Purpose
This procedure is used to upload and update Standard Costs from a file created outside of the system. The function was added at the request of some of our Manufacturing clients who had the need to review and adjust their “Standard Costs” for their “Raw Material” items. Setting a new standard cost allows them to control and maintain a consistent cost during a production period. Having this function gives them a simple tool to upload a list of raw material products that require a standard cost adjustment.
Note: The “Standard Cost” provided is assumed to be the Unit Cost in “Stock Units” so be sure to check the “Unit of Measure” you are using when taking data from a report or from a list of products from OA or from a Supplier’s data file. For additional details on creating upload files see the note HERE.
Data Input
Step 1 – File Upload
Standard Costs Upload File
Select the spread sheet file you wish to upload, by clicking Browse. This assumes you have access to the file with the new standard costs from the browser you are currently using.
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Step 2 – Review details
The standard cost details of the spread sheet will be displayed so that you can review the data and confirm that the correct file has been uploaded before you continue.
Click Submit to submit all the details.
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Spread sheet format
The spread sheet must be in a csv format.
The first row of the spread sheet must be a heading row – it does not matter what the headings are, as long as they are meaningful to you e.g. you could have ‘Product’, ‘Product Code’ or ‘SKU’.
The columns required are:
| Column | Name | Additional Details |
| A | Price List Code | If you are using the ‘Default’ price list, then this column can be left empty, or can contain the word ‘Default’ |
| B | Product Code | Must be a valid product on the Product Master file |
| C | Size Code | Must be a valid size on the Sizes Master file Must be a valid size against the product If the product has no sizes, leave blank You may enter a * character to indicate all sizes for the product should be updated. |
| D | Standard Cost | Cost can be to 4 decimal places. |
Updating
Once you click submit, the rows on the spread sheet are validated. If no invalid data is detected, the Prices Master file is updated with the standard cost.
If there is no existing Price Master record, a new record is created.
If the existing Price Master record is flagged for standard cost, the replacement cost will be updated with the new standard cost.
The Master File Audit (if switched on) will be updated with the change details.
A Stock Value Maintenance transaction will be made where stock exists as with any change to the Standard Cost of an Inventory item since the value of stock will increase/decrease in the Inventory Ledger and General Ledger based on the new unit costs of the items. Therefore Stock Gains/Losses will be automatically posted as a result of the new unit costs uploaded for all these items.
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