Overview of Item Company Wise FIFO Style In Marg ERP Software

Process to Set Item Company Wise FIFO In Marg ERP Software

Overview of Item Company Wise FIFO Style In Marg ERP Software

• FIFO stands for “First-In, First-Out”. It is a method used for cost flow assumption purposes in the cost of goods sold calculation. The FIFO method assumes that the oldest products in a company’s inventory are been sold first.
• Now Marg ERP Software gives a provision to the user to set company wise FIFO working style.

Process to Set Item Company Wise FIFO In Marg ERP Software

• Go to Masters > Marg Setups > Control Room.

• The user will select ‘Search in all’.

• The user will search 'Company FIFO' and click on 'Accept' button.

• In 'Ask Company wise FIFO if working style in Manual/Self' option, the user will select 'Y'.

• The user will press 'ESC' key twice.

• Now, click on ‘Yes’ button to save the changes.

After following the above steps, the user can view that FIFO Working Style option will get enabled in Item Company Master in Marg ERP Software.