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NSC | How to Adjust Historical Landed Costs: Best Practices

edited Jul 28, 2025 10:54AM in Accounting / ERP

Scenario:

The user wants to update or correct landed cost amounts on historical transactions—either due to incorrect entries or changes in actual landed expenses. This often applies to Item Receipts or Vendor Bills recorded in earlier periods.

Solution:

Adjusting historical landed costs can be complex due to potential cost recalculations, inventory valuation impact, and posting period restrictions. The best approach depends on the age of the transaction, volume of affected items, and whether the posting period is still open.

Recommended Best Practice

  • Use Journal Entries
    • For historical transactions—especially those in closed periods, involving multiple items, or dated several months back
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