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• Agenda Builder launch
• SuiteWorld On Air registration
• New NetSuite Prompt Studio Contest
• And more!
Check out this thread to learn more!
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Don’t miss your chance to meet our SuiteGurus—NetSuite Support professionals and subject matter experts with extensive experience in select product areas, including OneWorld, Advanced & Basic Accounting, Supply Chain Management, Receivables & Payables, CRM, Account Administration, and the SuiteCloud Platform. Full Conference attendees can prebook exclusive 30-minute one-on-one sessions for your product questions.
Spots are limited! Register through your Agenda Builder and find SuiteGuru under Agenda Enhancements.
Change costing method from FIFO to Average
Hi Gurus,
Our company is planning to move costing method from FIFO to average costing. We know that once items are set up, costing method can no longer be changed. Doing this therefore is like doing a cut-over/re-migration of inventory item master. I would like to know the best practices or specific steps towards this. I am thinking:
Obtain a snapshot of current inventory value and count
Flag the items with the old costing method
Create new items with the new costing method
Remove the inventory from the old item
Inactivate old items
Increase inventory of the new items in the proper location - via adjust inventory worksheet
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