Discussions
Stay up-to-date with the latest news from NetSuite. You’ll be in the know about how to connect with peers and take your business to new heights at our virtual, in-person, on demand events, and much more.
Now is the time to ask your NetSuite-savvy friends and colleagues to join the NetSuite Support Community! Refer now! Click here to watch and learn more!
New AI Community Guidelines. Please review and follow them to ensure AI use stays safe, accurate, and compliant.
Stay in the Know
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
Be sure you're subscribed to NetSuite communication to stay in the know about monthly happenings, updates and announcements. Subscribe
New to NetSuite | Inventory Revaluation for Standard Costing Items
This article will provide you a basic run down/overview on how to process the Revaluation of your Items that uses Standard Costing.
Standard Costing enables users to set standard costs for their items, as well as the tracking of variances and their causes. Upon enabling the Standard Costing feature and assigning the said costing method in the item record, the first thing that you need to do is to create an Inventory Revaluation before other GL impacting transactions. Note that the Inventory Revaluation establishes the cost of the items, hence this should be generated first before Inventory impacting transactions such as Item Receipts or Item Fulfillment.
Tagged:
0