & 3.
 
 
Adjust Cost
 
Adjust Cost

Posting Date

1. Posting Date
The above example does create Inventory Asset and Cost of Goods Sold adjustments postings on the date the cost adjustment was made, today's date.
 
 
3

The Past Invoice Cost Adjustment Screen

3. The Past Invoice Cost Adjustment Screen
The Past Invoice Cost Adjustment Screen allows the user to correct cost of historic invoices. 
 
The retails of prior invoices can not be changed. Use the POS > Manager Screen > Void Invoice or POS > Ring Sale > Refund features based upon the specific situation.
4

New Stock Cost, New Replacement Cost or New Commission Cost
may be applied to the "checked" invoices

4. New Stock Cost, New Replacement Cost or New Commission Cost may be applied to the "checked" invoices
 
Entering a New Cost into the indicated field will update the cost of the checked invoices.
In this example, the 6.260 cost will replace the 1,691.6712 cost once the Apply Invoice Cost is selected.  An example of this application of New Stk Cost is presented below.
Adjust Cost Adjust Cost
 

General Ledger effect of a New Stock Unit Cost Adjustment

The above example does create Inventory Asset and Cost of Goods Sold adjustments postings on the original invoice date.
The original Inventory Asset account and the associated Cost of Goods Sold are reversed. The new cost is then reflected with two correcting postings to the Inventory Asset Account and the Cost of Goods Sold account.
 
Adjust Cost
5

The displayed invoice control allows for the entry of a
date range and then Apply updates the listing of invoices

5. The displayed invoice control allows for the entry of a date range and then Apply updates the listing of invoices
The Check All and Uncheck All buttons toggle the left column of check boxes, determining which invoices will have their specified costs updated.
 
6

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6. <TODO : Control Name>
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<TODO : Control Name>

7. <TODO : Control Name>
<TODO>: Insert description text here...
For a more in depth of the report, click IC > Reports > Adjustments
 
 

Current Inventory Cost Adjustment

 
Current Inventory Adjustments creates general ledger postings dated today's date.
Adjust Cost
1

Item Information

1. Item Information
The item ID and description for the current item are displayed.
2

Cost Values

2. Cost Values
Editing the New Average Cost, New Last Cost, or Commission Cost changes the indicated value for the SKU but does not change the historic costs.  A change to the New Average Cost generates a posting to the General Ledger Distribution report and generates an Inventory and Adjustments posting according to the setup of GL Account Pages 1, 2, and 3.
 
 
Adjust Cost
 
Adjust Cost
3

Apply

3. Apply
 After entering a value in each field, the Apply Adjustment button becomes available to complete the posting.
 

Past Invoice Cost Adjustment

 
Past Invoice Cost Adjustments creates general ledger postings for the date of the original invoice date and allows the user to correct cost of historic invoices. 
 
The retails of prior invoices can not be changed. Use the POS > Manager Screen > Void Invoice or POS > Ring Sale > Refund features based upon the specific situation.
Adjust Cost
1

<TODO : Control Name>

1. <TODO : Control Name>
 
2

<TODO : Control Name>

2. <TODO : Control Name>
<TODO>: Insert description text here...
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<TODO : Contro Name>

3. <TODO : Contro Name>
<TODO>: Insert description text here...