With CKL’s Costing Method add-on for Microsoft Dynamics 365 Business Central, you can easily and comprehensibly change the costing method for your items.
When you post item movements to Microsoft Dynamics 365 Business Central, the information is firmly anchored in the costing method, base unit code and item tracking code. This is practical if you make no mistakes when creating the item. Yet if the setup is incorrect, cost and stock values cannot be properly displayed and the serial numbers cannot be used. Moreover, this will result in errors in the conversion of units. These situations are mainly due to user errors. But other reasons may also require changes to the item information. These include legal reasons, compliance with International Accounting Standards and changes in procurement.
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The Costing Method module allows you to make these changes easily, and later to keep track of when which corrections were made. This way, you can fix errors without any complications and understand all actions in the long term.
Costing Method offers you these benefits:
- Change the costing method while maintaining cost information
- Transparency through the costing method entries
- Changes are made by way of a proposal
- Feature fills the proposal automatically
- Manual filling of the proposal also possible
- Determination of new fixed standard costs is made possible
- Fast, comprehensive change of costing methods through batch processing
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Subsequent conversion of the costing method
Was the wrong costing method chosen when the item was created? Do you want to convert your products to third-party production and need to change the costing method flexibly? With Costing Method, you can subsequently change the costing method upon which valuation is based.
Changing the ‘fixed’ unit cost and changing the ‘serial number range’
Do you want to set a new ‘fixed’ unit cost due to organisational requirements and change the batches or lot number groups even though they still have stocks with the old information? Adjust your inventory – quick and easy.
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Costing Method | add-on for your business
The costing method, base unit code, and item tracking code are central to Microsoft Dynamics 365 Business Central and are firmly anchored in item/value entries and receipts as item movements are posted.
Incorrectly set up items can result in:
- Costs and stock values not being displayed correctly
- The use of serial numbers/batches no longer being possible
- Item units not being able to be converted correctly or orders being executed with the wrong units
- However, situations repeatedly arise in which it becomes necessary to modify the fields of one or several items.
- User errors: During setup of an item, a user accidentally chooses the wrong value for the costing method, base unit code, or item tracking code.
- Legal reasons: If compliance with International Accounting Standards (IAS) is sought, this can require a change in costing methods. For example, IAS does not permit use of the LIFO costing method; as a result of this, companies may be forced to change the costing method chosen.
- Change in procurement: An item that used to be manufactured by the company itself (e.g. with the standard costing method) is to be purchased in the future. This can require adjustment to a costing method more suitable to purchases.
- It the future, an item is to be purchased with serial numbers instead of the original batch numbers
- It has subsequently emerged that an item needs to be put in the system in a different base unit, so that conversions can be carried out correctly in purchasing and sales.
Costing Method was developed directly in Microsoft Dynamics 365 Business Central to flexibly and easily define the fields of your items after the initial setup.