Enabling Standard Costing
To use standard costing for items, an administrator should first enable the feature. This way, item records have the option to use Standard in the Costing Method field.
If the Multi-Location Inventory feature is not already enabled, you should enable it to use Standard Costing.
Before you enable the feature, verify that the preference to Use Item Cost as Transfer Cost is disabled. For information about this preference, see Transfer Order Preferences.
To enable Standard Costing:
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Go to Setup > Company > Setup Tasks > Enable Features.
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Click the Items & Inventory subtab.
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Verify that the Inventory box is checked.
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Check the Standard Costing box.
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Click Save.
After the feature is enabled, NetSuite automatically creates a default cost category. This category is used by default for all new inventory, assembly, and service item records you create. For information about creating additional cost categories, see Creating Cost Categories.
Related Topics
- Standard Costing Workflow
- Standard Costing Example
- Creating Inventory Cost Templates
- Setting Up Item Records for Standard Costing
- Defining Cost Versions
- Entering Planned Standard Cost Records
- Standard Cost Rollup
- Revalue Standard Cost Inventory
- Standard Costing and Transactions
- Assembly Build Production Cost Variances
- Standard Costing FAQ
- Standard Costing Reporting
- Standard Costing