Costing Methods

[Maggied]

Hi,
We have a company that was setup a long time ago using LIFO and our standard costing method we use around the globe is FIFO. What are the implications if we are to change from LIFO to FIFO or is it straight forward by just changing it in the account sets and then run day end processing. Any comments/suggestions would be great. We use sage 300 IC 62a.
Cheers

 

[ettienne]

Run IC day end processing first, then change.
The LIFO/FIFO buckets are the same, I suspect it will simply switch over. Try it in a test company first and see if the results you get are what you are expecting to see.

Sage 300 Certified Consultant