Process Standard Cost Worksheet for Items with Standard Costing Method – GoldFinch Clientcare

Applies toInventory Costing and Posting

AudienceAll users

Last updatedJune 10, 2026

The Standard Cost Worksheet is used to adjust the Standard Cost of an item. For Purchase items, you adjust the existing cost, and for Work Order items, you either adjust the existing cost or roll up formula costs.

This process must be run after you execute the Item Calculate Low-Level routine from the Administration menu.

Note
Make sure no transactions are being entered or posted when processing the Standard Cost Worksheet.

Rollup of the Standard Costs for Purchase Items

If the Costing Method is Standard, the New Standard Cost will be calculated using the formula:

Current Standard Cost x (1 + Adjustment %/100)

Revalue the Standard Costs

This step will calculate the New Invoiced Cost and Expected Cost for each Item Ledger Entry that has a remaining quantity.

Post the Standard Cost Worksheet

When posting the worksheet:

The Standard Cost for items will be updated.
The value of the existing inventory will also be updated.
General Ledger entries for any invoice cost differences will be posted.

For Work Order Items

Create a New Standard Cost Worksheet

Select Work Order for the Replenishment System.
Save the worksheet.

You can perform a simulation test for a single item or a specific item category. However, you can not post the Standard Cost Worksheet unless you have run the standard cost roll-up for all items. Rolling up all items is necessary to ensure that all cost dependencies and component changes are reflected accurately before posting the updated standard costs.

Rollup of the Standard Costs for Work Order Items

This function will calculate the New Material Base Costs, New Capacity Base Costs, and New Standard Base Costs based on the following:

Lower-level items (those with the highest number in the Low-Level field) are calculated first.
GoldFinch will use the Rollup Date to identify the Active Formula Versions and determine the Item Formula to roll up.
The Default Routing Version is used to determine the Item Routing (or blank if no default exists).
For each lower-level item, Material Cost is calculated first, followed by Routing Cost. These are rolled up as Material Cost for higher-level parent items.

Note
If the Formula Management for the item is based on Percentage, the component’s Qty. Per value is converted to match the Base Unit of Measure of the parent item. Active Ingredient % is ignored, and the Specific Cost for the Item Routing is used.

Revalue the Standard Costs

This step will calculate the New Invoiced Cost and Expected Cost for each Item Ledger Entry that has a remaining quantity.

Post the Standard Cost Worksheet

When posting the worksheet:

The Standard Cost for items will be updated.
The value of the existing inventory will also be updated.
General Ledger entries for any invoice cost differences will be posted.

Article Process-Standard-Cost-Worksheet-for-Items-with-Standard-Costing-Method · Last updated June 10, 2026 · GoldFinch ERP Help Center