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  • Important FIFO & LIFO config file settings with comments

    04 Mar 2010 - Posted by The BlueBox under Development.

    Setting the system transaction costing method:


    $system_transaction_costing_method="LIFO"; //FIFO, LIFO, AVERAGE or STANDARD
        //Note on Costing Method: - this gets cost of goods for quote/sales order values and any other cost lookup when there is not actual stock being implied (ie the stock is theoretical)
        //On GRN: all 4 methods place the actual cost of goods into the inventory value, but STANDARD also places the variance into the StandardCostVariance GL Category
        //On Despatch: LIFO and FIFO use the literal stock value of goods despatched, while AVERAGE uses the current average cost of the goods and STANDARD uses the current standard cost of goods despatched


    Setting the system transaction stock allocation method:


    $system_transaction_stock_allocation_method="FIFO"; //FIFO,LIFO
        //Note on Stock Allocation Method: - this is purely used when the system tries to AUTO allocate stock to sales orders for shipping
        //If LIFO costing method is used with FIFO allocation menthod, you will see a discrepency in the margins on sales orders vs the final actual margins on despatch/invoice
        //The same is true for FIFO/LIFO combination. This scenario is most obvious when the goods shipped have a long shelf life or a rapidly changing price
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