Field help (CSTCOD1)
Leave as Primary issue method, the default valuation method, to run this report based on the valuation method defined on each product-site record selected for this report.
Alternatively, select from the following:
- Standard cost: The stock value is based on the fixed cost for the fiscal year that applies to the entered reference date.
- Revised standard cost: The stock value is based on the revised standard cost that applies to the entered reference date.
- Last cost: The stock value is based on the actual cost of the last stock transaction.
- Moving average cost: The stock value is based on the average value of the stock on hand on each of the reference dates selected for the report.
- FIFO cost: The stock value is based on the first in, first out method of turnover using the unit cost of each stock movement that occurred during the entered reference dates.
See Limitations: FIFO cost below.
- Average lot cost: The value of stock is based on the average value of each lot and sublot received into stock on each of the reference dates selected for the report.
- LIFO cost: The stock value is based on the last in, first out method of turnover using the unit cost of each stock movement that occurred during the entered reference dates.
- Budget cost: The stock value is based on the budgeted standard cost for the fiscal year that applies to the entered reference date.
- Simulated cost: The stock value is based on the simulated standard cost that applies to the entered reference date.
- Secondary issue method: The value of stock is based on the secondary valuation method defined for the valuation method defined on each product-site record.
To apply this valuation method the Accounting date check box must be selected.
You must leave the accounting reference dates as today's date, the default date, to apply the following valuation methods: Last cost, LIFO cost, Budget cost, Simulated cost.
Sage advises that the valuation method defined on each product-site record must match the Costing mode you set for this report, if this report is based on an average costing method such as Moving average cost, Average lot cost, FIFO cost or LIFO cost.
Limitations: FIFO cost
The FIFO value of stock calculated for this report might be slightly different from the actual FIFO value of the stock for the selected reference dates. The results can differ when transactions such as customer returns are entered in date order which changes their position in the FIFO queue.
Example
Transactions are entered in the following order:
- 01/01: Receipt 1 for 10 units.
- 01/03: Shipment 1 of 10 units.
- 01/05: Receipt 2 for 10 units.
- 01/07: Return 1 of 1 unit.
- 01/09: Shipment 2 of 1 unit.
- 01/11: Receipt 3 for 10 units.
On 01/10 the FIFO basis comprised Receipt 2, however the valuation report only considered 1 returns unit and 9 units from Receipt 1.
All receipt transactions are taken into account for the valuation, whether they are receipts, change receipts, or deleted receipts.
Receipt adjustments are linked to the valuation method defined for the product-site record. The valuation method defined on each product-site record must therefore have a FIFO valuation method otherwise receipt adjustments are omitted from the report.