Dynamics GP Change Valuation Method

February 11 | By Tracey Brinkman

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Dynamics GP Change Valuation Method

Use the Change Valuation Method window to change the valuation method for a range of items, descriptions, generic descriptions or item classes. Only unallocated items that have Sales Inventory or Discontinued item types can be updated.

Dynamics GP Changing valuation methods

You can change the valuation method used for a single item or for a group of items only when the item or items aren’t on an unposted transaction.

NOTE: You should use the Change Valuation Method window only when you want to correct an item record that was set up with the wrong valuation method. If you want to change valuation methods for other reasons, we recommend that you consult your tax adviser, because changing valuation methods has legal restrictions in some areas.

NOTE: If you change the valuation method for an item and then generate the historical stock status report, be aware that reports for dates that precede the change might not be accurate because of how costs are calculated for the report.

Steps to change valuation method:

To change valuation methods:

  1. Open the Change Valuation Method window.

Inventory | Utilities | Change Valuation

  1. Select a new valuation method.

Select the new valuation method to use for the items you’re changing. You can select any of the five valuation methods, regardless of the valuation method you’re using now, or the valuation method to use in the future.

NOTE: If you’re changing to the average perpetual valuation method, the current cost of each item in the selected range will be averaged. If you’re changing from the average perpetual valuation method to another method, the current cost will be updated to reflect the most recent receipt for the items.

  1. Enter or select the range of items you want to change. You can select items by specifying a range of item numbers, descriptions, generic descriptions, and class IDs. You can set as many of the ranges as needed. If you enter more than one range restriction, Microsoft Dynamics GP changes the valuation method only for the items that meet all the selected criteria.
You can change valuation methods only for those Sales Inventory or Discontinued items that aren’t on an unposted transaction.
  1. You can choose File >> Print to generate the Valuation Method Change Audit report to verify the ranges prior to processing the changes.
  2. Choose Process to update the selected item records.

The Valuation Methods Change Audit Report is printed for the updated range.

Valuation Method Change Audit Report

The Valuation Method Change Audit Report displays the items affected when you change the valuation method.

This report is printed automatically when the item records are updated. This can be used as an audit for your tax adviser to confirm the change in valuation methods.

This report includes the previous valuation method and the new valuation method that will be used for all items common to the ranges you’ve entered.

You can print the Valuation Method Change Audit Report before completing the procedure by choosing File >> Print while you’re working in the Change Valuation Method window. After reviewing the Valuation Method Change Audit Report, choose Process in the Change Valuation Method window. This report will be printed again automatically.

Example:

Below is an example of the Valuation Method Change Audit Report. The report will include an explanation for any items that could not be changed to the new Valuation Method. For example, Item 256 SDRAM exists on an open Sales Order. As a result, it could not be updated.

Data for this article comes from Help Text with Screenshots.

Contact us if you have questions regarding Dynamics GP Change Valuation Method at: support@isolutionspartners.com.

Also, see our previous article: Dynamics GP Cost Valuation Methods at https://www.isolutionspartners.com/2020/02/11/dynamics-gp-cost-valuation-methods/
To view our previous articles, go to: https://www.isolutionspartners.com/articles/