Before the future prices are activated, the following steps must be taken:
Enter new prices manually for component and/or work centre
- Enter future work centre prices and from dates on the Work centre maintenance panel.
- Enter future purchase prices for components in the New stand pur price field and enter a future date in the Calc effect date field on the Item file maintenance, Inventory information panel.
Note: If Cost per warehouse is set to YES in the DIS control file, complete the fields mentioned above on the Item file maintenance, Warehouses panel.
Perform product costing with future date
Perform a product costing for the parent item. See Calculate cost online for instructions, but be aware of the following exceptions:
- The Calculation date field on the Product costing online selection panel: Enter a future date in order to retrieve the future prices that were previously entered for components and work centres.
The following is updated when you click Save prod cost on the Product costing online – Overview panel:
- The calculation will be saved in the Product costing enquiry file.
- The Calc standard cost field in the Item file will be updated for parent items and sub-assemblies with the calculated standard cost that is based on the new/future prices that were previously entered for components and work centres.
- The Calc effect date field in the Item file will be updated for parent items and sub-assemblies with the date for which you performed the product costing (Calculation date field on the Product costing online selection panel).
Move future prices to actual
The product costing has been performed and the future standard costs have been calculated and updated in the Item file for the parent item and the sub-assemblies.
The following describes how to move the standard cost price and the new standard purchase price from the future price fields (Calc standard cost and New stand pur price) into the operational field Standard cost in the Item file. When the standard cost price is updated with a new price, bookkeeping transactions will be created for the difference in stock value.
- Select the Work with reports/jobs – MFG Basic Data menu item.
- You access Work with batch jobs. Select MOVE_COST and click Submit job.
- You access Move future cost prices to actual.
Use the selection fields on this panel to narrow down the selection of items for which future prices should be moved to actual price fields. Click OK.
The system moves the future prices to the active price fields for the selected items. Exit the routine.