Lee, 3/MDC (then 1/MDC & 4/MDC) will re-cost based upon how your item master is setup. One of the options is "Last Cost". This sounds close to what you are looking for.
Re-Costing purchased items will not generate AFI movements (for the purchased cost) so accounting will need to make manual adjustments as necessary.
Depending on how you configured System 21, I strongly advise you test this functionality in your test company or environment. It would also be advised to save your existing costs as a Cost Set (5/MDC) prior to the change.
We save our new purchased costs (to be updated) to a Cost Set and then use 3, 1 & 4/MDC to update costs throughout MFG and Inventory.
-----Original Message-----
From: system21-bounces@xxxxxxxxxxxx [mailto:system21-bounces@xxxxxxxxxxxx] On Behalf Of Lee Greenwood
Sent: Tuesday, May 06, 2008 5:34 AM
To: system21@xxxxxxxxxxxx
Subject: [SYSTEM21] Need to update material cost from purchase price
Hi,
We are a UK based company but most of the items we purchase are from the US in US$. The accounts department report in GBP £ which never used to be a problem as they had an exchange rate setup for the entire year. Now they have started to adjust the exchange rate at the beginning of each month which is distorting the stock value. What I would like to know is, is there anyway of forcing the system to change the material cost fields for all parts in a stockroom based on the current $ purchase price / current exchange rate. As we use landed costs these will also need to be added to the material cost to give the current standard cost.
I could write a program to do all this, but I would have thought it was already possible.
Any help would be appreciated. Thanks.
Lee Greenwood
IT Manager - Titan Europe Plc
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