Use this screen to enter adjustments to costs for inventory parts for a specific inventory project. This cost adjustment creates an inventory transaction that is posted to the General Ledger. The cost adjustment updates the unit cost of the item in the Maintain Project Item Cost screen in Costpoint Product Definition for those cost methods that are used for the specified project as the inventory valuation method.
Cost amount fields for each cost element will represent the new cost at which the inventory is supposed to be valued. If average actual is being used, the "new" cost entered will be the average cost.
Cost adjustments can be inserted only in this screen. However, you can view cost adjustments in the Inventory Transaction History Inquiry screen. If Cost Suppression is in effect (the Suppress Cost checkbox is selected in the table window of the Maintain Users screen in Costpoint System Administration), you will not be able to enter information in this screen. When you select the Do Not Post Adjustment to General Ledger checkbox in this screen, all fields in the Adjustment Charge Numbers group box are disabled, and the cost adjustment transaction can be posted only through SQLTalk.
Use this screen whenever adjustments to costs (not quantities) of inventory parts are required.
The system automatically assigns the next cost adjustment ID. After you have successfully saved a cost adjustment, the system displays the following message: "The ID of the transaction just saved is [ID]."
The system date is displayed as the default transaction date, or you can enter another date. This field is required.
Enter, or use Lookup to select, the adjuster who is performing this transaction. A valid employee ID is required.
If you entered a value in the Approval Amount Threshold field in the Inventory Settings screen, and the total adjustment amount is equal to or greater than the approval amount, you must enter, or use Lookup to select, the approver for this transaction. If you do not enter an approver ID, the transaction will be flagged as an unapproved adjustment when posted.
If a dollar approval amount has been entered in the Approval Amount Threshold field in the Inventory Settings screen, and the Total Adj Amt field in this screen is equal to or greater than the approval amount, the system will ask you to enter the approval password (assigned in the Local Approval Password field in the Inventory Settings screen) to perform this transaction. You do not need to make an entry in this field to save the transaction, but the transaction will be flagged as unapproved when the Inventory Journal is posted.
Enter, or use Lookup to select, the inventory abbreviation to be adjusted. This field is required.
The project and project abbreviation associated with the selected inventory abbreviation are displayed.
Enter, or use Lookup to select, the part ID to be adjusted. The description of the part selected is displayed below this field.
This field displays the last revision assigned to the part ID. However, you can enter, or use Lookup to select, another revision that exists for this part ID.
This field displays the part inventory unit of measure.
Use the fields in this group box to select a project/account/organization combination, an account/organization, or an inventory abbreviation to charge to for this cost adjustment.
Enter, or use Lookup to select, the project ID or project abbreviation to be charged for this adjustment. The project must be active. This field is optional.
Enter, or use Lookup to select, the account to be charged for this adjustment. The account must be active. If you entered a project in the Project field, the account must be valid for that project. If you did not enter a project, the account must be a non-project account. The account should be an expense or non-inventory asset account.
Enter, or use Lookup to select, the organization to be charged for this adjustment. The organization must be active and a valid account/organization combination.
Enter, or use Lookup to select, the inventory abbreviation ID to be charged for this adjustment. This inventory abbreviation must be an account type of "E" (Expense) or "G" (Government-furnished material). The project assigned to this inventory abbreviation is displayed.
Select this checkbox to prevent the dollar adjustment from being posted to the General Ledger.
This field displays the unit cost for the part. You can update the unit cost in the Cost Elements subtask.
This non-editable field displays the unit cost adjustment, which is the difference between the original total unit cost and the new total unit cost.
This field displays the inventory quantity affected by this cost adjustment.
This non-editable field displays the total extended cost adjustment, which is calculated by multiplying the Unit Cost Adj amount by the Qty Impacted.
Select this pushbutton to enter text regarding the transaction.
Select this pushbutton to enter reference numbers associated with the transaction.
Use this pushbutton to view the accounting period to which the transaction will be posted according to the transaction date.
Use this pushbutton to record or view inventory cost element information for a selected transaction line.
Changes to this screen update the INVT_TRN and INVT_TRN_LN tables. This screen also relies on the settings in the INVT_SETTINGS table. Information for cost adjustments is also stored in and/or pulled from the following tables, as indicated for the applicable subtasks in this screen: EMPL, INVT, INVT_ABBRV_CD, INVT_WHSE_LOC, ITEM, PROJ_EDIT, REF_STRUC, SEQ_GENERATOR.