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Moving Average Item Purchased in wrong price and Meterial Consumed

Hi Experts,

One of the user made Goods Reciept PO in wrong price (for ex user made MRN at Unit price of 100 Rs instead of 10 Rs). And the material also issued or consumed. Please give any solution for rectification or work around to rectify these transactions. Below are the Configuration details.

Valuation Method : Moving Average

Purchase Accounting : YES(Enabled)

Batch/Serial Enable : NO

Thanks in Advance

Regards

Karunakaran P.

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4 Answers

  • Posted on Aug 19, 2015 at 05:25 PM

    just create a/p invoice with correct value will solve this in a certain way.

    and it is also a good idea to use inventory revaluation transaction to adjust item cost.

    The real problem here is the cost of sold, by giving the wrong price on GR, u basically gave the system wrong cost of sold at that time, in the long run, moving avg will make it correct again, but for those past transactions, it will stay wrong forever, but if u look at the whole period, the sum of cost of sold is still correct because inventory revaluation will be help to adjust that.

    No need to worry about that too much.

    Frank

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  • author's profile photo Former Member
    Former Member
    Posted on Aug 19, 2015 at 05:50 PM

    Dear Frank Wang,

    Thanks for your prompt reply. But here the problem is i need to cancel the A/P Invoice since the vendor balance will affect our financials in huge value difference. Can you please suggest any other way to achieve this..?

    Thanks & Regards

    Karunakaran P.

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  • Posted on Aug 19, 2015 at 06:28 PM

    Hi Karunakaran

    Can you tell me what is the stock status for related FG? If it is one production stock can you do the Inventory revaluation for that item.

    With Regards

    Balaji Sampath

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  • author's profile photo Former Member
    Former Member
    Posted on Aug 20, 2015 at 12:01 AM

    Hi Karunakaran ,

    The best way to deal with this kind of problem is to reverse back all transactions and put them right.

    That may only be done if the problem is new. However, since they had be issued or consumed, it may be too late to do so.

    However, you still need to try to create reverse transactions if possible.

    Thanks,

    Gordon

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