When I Update Stock Value to G/L it is reporting on Latest Cost. How do I change so it reports on Average Cost?
When the Product Valuation Report is printed Eg. Product Valuation Detail – By Closing Inventory
the report will show the Latest and Average Cost.
When the Manage Product Default (Costing Based on) is set to Latest Cost and you Update Stock Values to G/L
the Stock Value will be equal to the Grand Total (Latest) from the Product Valuation report.
When the Manage Product Default (Costing Based on) is set to Average Cost and your Update Stock Values to G/L
the Stock Value will be equal to the Grand Total (Average) from the Product Valuation report.
To change the "Costing Based on" default, select Admin / Defaults / Manage Product Defaults – under the Preferences button, use the
drop down box to change the selection from Latest Cost to Average Cost.
NOTE: When the G/L Stock Values have been updated the Stock Value figures will be the figures that appear on your Profit and Loss report
and the Difference figures will be what appears on the Balance Sheet.