Once in a while, you need to revalue what your inventory actually costs. Example of this could be that you enter the wrong price in the A/R Invoice or that the price is no longer reflective of the the actual value.
Step-by-step guide
- Go to Inventory->Inventory Transactions->Inventory Revaluation in your Modules tab
- Select the Revaluation Type you want (See notes below)
- Find your item in the Item No. column
- Fill out, or review, the data the in the required columns
- Click Add when you are done.
You can go into your Item Master Data, go to your Inventory Tab and your inventory should now reflect the changes made.
Note: You have two ways to revalue the inventory:
Price Change – select to change the cost of the item and calculate the value of the whole inventory according to the new price.
Inventory Debit/Credit – select to revaluate by changing the inventory value, which will cause the item cost to change accordingly.