| # Calculate and Actualize Standard Item Cost and Valuation Price (ticpr2225m000) Use this session to calculate and actualize an item's standard cost price and valuation price. You can navigate to this session from the Items - Costing (ticpr0107m000) session. To calculate and actualize the cost prices or valuation prices for multiple items at once, use the Calculate Cost and Valuation Prices (ticpr2210m000) session. Related topics Calculation of cost/valuation prices for standard/customized/STO items Cost price calculation methods Price calculation code Valuation prices Lower cost or market value Standard cost price Currency systems Multi currency aspects of cost price calculation Item In LN, the raw materials, subassemblies, finished products, and tools that can be purchased, stored, manufactured, sold, and so on. An item can also represent a set of items handled as one (kit), or exist in multiple product variants (generic item). You can also define nonphysical items, which are not held in inventory but can be used to post costs or to invoice services to customers. Examples of nonphysical items: Cost items (for example, electricity) Service items Subcontracting services List items (menus/options) Effective Date You can specify the effective date of the valuation price or cost price, which can be the current date or a date in the past. If the Backdate Valuation Price Allowed check box in the Cost Price Calculation Parameters (ticpr0100m000) session is selected, you can specify for which date the valuation price or cost price is calculated or actualized. Possible values Current Date The date for which the valuation price is calculated or actualized is the current date. Last Date of Previous Period The date for which the valuation price is calculated and actualized is the last date of the previous period. Specific Date The date for which the valuation price is calculated and actualized is a date in the past, which you can enter in the Specific Date field. Note If you select the Last Date of Previous Period option, you can also select the Reverse to original inventory value at start of current period check box. For more information, refer to Lower cost or market value Specific date If you click Specific Date, you can enter a date in the past in this field. Reverse to original inventory value at start of current period Using lower cost or market value (LCMV) to value inventory can result in an inventory value that differs from the inventory value that is calculated based on the original purchase prices. If the effective date is the last day of the previous financial period (the Last Date of Previous Period option is selected), you can use this check box to determine whether the inventory value is based on LCMV or on the original purchase prices at the start of the current financial period: If this check box is selected, LN uses the original inventory value when starting the current financial period. If this check box is cleared, LN uses the inventory value based on LCMV when starting the current financial period. Note You can only select or clear this check box if the Effective Date field is Last Date of Previous Period. Related topics Lower cost or market value Delete Cost Price History Data If this check box is selected, cost price history data is removed when the cost price data is actualized. Which cost price history data is removed depends on the value of the Number of Years to Retain Standard Cost Price History field in the Cost Price Calculation Parameters (ticpr0100m000) session. For more information, refer to Remove Cost Price History Data (ticpr2230m000). Performance aspects The setting of this field could affect system performance and database growth. For more information, refer to Remove item standard costing data. Continue Starts the calculation and actualizes the cost price. |