Pastel Adjusting the Average Cost of an Inventory Item
Pastel maintains a moving average cost price for each inventory item, which it re-calculates whenever you increase quantities. When you decrease quantities, items always move out at the average cost.
You may need to adjust the average cost of an item without adjusting the quantities. You would need to do this, for example, if you entered an incorrect purchase price, or you purchased an item into the incorrect inventory code.
The safest method to accomplish this would be to reverse the original supplier invoice, and then re-capture it at the correct price. However, there are cases where this may not be practical. You could then use the Process…Inventory Journals menu option to adjust the average price. You have two ways to accomplish this:
Correct the Last Purchase
· Enter a journal line that removes the quantity last purchased. This will occur at the average cost
· Enter another line that puts back the quantity, at the price it should have been invoiced at. Enter that price in the Unit Cost field
Calculate and Enter a Revised Average Cost
· Calculate what the average cost of the item should be
· Enter a journal line that removes the full quantity on hand of the item. This will occur at the current average cost
· Enter another line that puts back the full quantity. Enter the correct unit average cost in the Unit Cost field