How to Correct Lot Cost

Use this workflow to correct cost components on an existing inventory lot without changing its quantity.

When to use this workflow

Use Cost Correction when the lot's material, labor, overhead, or outside process cost is wrong and needs correction.

Do not use this workflow to correct quantity or lot identity. Use the matching adjustment workflow for those changes.

Before you start

Confirm:

• The part and lot are correct.
• Current cost components have been reviewed.
• Correct cost components are known.
• The value impact is understood.
• The reason explains why the cost correction is needed.

Steps

1. Go to Dashboard > Inventory > Adjustments.
2. Set Adjustment Type to Cost Correction.
3. Enter or select the Part Number.
4. Select the lot.
5. Review the current material, labor, overhead, and outside process costs.
6. Enter the new cost components.
7. Review the new total cost per unit.
8. Review the value change preview.
9. Enter a clear Reason.
10. Select Submit Adjustment.

Cost review

The screen shows current and new values for:

• Material.
• Labor.
• Overhead.
• Outside Process.

The total cost per unit is calculated from those components. The preview shows the value change before posting.

What happens behind the scenes

PAX updates the cost components on the selected lot.

PAX inserts an inventory adjustment record with adjustment type CostCorrection.

If the value delta is not zero, PAX posts the increase or decrease to GL using the inventory adjustment posting configuration for the part's product line.

Quantity does not change.

Related docs

• Adjustments Overview
• Inventory Lot Detail Overview
• Inventory Value vs GL Overview
• Detailed Inventory Report Overview