Dear Forum,

I am running Counter Sales for Adagio along with Adagio Inventory (latest version).

The challenge I have is that the Cost Of Goods Sold figure coming from Counter Sales seems to be costing based on the residual inventory value, seen when I print the Valuation Report which is a mess.

Can I get a life line how to clear these residual values so that the system will calculate at the correct (Standard Cost) which I have selected.

One Love from Jamaica.

Edward:

YOu have to post adjustments to clear the residual costs.

Thanks Douglas, got over 4000 items thought that there may be some automatic feature which could flag and adjust.

Will investigate doing an import batch.

Regards

Hello Edward,

There is no automatic process because a human has to decide the most appropriate way to deal with the costs and this will differ in individual circumstance.

Edward:

If you are using FIFO or LIFO costing then you will need to clear the individual buckets when doing the adjustmnets, not just the net residual cost.

I must admit the concept of the residual cost by way of description is clear however I believe the manual should say more on this very important subject than that covered on Pg 170 section 6-8 of the manual.

Additionally I am not too shore how to handle my current problem, one client is using standard cost and the other is FIFO. What I noticed is that Standard Cost client adjustment window is not showing any LOTS but the later using FIFO is.

Question
1: How do I determine which LOTS have what portion of the residual value for?



Regards

Hi Edward

By definition, a residual value can only exist when the quantity on hand is zero, so your question #1 is impossible to answer.

If an item has multiple lots which sum up to zero, you will need to collapse the lots. But that is a totally separate issue from residual values. The easiest way to collapse multiple lots is to reassign the item's account set to one that is using Moving Average as the costing type, save it, and then change it back to the original account set.

Steve

Dakota Softwware has a "Clear Item Quantities and Costs" function as part of the Toolkit.

I've not used it, so I can't say whether it will help for your scenario, but it may be worth a look.

http://www.dakotasoftware.com/toolkit.html

Edward:

Ryan has a good suggestion. The caveat is that this will not cretae a journal entry to book the adjustment to the GL. You would need to do this manually.

The problem will be that this function clears everything, not just the items with residual costs. You would need to find a way to get all of the applicable items into a single dedicated Report Group. YOu could then clear the costs of those items using the Report Group range.

Hi Edward,

The Toolkit For Adagio function includes a variety of ranges available to clear item quantity and cost. Item code, report group, category or item segment. You can also selectively choose items from a grid list.

Thanks,
Bob.

Thanks guys, I have the client adjusting them individually. This way they will appreciate the reason why they should not do a qty only adjustment.

It pays to learn, they are in this spot because the previous Accpac for Dos IC was being used standalone and they did not want to loose their history when I upgraded them to Adagio.

It took me sometime to figure out why the Counter Sales for Adagio was reporting the incorrect and sometimes "way out" figures from what my IC shipment report was telling me.

Guys: "Douglas, Bob, Ryan,Steve" keep up the good work your words of wisdom is always appreciated.

As for the tool my resources are not yet to the mark where I can foot the bill but I am saving up to have same very soon.

One Love..