COGS Adjustments for Closed Periods
- List Cost of Goods Sold Adjustments
- Get Cost of Goods Sold Adjustment
- Create Cost of Goods Sold Adjustment
- Delete Cost of Goods Sold Adjustment
Landed costs and other inventory operations, such as changing an item’s standard cost, can affect the cost of goods sold (COGS) in closed periods. Consider the following examples:
- You add/modify landed costs for an item and want the changes to apply for purchase orders in closed periods.
- You change the standard cost of an item and use the Maintain Inventory Valuation tool to adjust the unit cost in the inventory subledger for closed periods.
In both scenarios, the inventory subledger is correctly updated, but the general ledger is not. You can balance out such discrepancies using
COGSCLOSEDJE to apply adjustments to the general ledger in an open period.
You must define the journal to use for closed period COGS adjustments in your Inventory Control configuration. It is considered a best practice to use a separate journal for adjustments for audit purposes. You also need to create the necessary permissions for posting closed period COGS adjustments.
List Cost of Goods Sold Adjustments
|fields||Optional||string||Comma-separated list of fields on the object to list. For best performance and predictability, limit the number of fields. To return all fields, omit the element or provide |
|query||Required||string||SQL-like query based on fields on the |
|pagesize||Optional||integer||Custom page size between |
|NEEDSADJUSTMENT||Optional||string||Needs adjustment. Use |
The above function returns data structured like this:
The same function returns data structured like this if
NEEDSADJUSTMENTis set to false:
|RECORDNO||string||Record number of the sales line item|
|ASOFDATE||string||As of date for the sales transaction|
|LOCATION||string||Location ID of warehouse (for multi-entity/multi-currency company)|
|DOCUMENTNAME||string||Sales order full document name|
|CURRENTCOST||number||Current cost of the line|
|CURRENTGLCOGS||number||Current GL journal post amount|
|DIFFERENCE||number||Difference between current cost of the line and current GL journal post|
|CREATEDON||string||GL post date of a previously applied COGS adjustment|
|COST||number||Amount of the previously applied adjustment|
|FIXUNIQUEID||string||Unique ID of the adjustment|
Get Cost of Goods Sold Adjustment
|fields||Optional||string||Comma-separated list of fields on the object to get. For best performance and predictability, limit the number of fields. To return all fields, omit the element or provide |
Create Cost of Goods Sold Adjustment
Applies the specified adjustments to the configured GL journal for closed period COGS adjustments. The generated GL journal entries cannot be adjusted, but they can be rolled back by deleting the cost of goods sold adjustment.
|COGSClosedJE||Required||object||Object to create|
|RECORDNO||Required||string||Record number of the cost of goods sold adjustment to apply|
|POSTINGDATE||Optional||string||Posting date in format |
Delete Cost of Goods Sold Adjustment
When you delete a cost of goods sold adjustment, the adjusting GL journal entry is rolled back and the
COGSCLOSEDJE entry with the given key becomes available as a potential adjustment again.
Deletes the adjustment with the given unique identifier:
|keys||Required||string||Unique identifier for the fix ( |