Correct Daily Close Cost Errors

Back Office Menu -> Daily Close Menu -> Daily Close Errors -> Correct Daily Close Cost Errors

This option is to be used when product cost errors are found in Daily Close 2.

The invoice details for product posting errors caused by sale parts with zero costs, can be viewed in Daily Close 2 Error Log.
The error message on the Error Log report and on the screen would be:

Reference  Error Message
---------  -------------
D00001     COST OF 0 FOR PRODUCT #  1553-345A   NOT ALLOWED

At the time the invoice is created, the cost (average cost) of the sales item is stored on the invoice. If the cost is zero, the Daily Close #2 will stop any invoice which is selling this product from posting and print the error message that a zero cost is not allowed.
Items which have Cost Type + (Zero Cost) and Cost Type % (Auto Calculate cost as a percentage of selling price) will NOT cause this error.
Disposals of Rental equipment for zero cost will NOT cause this error.

The "D" in the Reference D00001 indicates that the error is in an Invoice Detail. The number which follows the "D" indicates which detail line caused the error, i.e. 00003 indicates the third product on the invoice.
To solve this error in CORRECT DAILY CLOSE COST ERRORS. The prompts are:

INVOICE #

Note the Invoice # with the cost error on the Error Log Report, and enter it here, or select the invoice from the window.
The item which caused the errors will display, including the Product #, description, and any cost type.

COST

In the cost field, enter the cost EACH for this product.

COST DISCREPANCY Confirmation Screen

If the product quantity is also zero a window opens stating that the cost of the sales part is currently zero in product file, and providing the opportunity to update the product average cost in Sales Inventory.

Click NO to leave the product average cost at zero in the product file. No Over-shipped Cost Adjustment transactions will be generated in Post A/P Invoices when the new quantity of this sale part is received and invoiced.

Click YES to update the product average cost in the product file. Then later when the sale part is received and invoiced, if the new purchase price of the sales part is different, Over-shipped Cost Adjustment transactions will still be generated in Post A/P Invoices.

COST ADJUSTMENT: If the cost is to be updated in the product file, the date of the cost adjustment can be entered. This defaults to today's date.

Finished?

Click the ACCEPT button at the bottom of the screen to return to the Invoice # prompt to enter the next invoice.
Click CANCEL to exit.

Topic Keyword: RSID02

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