Project and Division appearing for Balance Sheet accounts when using the new Added Periodic Revaluation for Inventory Items.
Is this a bug?
Sorry for the unintentional deleted post, it was the same as this one.
Please correct me if I’m wrong, when starting up with periodic systems, you have to:
- Input the inventory master data
- Set the standard cost for each item
- Enter the starting balance (iirc I did it from journal and it post to the right account if the standard cost are set beforehand)
Now we have both the qty and the cost of each items, and the cost value will always be constant, we update it periodically when it’s needed, is that how the software works with the new revaluation?
I still hope the periodic system is still there as option though, as in my area it’s still the method that’s preferred by the majority.
I’m all for periodic revaluations but also totally against loosing Automatic Revaluation as most of the business I know find it easier and more convenient.
And since Automatic Revaluation is no longer the default setup of Manager, I had a client contact me thinking the program is broken because it is not showing cost data after entering purchase invoices!. This will indeed make manager less marketable in the long run especially for new and foreign users.
Not sure what you label “foreign” because manager is used in many countries across the world.
I mean any language foreign to the language we are speaking right now. The main language of the program and the forum.
You used the terms foreign users not foreign language.
Yeah my bad…
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+1 this. In my country from education to daily company operation perpetual inventory costing is still the most popular. I have to admit that I run a little shop and use periodic calculation myself because lack of time and manpower but middle-big business always want perpetual especially when using software.