Item revaluation is typically used when you have the need to adjust the cost price that is used to calculate your inventory value. It can be done for a single batch of stock or for the total qty. on hand for a specific item.
Tag Archives: Revaluation
Posting Groups #8 – Revaluation Posting
In my last post, I have touched Revaluation process, but only for Standard cost changing. We can use Revaluation for other cases, as well.
If we change cost only for items on stock, it will be the same situation as on previous example. But, if we want to change cost for already sold or consumed stock, it will be with some differences.
Revaluation Journals & Reclassification journals
This journal can be used for changing the inventory value of items, for example after a physical inventory.
The revaluation journal lets you see the existing value of an item and assign a new value to it.