I have the following settings in my B1/2007 system
1. Administration/System Initialisation/General settings/BP/Default payment Term for Supplier= 30Days(linked to Last Purchase Price, Price list)
2. Administration/System Initialisation/Company Details/Basic Initialisation Tab/Item group valuation method=FIFO
In the stock Item Master Data/Stock DATA Tab/, the Valuation Method does not pick up My Default set in 2 ( for some reason it is on Moving Average?)
Also in the COST PRICE field is not picking up any cost price and I wonder where is the DEFAULT SETTING for this - I looked everywhere and I could not find one. The issue here is that in order for FIFO system to work, this field should be picking up the table that contains the historical information - the charges into COGS are derived from this field (I think?)
The missing link for me is to understand where is the setting that makes FIFO pick up the correct historic Cost.
At present my current system settings do not give me the correct charges to COGS and it may be my lack of understanding or something wrong in B1. I hope its me..
If anyone has cracked this, I would be grateful for an explanation