Standard Cost: There are multiple ways for stock valuation like FIFO, LIFO, Weighted Average, Moving Weighted Average, Last Purchase Rate and standard Cost.
A fixed rate, called as Standard Cost is used for Stock valuation whenever the user chooses to specify a fixed rate for each item as arrived by herself externally.
This can be done in just 3 easy steps
Step1: Standard settings configuration
Step2: Specifying the Standard cost
Step3: Stock Valuation with Standard Cost.
Step1:
Click Costing Module>Masters>Cost Analysis
Under Cost Analysis Tab
- Create Code e.g., STDCOST
- Create Name e.g., Standard Costing
- Select Type as Standard
- Select the dates e.g., 01Apr2017-31Mar2018
- Fill the Standard check box for the fields- Rate type, Material, Process, Resource
- Click save
Step2:
Costing >Masters>Product cost Estimate
Under Product Cost estimate
- Select cost analysis as Standard costing
- Click Add Row
- Select the Item, SKU e.g., Disel
- Enter the Rate
- Click Save
Step3
- Click Stores Module >Reports>Stock position> Detail>Item
- Item-wise Stock Position opens up
- Click the Filter icon on the Right
Filter for item-wise Stock-position details opens up
- Select Cost type as Standard
- Click Report tab
- Selct Report format as Stock position Detail with Qty and Value
- Click Apply
Stock value with standard cost is displayed
In the Reports Screen , select Pdf under settings to get your report.
Revisions
- August 23, 2017 @ 09:52:09 [Current Revision] by editor
- August 22, 2017 @ 04:53:40 by arul
- August 22, 2017 @ 04:52:05 [Autosave] by arul
- August 18, 2017 @ 04:25:42 by arul
- August 17, 2017 @ 13:06:55 by arul
- August 17, 2017 @ 11:47:40 by arul
- August 17, 2017 @ 11:22:54 by arul
- August 17, 2017 @ 11:17:33 by arul
- August 17, 2017 @ 10:17:11 by arul
- August 17, 2017 @ 10:13:57 by arul
- August 17, 2017 @ 10:10:55 by arul
- August 17, 2017 @ 10:07:08 by arul