Standard cost estimate period

[Former Member]

1. Can you please let me know in which period do we need to perform cost estimate and 1. Markℜlease functionality .
2. How many time can per perform cost estimate in a year. Is it yearly or can we even perform monthly or bymonthly or quarterly or half yearly
3. Is there there any GL posting if I per mark and release
   1. Performing mark & release 1st time for the material. i.e. in 1st year
   2. Performing mark & release 2nd time for the material. i.e. in 2nd year.

[coleti]

Dear Krishna,

1. You can perform the Cost Estimation Update once a period. The cost estimation is period based, once if you have some material movement in that period, you can´t change the standard cost in that period anymore, only in the next period.

2.There are some companies that update the cost estimation every month to get it near to the actual cost. But there are some companies that set the standard cost once a year. It depends on your business requirement. If you have a company that don´t change too much the price with it´s vendors, you can set the process once a year.

3. Once you release the price, the standard cost is set. Accounting document is posted if the new std cost is different from the previous one and if you have that material in stock. The stock is revaluated with the new preliminar price.

Best regards,

Gabriel Coleti

[Former Member]

Thank you for the information.

I have 2 material; For only 1 material I have mark and release one material which was successful for the period 8/2018. I forgot to add Material 2 for mark and release. Now If I am doing again for Material 2 getting error message

*************** Summary : *********************

Message no. CK790

and

Of 0 materials, 0 cost estimates were updated successfully

Message no. CK705

how to fix this

[Qi_Liu]

check the costing 2 view in master data, may be material 2 has already been released.

[Qi_Liu]

or if you are using CK24, make sure the date is in next period. Suppose today is 2025.01.16, then you need to change the date in CK24 to next period date Eg 2025.02.01

[Li_Sen]

Dear，

as for accounting journal entries, if the materials have no stock, no accounting documents get posted, if materials have stock, and the new prices are different than old prices, there would be a posting entries by materials Dr Inventory Cr Inventory revaluation account( account determination transaction key UMB)

for frequencies, it could go as often as monthly, but most companies do it less frequent, yearly, bi-yearly or quarterly