Change Valuation Method

The valuation method decides how iVendNext works out the value of stock that leaves a warehouse. You set it on each Item in the field Valuation Method. You can also set a default for all items in Stock Settings, in the field Default Valuation Method.

When you can change it

You can change the valuation method of an item only while the item has no stock transactions. After an item has a submitted Purchase Receipt, Purchase Invoice with stock, Delivery Note, Sales Invoice with stock, POS Invoice, Stock Entry or Stock Reconciliation, iVendNext refuses any change between FIFO, Moving Average and LIFO.

When you save the item, you will see "As there are existing submitted transactions against item" and the item code, followed by "you can not change the value of Valuation Method". The message also links one of the documents that block the change.

The default in Stock Settings

The Default Valuation Method in Stock Settings follows a similar rule. iVendNext refuses the change when there are stock transactions for any item that does not have its own Valuation Method. You will see "Can't change the valuation method, as there are transactions against some items which do not have its own valuation method".

If every item with transactions has its own Valuation Method, the default can be changed. It then applies only to items that have no method of their own.