Happy Holidays Y'all. Quick transactional COGS question. We had a bad purchase price (rate) on a PO that was received in full. In addition we have shipped some goods out on IF. We would like to correct the inventory amount so our average cost is correct. I can see in the UI and fix the rate in the IR, but what is the standard process to update the IF in NetSuite? I don't see that field available via the UI to update.

This will occur naturally once you correct the rate on the PO and IR. The costing engine should run later that night then have the updated IF cost by the next morning.

Just adding, if your period is closed you can do a Adjustment Worksheet at first day of your current period so it will fix all your shipments after that

@Rich Keller Thanks. First I have heard of this costing engine. Where can I go to see the settings/schedule for when this runs and completes?

Setup > Accounting > Inventory Costing Preferences

Thank you sir!

Depending on your service tier and number of transactions, I typically recommend running it after hours