RMS - Great Plains stock valuation questions

Posted by Shaun on April 7, 2008, 1:48 pm

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We are going to integrate RMS into Great Plains and i am not sure how Great
Plains values stock in the following instances:
1. group level stock values
2. store level stock values
3. inter store transfers (Is the value at group transfer control a/c at
store or group ave cost)
4. returns to suppliers from store
5. returns to suppliers from HQ
6. store stock take adjustments (Is the adjustment value - at store or group
ave cost)

Any clarification on the above would really be helpful.
thanks

Posted by Akber Alwani on April 9, 2008, 2:28 am

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hi Shaun,
1. when you say the group level stock valuation, it is not the case yes it
applies once you create the item in GP and assigned to it class then all the
defaults it take from item class, like valuation so it is item to item bases
plus item class base but it is just a template for an item.
2. regarding the store level work depends what have you have setuped you are
are using FIFO, LIFO or average . I would say it global. in RMS you can have
item with different prices and cost at the store level but once it come to GP
it is company wide you can not monitor 3 different costs in one single item.
however it does maintain this and calcuate the cost again depend what method
you have used.
3. inter store transfer i mentioned the asnwer in previous post.
4. yes you can do the return to supplier but needs to integer as purchase
return in GP which is not ture (as GP has already this feature but RMS not,
it does consider it inventory adjustment, we do the same way and then change
the financial accounts at the inventory level for the effect or you can once
post the adjustment from RMS to GP delete there and then create PO return in
GP.
5. return to supplier from HQ again inventory adjustment consideration.
6. you can perform inventory adjustment at anytime anywhere doesn't matter
what store, cost price will depends on the valuation method you choose.

Akber Alwani

"Shaun" wrote:

> We are going to integrate RMS into Great Plains and i am not sure how Great

> Plains values stock in the following instances:

> 1. group level stock values

> 2. store level stock values

> 3. inter store transfers (Is the value at group transfer control a/c at

> store or group ave cost)

> 4. returns to suppliers from store

> 5. returns to suppliers from HQ

> 6. store stock take adjustments (Is the adjustment value - at store or group

> ave cost)

> Any clarification on the above would really be helpful.

> thanks