Review Inventory Cost Accounting

Review Inventory Cost Accounting

When closing a period, you must run the costing accounting process for the period close. To complete this task, ensure that there are no costing items to be corrected and that inventory costing calculations are not already currently running.

To open this task on the checklist, you must have already completed the Review Negative Inventory task.

To review inventory cost accounting:

1. Go to Setup > Accounting > Manage G/L > Manage Accounting Periods.
2. Click the Checklist icon  for a period.
3. Click the Go To Task arrow icon next to Review Inventory Cost Accounting.
4. Click Review Inventory Cost Accounting. (To run inventory costing calculations, there must be no items on the Review Inventory Cost Accounting page in the list of outstanding items to be corrected. If any items show on the list, you must wait until they are resolved. If an item on the list cannot be resolved, you are prompted to contact customer support.)
5. After the inventory costing calculations have finished running, click Mark Task Complete.