Update Re-Order Prices


Utilities Menu -> Inventory Control -> Rates/Costs/Prices -> Update Re-Order Prices

This program lists the selected products in product number or description order, so that the costs and re-order prices for products may easily be changed.

The prompts are:

FROM PRODUCT #
Leave this field blank for all products, or select a starting product number for the selection range, or look it up in the Inventory Search window.
TO PRODUCT #
Leave this field blank for all products, or select an ending product number for the selection range, or look it up in the window.

CLASS OR 'ALL'
Accept All to include products from all Product Classes, or enter a specific class or select one from the Product Class Search window.

SORT BY
Select one of the following sort options:
  • Select Product # to list the products in product number order.
  • Select Description to list the products in product description order.

Resulting Product List Information:
PRODUCT NUMBER
The sales or rental product number is displayed.

CLASS
The Product Class assigned to this item will display.

AVG COST
The average cost influences the value of the inventory, and is reflected in Inventory Value Report.
The average cost will rise and fall as the purchase cost of this item changes.

This value is accessible and can be adjusted for Sales items only, and only if the Average Cost by Location feature is not activated.
If your firm does use the Average Cost by Location feature, costs for Sales items can be updated in the Average Cost by Location window.
This value is not accessible for Rental equipment as costs are controlled by the Fixed Asset Tags assigned to the products.

Note: Since the average cost reflects both old purchases and new purchases, it is recommended NOT to alter the average cost of your sales inventory as part of routine updating.
The average cost should ONLY be altered if the inventory records are SEVERELY out of date.

If the average cost for a product is changed, use Post Product Average Cost Changes, to print an audit report and to generate the G/L postings for the change in the Inventory value.

COST BY LOCATION window:
Average Cost is generally the average over all locations and then this window is not required.
The Average Cost by Location window is only provide for sales parts if your firm uses the Cost by Location feature as activated in the "Support Application Parameters.

LAST COST
This cost is the cost when this item was last purchased from your supplier.
The last cost is used to calculate the List Price.

This value is accessible and can be adjusted for rental items and also for sales items when Average Cost by Location is not activated.
When Average Cost by Location is activated, the Last P.O. Cost for sales items can be updated in the Average Cost by Location window.


Re-Order Information:
RE-ORDER PRICE
This is the price used by your supplier when making new purchases of this item.
It is displayed as the Order Cost when entering a Purchase Order and if a new Order Cost is entered on a P.O., the operator is offered the option to "UPDATE RE-ORDER COST?" This keeps this field up to date.

This value is accessible and can be adjusted for sales and rental items.
Any changes made to the Re-Order Price are tracked, and a Reason Code can be required as outlined in Prompt for Reason Code.
An audit report on history of Re-Order Price changes can be generated from Product Value Override Report.
Re-Order Price changes are also included in the more general Override Report.


RE-ORDER LCF
This factor is used to calculate the Landed Re-Order Cost of the product in the local currency.
This value is accessible and can be adjusted for sales and rental items.

LANDED RE-ORDER PRICE
This is the product cost in the local currency.
The Re-Order Price * Re-Order LCF = Landed Re-Order Price.

DESCRIPTION
The primary product description is displayed.

COST ADJUSTMENT DATE
When an average cost change is accepted the Operator is prompted for the Cost Adjustment Date.
This date is used to track cost changes and is reflected in View Average Cost Adjustments.

Posting Average Cost Changes:
After changing anyAverage Cost values the Post Product Average Cost Changes must be run to print the audit report and to generate the G/L postings for the change in the Inventory value.


Topic Keyword: RSPF45
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