Inventory Zero Out Costs Routine
Overview
Once in a while, you might have Items with the following issues:
Zero Qty. Base on Hand, but Non-Zero Inventory Value.
Negative or inaccurate Unit Cost.
These issues could be caused by rounding or a few bad transactions. You can use the Inventory Resync routine to correct them.
Procedures
First, navigate to the Items list → xZero Out Costs view to see how many items are having these issues. You can try to look into Item Ledger Entries for these items to look for patterns and root causes. This view contains these filters:
Qty. Base on Hand = 0
Expected Cost = 0
Inventory Value != 0
If you want to correct inventory costs for items with Non-Zero Qty. on Hand, you must zero out inventory for them first. Run a report for these items to note the current Inventory Quantities based on Warehouse, Bin, Unit of Measure, and Lot or Serial Numbers. Then, use the Item Adjustment Journals to zero out inventory.
If you want to correct inventory costs for items with Zero Qty. Base on Hand, but Non-Zero Expected Cost, you must invoice Purchase Orders Received Not Invoiced, or Work Orders Output but Not Costed transactions.
Before you run the Zero Out Costs routine, you must run the Adjust Cost Batch Routine by navigating to Administration → Inventory. This routine will adjust inventory costs based on the latest invoicing information.
Then, navigate to the Inventory Resync tab. Click the Zero Out Costs view.
Click Calculate Zero Out Cost Entries.
If you want to zero out the inventory cost for a specific item, enter the Item field on the confirmation page or leave the Item field blank on the page. GoldFinch will try to calculate Inventory Resync entries for the first 500 items that meet the criteria.
If you have a lot of Item Ledger Entries in your instance and run into Salesforce Governor’s Limit, you can specify a smaller size by navigating to Custom Setting → System Setting. Create a parameter for ZeroOutRoutineSize and specify a value that is less than 500.
GoldFinch calculates the Zero Out Cost entries based on Item and Warehouse and inserts them into the Inventory Resync table.
Select entries that you want to post. Click Post Zero Out Cost Entries. GoldFinch will insert additional Cost Entries with 0 quantities, but non-zero invoice costs for the items to fix the inventory cost.
Navigate to Administration → Inventory, then Run Adjust Cost Batch Routine again to create GL Entries for the newly created Cost Entries.
Suppose you zero out inventory for any items in the beginning. In that case, you must use the Item Adjustment Journal to post back inventory for them by Warehouse, Bins, Unit of Measure, and Lot/Serial Numbers, using the most up-to-date Unit Cost for the items.
Navigate to the Items list → xZero Out Costs view. You should see 0 items on the list.
