Standard costing was previously the go-to costing method for manufacturing, but there can be many other uses for standard costing both in manufacturing and in the other modules. You could say that standard costing can be used in companies delivering items that fluctuate in cost – not far of the description of companies using average costing.
Some time ago I talked about the possibility of managing different bills of materials depending on the item variant. The functionality, introduced more than a year ago, consists in the possibility of associating the bill of materials (and also the cycle) on the stockkeeping unit rather than on the item, as shown in the figure below.
In Standard API for Dynamics 365 Business Central SaaS (Get, Post, Patch, Delete and Basic query parameters – filter, orderby, select…), we discussed four basic operations (Read, Create, , Update, Delete) in the APIs. If we need to call custom code or specific actions like posting a sales order, we need to use Bound Actions.
Today I would like to talk about the Standard Journals functionality in Business Central.
This is a very handy functionality, when you have created journal lines which you know you are likely to create again later, you can save them as a standard journal before you post the journal. This functionality applies to item journals and general journals.
In Microsoft Dynamics 365 Business Central or Dynamics NAV, typical processes for updating the standard cost for a purchased item are as follows:
– For a new purchased item, the standard cost can be updated on the Item Card.
– For a purchased item that already has ledger entries, the revaluation journal is used to populate the entries and re-value the cost.
– For a manufactured item, the Standard Cost Worksheet is used.