Unit Cost Override

Details:
The Unit Cost Override utility allows users to edit the current valuation (unit) cost of an item. Cost adjustments will be made to the selected inventory asset general ledger account and expenses will post to the "Unit Cost Override Utility" account selected in Accounting Defaults. This will be either the item's COGS account or the default Inventory Cost Variance account. The new cost will be reflected in the item's Cost Log as the new unit cost.

• The only requirement for using the Unit Cost Override is that quantity on hand be greater than zero for ALL stock sites associated to the inventory asset general ledger that is selected on the Unit Cost Override screen. Keep in mind that multiple stock sites can share the same inventory asset general ledger account, such as service vehicles, so verify quantity is greater than zero for all stock sites associated to the selected general ledger account.

Step by Step:
Create Unit Cost Override

1. Add navigation path to get to the Unit Cost Override (Administration > Inventory > Pricing > Unit Cost Override). Enter an item code in the Item field or click the search button to locate an item. Highlight the desired item and click, 'Select Item.' Note that Unit Cost Overrides can only be performed for Stock and Non-stock items.

2. Select an Inventory Asset Account from the drop down menu. Remember that quantity on hand must be greater than zero for all stock sites associated to the selected Inventory Asset Account. Use the table on the right to review quantity on hand for each stock sites along with the associated general ledger account for each stock site.

3. The Current Unit Cost will appear once you select the Inventory Asset Account. Enter the new unit cost in the New Unit Cost field. You can enter a higher or lower cost.

4. The Variance between the Current Unit Cost and New Unit Cost will appear along with current Valuation on hand. Evosus will display the total variance (single unit variance x total quantity on hand) in the Subtotal field. This is the amount that will post to the Inventory Asset Account and default Expense account.

5. Enter additional information about why the Unit Cost Override occurred in the Comment field. This field is optional and the text entered will display on the Data Entry Audit Log, General Ledger and Unit Cost Override History grid.

6. Click Save to record your changes.

Security Permissions Required

Posting Details Accounting

Related Reports

• Data Entry Audit Log (Administration > Reports > Executive Summary > Data Entry Audit): Detail of transactions that have occurred in Evosus by date and employee. Transactions include stock adjustments, stock transfers, AP transactions, AR transactions, lead entry, journal entries, maintenance contracts and more.