Inventory and Product Mgt: Difference between revisions

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===Standard Cost===
===Standard Material Cost Per Unit and Decimal Precision (Standard Cost)===
[[#std_cost|Tag:#std_cost]]
[[#std_cost|Tag:#std_cost]]


In the field "Standard Material Cost Per Unit“, the price shown has the following properties:
The "Standard Material Cost Per Unit" or "Standard Cost" field in your system is designed to provide you with precise control over the display and recording of material costs. It adheres to the decimal places preference you have set. Below are key points regarding its behavior:


* It follows the decimal placss as set in the Preference.
# '''Decimal Places Preference''': The standard material cost per unit is influenced by the decimal places preference you have configured in your system Preference settings. This preference determines the level of decimal precision displayed throughout the application.
* If the standard cost was recorded with more than the decimal places as set in Preference, then the number of decimal places follows and the price will show the full decimal places.   For example, if your preference decimal places were set to 2, and the product price was calculated contains 6 decimal places, say 12.678912 and it was recorded. Then, when you recall the standard cost, it will show 12.678912 although your decimal places was set to 2.
# '''Retaining Precision''': If a standard cost was originally recorded with more decimal places than specified in your preference, the system retains the original level of precision. For instance, if your preference is set to 2 decimal places, but a product price was initially calculated with 6 decimal places (e.g., 12.678912), it will be recorded as such. Subsequently, when you access the standard cost, it will display the full decimal value (12.678912), even though your preference is set to 2 decimal places.
* If the user at this point change the price to a lower decimal places value, say 12.6789, the system will capture the new price as 12.6789. But it will not go back to 12.678912 when the user attempt to change it back. And if user change the price further to 12.68, then it will be recorded according to this new price with the decimal places of 2. Thereafter, unless the Preference is set again to higher decimal places, it will remain as 2 decimal places which is 12.68.
# '''User-Initiated Changes''': Users have the flexibility to manually adjust the decimal places for the price. If a user changes the price to a lower decimal places value, for instance, 12.6789, the system will capture the new price with the reduced precision (12.6789). However, if the user attempts to revert to the original precision of 6 decimal places (12.678912), the system will not automatically restore it.
# '''Permanent Changes''': Further changes made by the user will be recorded according to the new precision setting. For instance, if the user subsequently changes the price to 12.68, it will be stored with 2 decimal places. Unless the preference is adjusted to a higher decimal places setting, the recorded precision will remain at 2 decimal places (e.g., 12.68).
 
Understanding and managing the decimal precision in the "Standard Material Cost Per Unit" field ensures accurate representation and control of costs in your system. Make sure to adjust your preferences as needed to match your reporting and recording requirements.

Revision as of 17:47, 18 September 2023

Standard Material Cost Per Unit and Decimal Precision (Standard Cost)

Tag:#std_cost

The "Standard Material Cost Per Unit" or "Standard Cost" field in your system is designed to provide you with precise control over the display and recording of material costs. It adheres to the decimal places preference you have set. Below are key points regarding its behavior:

  1. Decimal Places Preference: The standard material cost per unit is influenced by the decimal places preference you have configured in your system Preference settings. This preference determines the level of decimal precision displayed throughout the application.
  2. Retaining Precision: If a standard cost was originally recorded with more decimal places than specified in your preference, the system retains the original level of precision. For instance, if your preference is set to 2 decimal places, but a product price was initially calculated with 6 decimal places (e.g., 12.678912), it will be recorded as such. Subsequently, when you access the standard cost, it will display the full decimal value (12.678912), even though your preference is set to 2 decimal places.
  3. User-Initiated Changes: Users have the flexibility to manually adjust the decimal places for the price. If a user changes the price to a lower decimal places value, for instance, 12.6789, the system will capture the new price with the reduced precision (12.6789). However, if the user attempts to revert to the original precision of 6 decimal places (12.678912), the system will not automatically restore it.
  4. Permanent Changes: Further changes made by the user will be recorded according to the new precision setting. For instance, if the user subsequently changes the price to 12.68, it will be stored with 2 decimal places. Unless the preference is adjusted to a higher decimal places setting, the recorded precision will remain at 2 decimal places (e.g., 12.68).

Understanding and managing the decimal precision in the "Standard Material Cost Per Unit" field ensures accurate representation and control of costs in your system. Make sure to adjust your preferences as needed to match your reporting and recording requirements.

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