Revaluing Standard Cost Inventory in Bulk
This bulk process enables you to create inventory revaluations for multiple items at one time. Standard costing data is retrieved from existing cost version records and does not need to be entered manually.
Standard costing data for assembly components is updated or created on cost version records as necessary.
To revalue standard cost inventory in bulk:
-
Go to Lists > Accounting > Revalue Standard Cost Inventory.
-
Select one or more Standard Cost Versions. Click the icon to open a multi-select popup window.
A list of items corresponding to the cost versions shows.
-
Select or enter the effective date. This is the date after which the price on the planned standard cost record is used for costing calculations.
-
Select an Adjustment Account. The inventory value variance amounts post to this account.
-
Check the Revalue Assemblies based on Components box to revalue all affected assemblies based on the component selected.
Upon submitting this page, NetSuite remembers your selection for this box. The next time you open this page, NetSuite checks or clears the box based on the previous use.
-
Check the box next to an item to include it in the cost rollup calculations. Clear the box next to an item to exclude it from calculations.
Check the All Items box to perform calculations for all items.
-
Click Submit to perform the calculations.
After you submit the page, all marked items have their inventory value calculated. The prices on the planned standard cost record are used on transactions going forward.