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Updating Most Recent Costs

Problem Details:

Posting a PO Receipt for an item, but that item's Most Recent Cost does not reflect the new receipt cost.

 

Solution:

Most Recent Cost is updated at one of two different times:  at PO Receipt costing or at PO Invoice costing.  This option is selected by the user in PO Setup / Options on the Processing tab:

The costing may take place at the time of posting the document or during day end processing.  The setting for this option is located in IC Setup / Options on the Costing tab. 

Note that the Most Recent Cost for the item will include any prorated additional costs as well, provided these costs are recorded at the same time as the item cost.  If they are recorded separately, or after the initial cost of the items is recorded, the additional cost will not be included in the MRC.  For example, the setting to update MRC is at Receipt costing, and costing is set for during posting.  If the receipt is posted without any additional costs, the MRC will be for the value of the item only.  If an additional cost is added to the receipt later, the item cost will be updated in inventory control, but the MRC will remain at the original value.

 

 

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