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
Estimated Total Value on Inventory Adjustment - calculations for standard costing method
I hope you can help me please
Having set up standard costing, I have entered items data and location standard cost on the inventory records
Item ABC632 for example
I have a qty on hand of 24 and the location standard cost is 3.19608696 (therefore total value is 24 x 3.19608696 = 93.98608704)
I make an inventory adjustment using Transactions>Inventory>Adjust Inventory - accessing the Inventory Adjustment form. On the IA form, I can see that the system has rounded up the cost per unit to 2 decimals places. The current value for the starting qty of 24 as above is rounded to £93.99 (not displayed to 7 decimal places, which is what I expected to happen give that stanard cost is being used)
Tagged:
0