(ITA) Calculate fiscal LIFO journal lines
Important
This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.
Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012
Click Inventory management > Journals > Fiscal LIFO > Fiscal lifo internal.
Select a journal line, and then click the General tab.
In the End date field, enter the ending date of the period that the report should cover. The Start date field is automatically updated with a date one year before the ending date.
To include work in progress (WIP) in the report, select the Include work in progress check box.
To use the normal value as the basis for the calculation, select the Use normal value check box.
Click Calculate lines to open the Fiscal LIFO calculation engine - Internal form, where you can verify your selections, and then click OK.
WIP is not calculated if no quantity has been received into the warehouse, even though you define in the journal that you want to calculate WIP. If, for example, a production has been started and EUR 10,000 has been posted, but nothing has been reported as finished, the WIP value is not included in the calculation of the inventory value.
Note
If you do not select the Use normal value check box, the normal value is not calculated, even though the journal lines include items where you have requested either manual or automatic calculation of normal value.
Calculation of normal value and WIP
To apply normal value or include work in progress (WIP) in the calculation of the inventory value, you must set up the normal value and the WIP calculation before you process your journal lines.
Set up normal value calculation
Click Inventory management > Setup > Inventory > Fiscal LIFO reporting group.
In the Fiscal LIFO reporting group form, select the Normal value calculation field.
Select one of the following options:
Never – Normal value is never calculated for this group.
Automatic – If the deviation percent stated in the Deviation percent field in the Inventory and warehouse management parameters form is exceeded, normal value is applied. The deviation percent is the percentage that the value calculated for the period exceeds the average value of the items. You select the calculation period in the Calculation period field in the Inventory and warehouse management parameters form.
Manual – The normal value entered in the Normal value field is applied as the value of the items for the current year and for all previous years.
Note
To apply the normal value for individual items, you can select these options on the Manage costs tab in the Released product details form.
Set up WIP calculation
Click Inventory management > Setup > Inventory and warehouse management parameters.
On the General tab, select the Fiscal LIFO WIP period field and enter the number of days. The number of days determines how long the production period can be before the work in progress value of a production is included as part of the inventory value.
Note
If the period between the scheduled start and finish dates of a production is longer than the fiscal LIFO WIP period, WIP is included as part of the inventory value. If this period is shorter than the fiscal LIFO WIP period, WIP is not included. You enter the fiscal LIFO WIP period in the Fiscal LIFO WIP period field.
View fiscal LIFO journal lines
- In the Fiscal lifo internal or the Fiscal LIFO annual municipal report form, click Lines.
Delete fiscal LIFO journal lines
- In the Fiscal lifo internal or the Fiscal LIFO annual municipal report form, click Delete lines.