Standard Costing FAQ

Is the Standard Cost field available to update using Mass Updates?

No. The Standard Cost field is available in CSV Import and SOAP web services only.

Can the Inventory Cost Revaluation transaction be backdated?

Yes, if the transaction is not dated in a closed accounting period.

Will the automated planned standard cost include components that use the Average costing method?

Yes. To be selected for the cost rollup, the item is not required to be set to the Standard costing method.

Is the Standard Cost field available on an assembly item record?

No. The Standard Cost field is not available on assembly item records because it is generated through the cost rollup.

Is it possible to create multiple revaluations per location for an item in one day?

No. There can be only one inventory revaluation for an item per day for each location. If attempt is made, this message is shown: “An inventory cost revaluation already exists for this item, location, and date.”

Note:

If you choose to manually add a revaluation, delete the existing revaluation, or change the transaction date for it. If you run the revaluation on a date for which an inventory revaluation already exists, the existing one updates with the new values.

If I change the Standard Cost value on the item record, will the item's planned standard cost automatically update and be revalued?

No, it is not automatic. You can choose to do one of the following:

Edit the planned standard cost record of the item manually and then run a revaluation.
Process another cost rollup and then run a revaluation.