If you want to calculate fiscal LIFO, all items listed in the form must be attached to a fiscal LIFO reporting group.

If there are items that you want to omit from the calculation, you must specify that you do not want to perform fiscal LIFO calculation for these items.

Calculation of normal value is set up on the reporting group or on individual items. For more information about how to set up calculation of normal value, see (ITA) Calculate fiscal LIFO journal lines.

If you want to change the fiscal LIFO reporting group for an item, the following criteria must be fulfilled:

  • The fiscal LIFO group of the item must be changed before the first annual municipal report that uses the fiscal LIFO reporting group is approved.

  • No items are on hand and no fiscal LIFO value remains in the fiscal LIFO reporting group (or on the item for an individual item calculation).

Create a fiscal LIFO reporting group

  1. Click > > > .

  2. In the form, press CTRL+N to create a new group.

Attach an item to a fiscal LIFO reporting group

  1. Click > .

  2. Select an item, and then click the tab.

  3. Select a fiscal LIFO reporting group in the field .

Reporting groups for items to be calculated individually

The fiscal LIFO calculation can be run for each item or for each group of items.

You can set up LIFO reporting groups for independent items. Items attached to these reporting groups are calculated and displayed individually.

If you set up more than one group for independent items, you can move items between these groups.

Apply fiscal LIFO reporting groups for individual items

  1. Follow the procedure to create a fiscal LIFO reporting group (earlier in this topic).

  2. Select the tab.

  3. Select the check box.

  4. All items that you add to this group are calculated and displayed individually.

See Also