Has anyone tried to migrate from Average Cost over to Standard Cost? Is the only option to re-create all item record with the new Costing Method?

Yes. We hate standard costing. Why would you change your costing method?

We were purchased by another company and they are used to and have always used a standard costing model. Right now we have average cost, so the new accounting team wants to switch How did you make the switch? Why do you not like standard cost?

Look into the requirements of standard cost (Cost Plans, revaluing inventory etc.). There is a fair amount of maintenance that exists when using standard cost compared to Average. Anyone I have seen make the switch is due to the effort required by the finance team, and just having a couple people who understand the full process is a challenge vs. the value you get on reporting with standard cost. If your items are already configured with a different costing method you will need to recreate with all of the item records, sounds worse than it actually is - Export full item list, inactivate and rename old items, reimport with correct costing method

there is no option to change costing method other than to recreate items. I would do my homework on standard cost items before I made the big switch. This is the perfect example of where a sandbox is very useful.

Ok. That’s what I figured I’d have to do but just wanted to confirm. I’m not too worried about the actual switch. We have 100k+ SKUs but through a few imports I can get the switch made The bigger issue is historical data. We’d have no purchase history on our items Also yes I am worried about the management of the Std Cost system but I think they are prepared/expecting a lot of management

You can add a field that references the replaced item. Then you could build out custom reports to show history from the old item on the new item. I would look at required reports before I set out to be sure all reports would work. I’ve not done this, but have always felt it might work.