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Reversing a Shipment Costing
  • COBS Tech Support
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    Joined:Fri Sep 09, 2005 8:23 am
    Reversing a Shipment Costing

    by COBS Tech Support » Tue Nov 19, 2019 10:42 am

    If a shipment costing has been fully processed and delivered into stock in error, the following steps explain how to reverse the process and start over.

    1. Begin by identifying all the product items that have been delivered incorrectly. The list of delivered items will be found on your Shipment Job Costing Report.

    If you don't have this report handy, open reporting, suppliers, and run the Purchase Order Job Cost Shipments report. (Suppliers-0007). Be sure to specify the shipment costing number that you are trying to reverse.

    2. Next locate the purchase order or purchase orders that contain these items. This information will be shown on either report. Open the purchase order and 'tag' the items that were costed in error.

    To 'tag' a product item, click on the Items tab and under the "T" column, tick it. A tick will appear next to the item.

    (If all the items on the purchase order need to be ticked, select from the menu Edit|Tag All instead.)

    If multiple purchase orders are involved, you will need to repeat this process for each item on each applicable purchase order in turn.

    3. Once you have tagged all the affected items, open a Stock Return. Stock returns are found directly below where you go to open purchase orders.

    Once the stock return is open, assign the applicable supplier account, and click on the Items tab. Then from the menu select Edit|Paste Tagged Stock.

    Note: the supplier account will normally be the same one as the one found on your original purchase order.

    All the items you had previously tagged will now be on your purchase order. You may be asked at this point to 'Reprice' or 'Keep Pricing'. It's probably easiest to click on 'Keep Pricing'.

    4. The next step is to adjust your pasted stock. Review your costing report and change the cost price of each item to reflect what it was put into stock as. For example, if the New Stock Cost on the report was $99 for a particular item, it's important that you change the 'Cost' column to $99 also. This is because we want to take out of stock the same value we incorrectly put into stock.

    The other important thing to confirm, is that you are returning the same quantity you put into stock. So check your 'Qty' column and make sure it agrees with your costing report for each stock item. This is also because we want to take out the exact same quantity we put in, incorrectly.

    5. Once these checks have been done, save your Stock Return. If you go back into inventory you will now see that the original quantities of stock are back in stock, at their original (earlier) costs, before you processed the shipment.

    6. At this point, now simply do the shipment costing again. You will need a new purchase order or purchase orders(s) as you already delivered those items on those earlier orders.

    The quickest way to do this is to open your Stock Return, just as you did in step 3, and select from the menu Edit|Tag All. Then open a new purchase order and select from the menu Edit|Paste Tagged Stock. Save this new purchase order.

    Finally, use this newly created purchase order to redo your shipment costing.

    7. After the shipment has been costed correctly, open your applicable supplier accounts and review all the recently created transactions. You may need to either credit or delete the earlier supplier invoices you created, when the shipment costing was done incorrectly. If you are deleting supplier invoices, don't forget to also delete the supplier invoice related to your stock return, as it will no longer be applicable.
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