How system fetch Most Recent Cost of particular Item in Sage 300?

By | July 24, 2018

Use the I/C Items screen to:

  • Add new items, and change or delete existing item records.
  • Select the item structure and enter segment information for a new item number.

Use the I/C Item Pricing screen to:

  • Assign items to price lists.
  • Specify and edit item pricing information for each price list. If you have Sage 300 Premium ERP, you can also:
  • Price volume discounts by quantity or weight.
  • Enter one or more base prices for multiple units of measure.
  • Calculate the base price using the cost plus a percentage or amount.

Today in this blog we will discuss how do standard functionality work if Transaction and Functional both currencies are different
Let’s take a simple example to understand this scenario
Now we are going to create PO Receipt Entry with below detail

After filling all the detail in the grid you can see as above Unit price gets updated automatically and we have set Default unit cost is “Most recent cost”
Now let’s see Most recent cost from IC Location details screen for the same details

How are both Amount different?
If we can see both currencies, it means that the transaction and functional currencies are different and that’s the reason why Rate tab gets enable in PO receipt screen (Refer above PO Receipt screen)
The logic for the Unit cost?
We have mentioned Rate if functional currencies differ than transaction currencies which is 1.3668000 (Rate) * 21.369622 (Po Receipt unit cost )= 29.20799935 (same amount from IC location details screen
About us:-
Greytrix is a one-stop solution provider for Sage ERP and Sage CRM needs. We provide complete end-to-end assistance for your technical consultations, product customizations, data migration, system integrations, third-party add-on development and implementation expertise.
Greytrix caters to a wide range of Sage Business Cloud Solutions such as Sage Enterprise Management (Sage X3), Sage Financials (Sage Live), Sage Intacct and Sage Accounting (Sage One). Our unique GUMU™ integrations include Sage Intacct with Sage CRM | Salesforce, Sage Enterprise Management with Sage CRM | Salesforce.com and Magento eCommerce. We are migration specialists for Sage Intacct and Sage Enterprise Management from Sage 50 US, Sage Pro, Sage 100, Sage 300 and QuickBooks. We also offer best-in-class Consulting, Implementation and Technical Support for Sage Enterprise Management, Sage Intacct and Sage Financials. We have developed applications integrations for Sage Enterprise Management, Sage Intacct and Sage Financials to Sage business partners, resellers and Sage PSG worldwide.
For more information on Sage Business Cloud Solutions, please contact us at [email protected]. We will be glad to assist you.