Manually Entering an Inventory Cost Revaluation
The Revalue Standard Cost Inventory page is used to activate a standard cost version in production, and also to recalculate the value of inventory items. For information about inventory revaluation for standard costing items, see Revalue Standard Cost Inventory.
To manually revalue standard cost inventory:
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Go to Transactions > Accounting > Revalue Inventory Cost.
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Select or enter the transaction date. This is the date after which the cost indicated on this page is used for costing calculations.
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Optionally select a posting period.
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Optionally enter a reference number.
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Select an adjustment account.
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Select the item you want to process for revaluation.
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Optionally enter a memo. Text you enter in this field can be searched for to find this transaction.
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In the Subsidiary field, select one or multiple subsidiaries. To select multiple subsidiaries, press and hold the Ctrl key.
This field appears only in NetSuite OneWorld.
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Select a department and class if you track them.
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Select a location. The location you choose determines the location where you can push this version to production and use it for standard costing calculations.
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Select a Cost Category. This category defines how cost variances will be tracked.
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In the Cost field, enter the standard cost for the item to be associated with the selected category. This is the fixed cost you expect to pay for the component on this line.
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Select a component.
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Enter a quantity. This is the number of this component you expect to use in a build.
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Enter a unit of measure.
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Click Add.
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Repeat these steps for each cost category you need to track for this assembly item.
You can associate multiple cost categories to track costs for assembly items. If you select only one category, the entire standard cost of the item is tracked in that category.
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Click Save.
After you submit the page, its inventory value is recalculated and the standard price indicated is used on transactions as of the transaction date. For more information, see Inventory Cost Revaluation Import.