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This page allows you to modify information related to the rate or value of items. You can specify the item code and variant code of the item for which you wish to view the rate details. You can modify the rate or value for the quantity of the item only if the costing method is Weighted Average, LFL, LIFO or FIFO.
You can modify the quantity, rate and value for the quantity of item in a given lot. You can modify the rate or value only if atleast one of the stock statuses given in the main page is “Valuated” . This page is launched only if the costing method of atleast one of the items in the main page is not standard cost.
Select the “Rate Information” link at the bottom of the “Edit Opening Balance” page
The “Rate Information” page appears.
The system displays the following:
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Status |
The status of the opening balance transaction. |
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Transaction No. |
The unique number identifying the opening balance transaction. |
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Transaction Date |
The date on which the transaction took place. |
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Warehouse Code |
The unique code of the warehouse. |
Enter the following:
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Item Code |
Use the drop-down list box to select the unique code identifying the item . The item codes of all items whose costing method is not Standard Cost and for which at least one” Valuated” stock status is given will be displayed here. The system displays the first value in the list of item codes by default. |
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Variant Code |
Use the drop-down list box to select the variant code of the selected item. All the variant codes applicable for the item and specified in the main page will be displayed here. The system displays the first variant code by default. |
The system displays the following:
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Total Qty. |
The quantity of all items in valuated stock status. |
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Item Variant Desc. |
A textual description of the item/variant. |
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Costing Method |
The valuation method used to determine the value of the stock. The system displays one of the following: |
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The system displays the following in the “Rate Information” multiline:
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Lot No. |
The unique number identifying the lot in the warehouse. The lot number is displayed only if the costing method is LFL. |
Enter the following in the “Rate Information” mutiline:
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Qty. |
The number of units of the item for which you wish to specify the rate (Integer, 29). Mandatory. Ensure that the value entered in this field is greater than zero. The sum of all the quantities in the multiline must be equal to the total quantity displayed in the header. |
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Rate |
The rate at which the item was received into the warehouse (Decimal, 28). Ensure that the value entered in this field is greater than zero. |
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Value |
The value corresponding to the quantity of item received into the warehouse (Decimal, 28). Ensure that the value entered in this field is greater than zero. |
Note: You need to enter only the rate or value of an item. If you choose to enter both the rate and value for the item quantity, the value must be equal to the product of quantity and rate. However, if you leave both the fields blank, the system displays an error message.
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Ref. Doc. No. |
The number identifying the reference document based on which the rate or value is specified (Alphanumeric, 18). |
Click the “Delete Opening Balance” pushbutton to delete the opening balance transaction.
The system sets the status of the transaction as “Deleted”. The deleted transaction cannot be viewed.
Click the “Update Rate Information” pushbutton to save the rate information for the selected item.
The system saves the rate information individually for each lot number if the costing method is LFL.
The system saves the rate information individually for each row in the multiline if the costing method is LIFO/FIFO.
The system calculates the weighted average rate by dividing the total value by total quantity and saves it if the costing method is weighted average.
Click the “Edit And Authorize Opening Balance” pushbutton to save and authorize the opening balance transaction.
The system saves the rate information for the given costing method.
The system sets the status of the opening balance transaction as “Authorized”.
