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Understand some accounting items and how to make changes
Hello All,
We have been using Netsuite for some time now and wish to make some changes, and I am not sure how to make the changes, or if there is an easy way. Some questions are below I am hoping people can help answer:
Inventory items:
-We are using AVERAGE for the costing method.
1) Does the AVERAGE price ever get reset? Say when the item reaches 0 and then starts again to average out?
2) Is it possible, without setting up new items to change from say AVERAGE to FIFO? Maybe via an export and import function?
-If I need to revalue inventory, what would be the best way / easiest way to revalue all the inventory? Would this be done on an Inventory Worksheet?
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