Valuation price null not authorized

In Sage X3, we recently faced an issue while processing a purchase order/Miscellaneous Receipt, “Valuation price null not authorized” which prevented the user from creating a purchase order. On debugging we found that this message can occur when the Valuation method found in the Common data->Products-> Product-site-> Cost is Standard cost, but it does not have a standard cost record established in Common data-> Products-> Products-costs-> Standard cost and Allow Null Cost is unticked.

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Fig 1. Valuation price null not authorized

To create a Standard Cost for the product you can access the Standard cost within the Product-site right panel or you can access the standard cost in Common data-> Products-> Products-costs.

Fig 2. Standard Cost

After creating Standard Cost, in Stock -> Valuation Method click on the finder button next to Method.

Fig 3. Valuation method

Tick on the allow null cost checkbox.

Fig 4. Valuation method Allow Null Cost

So, by following the above mentioned steps, we can solve the error – “Valuation price null not authorized”.