Change the unit cost of a part

• Verify your costing method on the last line in IC, Utilities, Display IC Status
• If the part is in a finished subassembly
  • Unbuild it (IC, Transactions, Subassemblies, Unbuild) before correcting the component's unit cost
  • Then, rebuild the subassembly using IC, Transactions, Subassemblies, Build

LIFO, FIFO, or Average costing method

• Part's on-hand quantity is zero

1. IC, Parts, Maintain Parts.
2. Select the part.
3. Change the value in the Unit cost field.
4. Save.

• Part's on-hand quantity isn’t zero

1. Adjust the current on hand quantity out using IC, Transactions, Adjustments.
2. Select the part.
3. Enter the on-hand quantity as a negative value.
4. POST.
5. Adjust the on hand quantity in by entering a second adjustment to correct the cost.
6. Enter the part's on-hand quantity as a positive.
7. Enter the new cost.
8. POST.

• If you entered the cost incorrectly on the purchase order receipt, correct using IC, Transactions, Receipt Adjustment

Standard costing method

1. IC, Parts, Maintain Parts.
2. Select the part.
3. Change the amount in the Unit cost field.
4. Save.

How do inventory and order entry transactions post to General Ledger