Cost Adjustment

Cost Adjustment view allows user to adjust cost of particular batch of products’ stock inventory. Below are available actions for the user from “Cost Adjustment” view:

  Create new cost adjustment

  Update cost adjustment details

  Delete cost adjustment

  View and search for cost adjustment details

 

Field Name	Description	Mandatory Information
Document Date	Creation date of the document	Y
Document Number	Document number of the cost adjustment	Y
Reference Number	Code for easy reference search of the document	N
Branch	Name of company’s branch	Y
Warehouse	The warehouse of which stock cost to be adjusted	Y
Representative	Name of staff assigned to do the cost adjustment	N
Analytical Group		Y
Description	Additional information in regard to the cost adjustment document	N
Product Brand	Select product brand(s) to filter products	N
Filter	Enter keyword(s) to filter / search for products	N
Product	Product code of the item	Y
Description	Description of the item	N
UOM	Type of the item (Unit of Measure)	Y
Batch #	Batch number of the item to make adjustment	Y
Unit Cost	Cost per item, enter new value to adjust the cost	Y
System Qty	Available quantity of item in the warehouse’s system for the selected batch number	Y
New Value	New total cost for the available quantity of the item	Y
Adjust Value	Total adjustment cost value for the available quantity of the item	Y
Grand Total	Total adjustment cost for all the items on the cost adjustment document	Y

 

Create New Cost Adjustment:

1. Click on “Create New” at the top right of screen of “Cost Adjustment List” tab, it will open “Cost Adjustment” tab with empty form

2. Fill up cost adjustment’s information on the top half of screen

3. Click “Save” button at the bottom right side of screen

4. Filter the products list by selecting a brand from “Product Brand” drop-down list. Add product into the cost adjustment by searching for the product from the product drop-down list in the table on “Items / Articles” tab

5. Enter the product’s info. Select a batch from “Batch #” drop down list, it will pull up current unit cost and available quantity in the selected warehouse’s system

6. Enter the new unit cost in “Unit Cost” field and click  button to add the product into the cost adjustment

7. Repeat steps 4-6 to add more products into the cost adjustment

8. Click on “Notes / Attachments” tab at the middle of screen to add notes or files attachment for the cost adjustment

9. Click on “Save” button at the bottom right of screen to save

10. Click on “Confirm Cost Adjustment” button at the bottom of screen to confirm the cost adjustment

11. Click on “Post To Accounts” button at the bottom of screen to post the cost adjustment to accounts. Journal entries for the cost adjustment will be automatically created under “Posting” tab

 

Update Cost Adjustment Details:

1. Click on “Cost Adjustment List” tab at the bottom of screen

2. Double click on cost adjustment to be updated, it will bring up the details on “Cost Adjustment” tab for the selected cost adjustment. If a cost adjustment’s status is “Confirmed” or “Posted”, right click on the order and reopen / undo approval of the adjustment first

3. Make change(s) on the cost adjustment information

4. Click on “Save” button at the bottom right of screen to save

5. Click on “Revert” button at the bottom right of screen or refresh icon at the top of the screen to roll back the changes

6. Click on “Confirm Cost Adjustment” button at the bottom of screen to confirm the cost adjustment

7. Click on “Post To Accounts” button at the bottom of screen to post the cost adjustment to accounts

 

Delete Cost Adjustment:

1. Click on “Cost Adjustment List” tab at the bottom of screen

2. Double click on cost adjustment to be deleted, it will bring up the details on “Cost Adjustment” tab for the selected adjustment. If a cost adjustment’s status is “Confirmed” or “Posted”, right click on the order and reopen / undo approval of the adjustment first

3. Click on “Delete” button at the bottom right side of screen

4. Click on “Yes” button on the pop-up window to confirm cost adjustment deletion

 

View and Search for Cost Adjustment Details:

1. Click on “Cost Adjustment List” tab at the bottom of screen

2. Enter search parameter to filter the result, i.e. type in which warehouse to search for in the “Warehouse” text field box or select from drop-down list

3. Result can be sorted alphabetically by clicking the fields’ columns

4. Double click on cost adjustment to view full details of the document, it will bring up the details on “Cost Adjustment” tab for the selected document