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Inventory value

KR Mike
KR Mike Member, forum_userscommunity_users Posts: 4 Newbie
edited Sep 13, 2021 2:43PM in Ask A Guru 174.54.26.213

We have some items in our current legacy application that we want to migrate into NetSuite but they have no quantity of inventory but they do have an average cost. Do you know of a way to bring in the items with no quantity but a stated average cost?

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Answers

  • Emilia Ironov-Oracle
    Emilia Ironov-Oracle Member, forum_netsuite_mod, ORACLE_EMPLOYEE Posts: 703 Gold Trophy

    Hi @KR Mike,


    Thank you for creating this thread!  

    I'm tagging my colleague @Joy Noreen Magoling-Oracle who has the expertise on this matter so we can collaborate on how we can help you out.  

    To other users who may have insights with regard to this topic, feel free to add your comments by replying to this thread.  

    Kind regards,

    Emilia Ironov - Oracle | Ask a Guru

  • Joy Noreen Magoling-Oracle
    Joy Noreen Magoling-Oracle Member, forum_netsuite_mod, ORACLE_EMPLOYEE Posts: 479 Bronze Trophy

    Hello @KR Mike,

    I performed tests on this and I was able to bring the Location Average Cost of the item with no quantity on Hand by using Inventory Adjustment and Inventory Adjustment Worksheet.

    I. Using Inventory Adjustment

    1.) Go to Transactions > Inventory > Adjust Inventory

    2.) On the first line, select the item, increase quantity by 1 and indicate a unit cost (the average cost for that item).

    3.) On the second line, select the item again, decrease quantity by 1 and indicate a unit cost.

    4.) Save

    II. Using Inventory Worksheet

    1.) Go to Transactions > Inventory > Adjust Inventory Worksheet

    2.) Go to the item, increase quantity by 1, indicate average cost and Save.

    3.) Open another worksheet, decrease quantity by 1 and indicate average cost and Save.


    Let us know if any of these works for you or if further assistance is needed! 😊


    On a different note, it would also be very nice if you can set your display picture so the community can easily recognize you in the future. You can also visit Community Tip: Updating Your Profile to know how!

    =============

    If you find the reply to your question helpful, others with the same question might find it helpful as well. By marking “Yes” on the “Did this answer your question”, you’ll be able to aid the community to find the solution much easier and faster without the need to read through all the replies.

  • Joy Noreen Magoling-Oracle
    Joy Noreen Magoling-Oracle Member, forum_netsuite_mod, ORACLE_EMPLOYEE Posts: 479 Bronze Trophy
    edited Sep 14, 2021 2:11PM 192.188.170.86

    Hello @KR Mike,

    We've received your feedback on the resolution provided above through e-mail. Moving forward, it would be best if we provide our comments here in the community so that the members may be able to review and refer to this thread. 😊

    You've shared that you were unable to successfully perform the suggested Inventory Adjustment. Based on the screenshot you provided, it seems that you cannot set the Inventory Detail for the second line. May I confirm if the Inventory Status is enabled in your Account? You can check it through Setup > Company > Enable Features > Items & Inventory > Inventory Status. When this is enabled, the behavior you are encountering is normal since the system recognizes that there is no quantity on hand for the item, thus, we cannot proceed to setting the Inventory Detail for the second line - the negative adjustment.

    Nevertheless, what I can suggest is to save the Inventory Adjustment by having the first line only. Once saved, the system will now recognize that there is a quantity on hand/available for the item. Then we can create another Inventory Adjustment to decrease quantity by 1.

    Let is know if you'll be able to successfully test it this time or if you need further help.


    Thank you,

    Joy

    =============

    If you find the reply to your question helpful, others with the same question might find it helpful as well. By marking “Yes” on the “Did this answer your question”, you’ll be able to aid the community to find the solution much easier and faster without the need to read through all the replies.

  • KR Mike
    KR Mike Member, forum_userscommunity_users Posts: 4 Newbie

    I followed your example of adding one and deleting one item. It added an Average cost to the location but not at the header level of the item. Does this update, if so when? I have refreshed the page several times and the header level average cost is still blank.


  • Joy Noreen Magoling-Oracle
    Joy Noreen Magoling-Oracle Member, forum_netsuite_mod, ORACLE_EMPLOYEE Posts: 479 Bronze Trophy

    Hello @KR Mike,

    This is a standard behavior when there is no quantity for the Item. The above mentioned solution only updates the Location Average Cost, but not the main line Average Cost under Purchasing/Inventory tab.

    This is because the values are computed per the formula below:

    Total Value = 0.00

    Total Quantity = 0

    Total Value/Total Quantity=0.00/0 = Error

    Instead of showing an error, the system uses Null If function and returns blank for the Average Cost, =0.00/nullif(0,0) = returns blank if the divisor is equal to zero.

    You can check SuiteAnswer Id 75131 - Average Cost of an Item Is Null for your reference.

    I hope this clarifies your concern.

    Thank you!


    -Joy

    ============

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