The challenge here is that the General Ledger posting may be in a prior accounting period. In this case, you might need to change the General Ledger Setup date range, the User Setup date range, and/or reopen an inventory period. You may encounter the error regarding being out of the allowed posting date range. Finally, enter the “Unit Cost (Revalued)” and post:įigure 6 – Enter the item number, the Entry Number, and the Unit Cost (Revalued) Next, populate the Revaluation Journal by manually entering the item number, then the Entry No. of interest in the Item Ledger Entries list
for that Item Ledger Entry is 34:įigure 5 – Locate the Entry No. In the Item Ledger Entries list below, the Entry No. I want to revalue the positive adjustment posted on. First, find the “Entry No.” you want to revalue in the “Item Ledger Entries” list for this item. If you would like to revalue a single positive entry only, you will need to use the Revaluation Journal differently. When the Revaluation Journal is posted, you can see the result on the Item Card, where the Unit Cost is now 150.00:įigure 4 – Item Card showing revised Unit Cost Scenario 2 Then, repopulate the “Unit Cost (Revalued)” with 150.00:įigure 3 – Repopulate “Unit Cost (Revalued)” The function will populate the Revaluation Journal with a line for all of the Item Ledger entries for this item that have a “remaining quantity” greater than zero. Using the Dynamics NAV Revaluation Journal, run the function to “Calculate Inventory Value”.įigure 2 – Run the function “Calculate Inventory Value” using the Revaluation Journal We would like to revalue the entire inventory to 150.00.įigure 1 – Item Card showing original cost of $148.10 Looking at a Dynamics NAV 2013 Item Card below, we can see that the Unit Cost for this item is 148.10. Let’s look at how to revalue in each scenario using the Revaluation Journal: Scenario 1 Most Dynamics NAV users are familiar with using the Dynamics NAV Revaluation Journal for the first scenario, but are not familiar using it with the second.
This scenario could be caused by an incorrect cost posted in a Dynamics NAV Item Journal in which that inventory has already been deducted from inventory. In the second scenario, you would want to revalue a single increase to inventory (positive adjustment, for instance). In the first scenario, you would want to revalue all of the remaining quantity in inventory for an item. There are typically two scenarios regarding inventory revaluing. NOTE: Because Standard Cost is handled differently, I will explain it in a future entry and deal only with costing Methods of FIFO, LIFO, Average, and Specific at this time. This blog entry explains how to revalue inventory using the Revaluation Journal in Dynamics NAV. There are times when it becomes necessary for a company to revalue inventory.
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