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NetSuite Admin Tip: Incorrect Average Cost

edited Jun 28, 2024 3:20PM in NetSuite Admin Corner 2 comments

Users may encounter having incorrect average costs for their items. Causes of this scenario may vary from business to business.

Here are some tips on what we can do:

I. To check the cause of the behavior, we can do it through the help of different inventory-related reports such us, but not limited to, Inventory Valuation and Inventory Activity Detail.

II. Identify the type of Inventory to know the possible approach in resolving. Is it serialized or non-serialized?

III. To resolve,

a.) we can use the Adjust Inventory (Transactions > Inventory > Adjust Inventory) for serialized items. We just have to zero out the quantity first and then bring them back with the correct unit cost.

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