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  • 1.  Inventory Valuation

    Posted 01-05-2021 23:05
    Client is currently using Lot #'s as their primary method to value their inventory.  Their corporate office wants to switch to standard costing.  But they don't want to give up their ability to track lots.  Does anyone know of an enhancement that will value at standard but track lots?​

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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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  • 2.  RE: Inventory Valuation

    Posted 01-06-2021 09:40
    They shouldn't need an enhancement.  Just always receive (RoG) at Standard Cost.  Set up an alert to warn of any inventory where lot unit cost doesn't match Standard.

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    Kevin Moyes
    Technical Systems Analyst
    Munjal White Consulting Co.
    Toronto ON
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  • 3.  RE: Inventory Valuation

    Posted 01-06-2021 10:22
    Confused.  Not following.  Inventory is valued only one way.  So if the valuation method is changed from LOT to STD, how is the lot # getting keyed during production entry and tracked.
    ​

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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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    Original Message


  • 4.  RE: Inventory Valuation

    Posted 01-06-2021 10:30
    My idea (untested) leaves it as Lot valuation, and manually sets costs to match Standard during the receipt.  It won't technically be Standard valuation... only logically.  Changing Standard costs would involve -/+ adjustments, which would be messy if they do that often.
    BM production complicates things... you'll have to script something to calculate the manufacturing variance manually so outputs are at the correct cost.

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    Kevin Moyes
    Technical Systems Analyst
    Munjal White Consulting Co.
    Toronto ON
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    Original Message


  • 5.  RE: Inventory Valuation

    Posted 01-06-2021 10:07
    I had a client with a similar requirement and we went the UDF route to hold the lot numbers and moved them to Standard Costing. We did some additional scripting to require the lot number during sales order/purchase order and it ended up working for the client.

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    Kate Krueger
    Business Applications Manager
    Eide Bailly, Inc.
    Denver CO
    970-692-5113
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  • 6.  RE: Inventory Valuation

    Posted 01-06-2021 10:43
    @Kate Krueger - Where are you storing the lot UDF's (numbers and quantities)?  This client also does BOM production entry so I can see this quickly becoming a can of worms.  Interesting concept though​!  Hard to believe that only two Sage users have this need.

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    Jeff Schwenk
    FORMER 90M Board Member
    Bottomline Software, Inc.
    Waynesboro VA
    540-221-4444
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    Original Message


  • 7.  RE: Inventory Valuation

    Posted 01-06-2021 13:21
    Another idea: change to Standard valuation, and add Multi-Bin, using the bin #s as lots.  Receive into a new bin.  Produce into a new bin.  Ship from existing bins...  (Transaction history would not automatically record the bin#'s though... you'd have to set something up if you needed that).
    ​​

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    Kevin Moyes
    Technical Systems Analyst
    Munjal White Consulting Co.
    Toronto ON
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    Original Message


  • 8.  RE: Inventory Valuation

    Posted 01-07-2021 09:11
    My client uses a custom report at month end that calculates Standard Unit Cost against Qty on Hand per warehouse and posts a Purchase Price Variance through a journal entry.  Their "version" of the IM Trial Balance Lets them see Lot Value vs Standard Cost Value.  Having an alert that "warns" when items are received outside the standard would be helpful also.

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    Madeline Stefanou
    RKL eSolutions, LLC
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    Original Message


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