Re: Need to update material cost from purchase price

Hi Lee

What costing method are you using? If you were using latest/FIFO cost, this 
would happen, as the £ costs are created at time of purchase/receipt.

If you would like, I can call privately to discuss in more detail.

Regards

Simon Sherwood
----- Original Message ----- 
From: "Lee Greenwood" <[email protected]>
To: <system21-Zwy7GipZuJhWk0Htik3J/[email protected]>
Sent: Tuesday, May 06, 2008 10:34 AM
Subject: [SYSTEM21] Need to update material cost from purchase price


Hi,



We are a UK based company but most of the items we purchase are from the US 
in US$. The accounts department report in GBP £ which never used to be a 
problem as they had an exchange rate setup for the entire year. Now they 
have started to adjust the exchange rate at the beginning of each month 
which is distorting the stock value. What I would like to know is, is there 
anyway of forcing the system to change the material cost fields for all 
parts in a stockroom based on the current $ purchase price / current 
exchange rate. As we use landed costs these will also need to be added to 
the material cost to give the current standard cost.



I could write a program to do all this, but I would have thought it was 
already possible.



Any help would be appreciated. Thanks.



Lee Greenwood

IT Manager - Titan Europe Plc


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