In Sage X3 sometimes after receiving a product a cost you might require to modify the cost of the item. After receiving a product you cannot directly change the average cost of a product but there is a function in X3 that will allow you to change the average cost of a product after receiving it. This function is called “Value change”. The value change utility is available in the Stock menu under Utilities and Valuations. By using the “Value change” function you can modify the average cost of a product after receiving based on a specific date. This function allows us to change the average costs for the lots.
If there is no stock for a certain product or for a product at a certain site then value change cannot be created. In other words, a value change cannot be processed on a null stock.
If a product has a standard cost with a standard cost valuation method then the value change cannot be processed.
If we do not want to post the value change to the general ledger we can leave the auto journal code blank.
To create a Value change, navigate to the below path.
ALL<<Stock<<Utilities<<Valuation<<Value change
On the value change screen, you can enter the product and for which you want to process the value change. If you enter a product that has null stock an error message will pop up and it will not allow you to continue. Also, you will be required to fill in other mandatory fields.
As you can see in the above screenshot the value change processing will be based on FIFO(first in first out) basis.
When modifying the moving average price, the FIFO tiers and lots will be updated with the new value. However, if the Distribution is set to No, only the moving average price will be modified. If the distribution is set to Value, this will increase the amount of each FIFO tier or lot so the global amount is increased by a certain amount say A%. If the Distribution is set to Quantity, the increase of the FIFO tier or lot is prorated based on the quantity of each tier/lot so the global amount is increased by A%.
Navigate to Stock transactions through below path,
Stock<< Inquiries<< Movements<< Stock transactions.
The value change movement updates can be found in Stock, Inquiries, Movements, Stock transactions. Clicking the Criteria button and checking the Value change box under the Movements block will display the results.
The Stock transactions inquiry will show the movement type as a Value change, the Entry type and Entry number, the movement value and variance, the Accounting document number and other information as well.
Therefore, with the above steps using Value change we can change the cost of a product after receiving.