Updating Standard Cost

Periodically, you must update Standard Cost. See About Calculating Standard Cost for details. Once you understand this process, you can use this summary of steps.

Note

To preview the changes these processes will make to your data, it is recommended you run these processes in your test company prior to working in the live company.

1. Run Adjust Cost - Item Entries.

2. Run Post Inventory Cost to G/L batch job.

3. Open the Standard Cost Worksheet.

4. 1. Run Suggest Item Standard Cost batch job with Purchase selected as the Replenishment System. If you leave the Item No. field blank, all Items will be considered in the batch job. Complete the fields on the Options tab.

   2. Review the results and make changes as necessary.

   3. Run Suggest Work/Mach Ctr Std Cost batch job. If you leave the filtering fields on the Work Center and Machine Center tabs blank, all Work and Machine Centers will be considered in the batch job. Complete the fields on the Options tab.

   4. Review the results and make changes as necessary.

   5. Run Roll Up Standard Cost.

   6. Review the results and make changes as necessary.

   7. Run Implement Standard Cost Change.

5. Review and post the Revaluation Journal which has been populated with entries from previous steps in this process.

Related Topics

Costing Methods

Filling in the Revaluation Journal Manually

Filling in the Revaluation Journal with the Batch Job

Posting Revaluation Journals

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