| # Actualize Standard Cost and Valuation Prices (ticpr2220m000) Use this session to actualize the cost prices and valuation prices for standard items after you run the Calculate Cost and Valuation Prices (ticpr2210m000) session. You cannot actualize the cost/valuation price for customized or standard to order items. Related topics Calculation of cost/valuation prices for standard/customized/STO items Price calculation code Standard cost price Valuation prices Lower cost or market value Cost price and valuation price Item Group Group of items with similar characteristics. Each item belongs to a particular item group. The item group is used in combination with the item type to set up item defaults. 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. 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. The following are examples of nonphysical items: Cost items (for example, electricity) Service items Subcontracting services List items (menus/options) Only Items without A Standard Cost Price If this check box is selected, cost prices and valuation prices are actualized for those items for which a standard cost price is not already actualized. 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 Archive/Delete Cost Price History (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. Effective Date You can specify the effective date of the valuation price and/or costprice, which can be the current date or a date in the past: Possible values 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 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 must calculate an inventory value based on LCMV in the Calculate Cost and Valuation Prices (ticpr2210m000). The Prices Based on Lower Cost or Market Value check box must be selected. You can only select or clear this check box if the Last Date of Previous Period option is selected. Related topics Lower cost or market value |