In many industries when finished goods are produced, it takes all the production cost such as raw material cost, labor cost, machinery cost etc.
However, over the time this cost varies if a product is not sold on time and is just lying around the warehouse. Then mostly the product cost is revised as per the market and product conditions. Also, these products can be in any location or any site in the system.
Here, Sage X3 allows changing the value of the products from the Utility, Value change
1. Navigate: Stock >> Utilities >> Valuation >> Value change
2. Here we have selected a product which is LOT managed and valuation method is Average LOT cost.
3. You can alternatively change the standard cost of the product to change the individual LOT value.
4. Note that the distribution should be selected as quantity to reflect the updated price.
5. So you can either LOT value directly or enter average cost as desired.
6. Then click on OK
7. Now you can see that the average cost of this product is changed from previous 8.81 to 8.71
8. Now run the stock accounting interface and the Value will get updated by hitting the journal of price variance.
9. The log will be generated and journal entry can be seen in Journal transactions.
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