Hi @enric,
Did you set valuation rate in the item master for the respective item
Hi,
No. I don’t have the option to add Valuation Rate in the item master for products with a BOM.
Until the last week everything worked fine without a valuation.
Now I have many manufacturing orders with an old BOM with valuation rate 0, which I can’t finish.
I have the same problem, please teach me how to setup for this isssue, and I have another problem I want to update my rate in quotation even I setup my Precision as “9” it still doesn’t work…
Hi @Chih_Hsien_Chiang, @bglazier
It will be helpful for us if you provide the browser’s console log.
I hope you have defined the valuation rate on the item master
Thanks
Console log as requested:
Valuation_rate = 0.0 on item_master, because the item is a no cost item and has a valuation of zero.
[Log] Traceback (most recent call last): (desk.min.js, line 1531)
File “/home/frappe/frappe-bench/apps/frappe/frappe/app.py”, line 55, in application
response = frappe.handler.handle()
File “/home/frappe/frappe-bench/apps/frappe/frappe/handler.py”, line 19, in handle
execute_cmd(cmd)
File “/home/frappe/frappe-bench/apps/frappe/frappe/handler.py”, line 40, in execute_cmd
ret = frappe.call(method, **frappe.form_dict)
File “/home/frappe/frappe-bench/apps/frappe/frappe/init.py”, line 897, in call
return fn(*args, **newargs)
File “/home/frappe/frappe-bench/apps/frappe/frappe/desk/form/save.py”, line 19, in savedocs
doc.submit()
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 723, in submit
self._submit()
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 712, in _submit
self.save()
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 223, in save
return self._save(*args, **kwargs)
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 269, in _save
self.run_post_save_methods()
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 771, in run_post_save_methods
self.run_method(“on_submit”)
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 651, in run_method
out = Document.hook(fn)(self, *args, **kwargs)
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 858, in composer
return composed(self, method, *args, **kwargs)
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 841, in runner
add_to_return_value(self, fn(self, *args, **kwargs))
File “/home/frappe/frappe-bench/apps/frappe/frappe/model/document.py”, line 645, in
fn = lambda self, *args, **kwargs: getattr(self, method)(*args, **kwargs)
File “/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/sales_invoice/sales_invoice.py”, line 118, in on_submit
self.make_gl_entries()
File “/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/sales_invoice/sales_invoice.py”, line 538, in make_gl_entries
gl_entries = self.get_gl_entries()
File “/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/sales_invoice/sales_invoice.py”, line 572, in get_gl_entries
self.make_item_gl_entries(gl_entries)
File “/home/frappe/frappe-bench/apps/erpnext/erpnext/accounts/doctype/sales_invoice/sales_invoice.py”, line 649, in make_item_gl_entries
gl_entries += super(SalesInvoice, self).get_gl_entries()
File “/home/frappe/frappe-bench/apps/erpnext/erpnext/controllers/stock_controller.py”, line 57, in get_gl_entries
self.update_stock_ledger_entries(sle)
File “/home/frappe/frappe-bench/apps/erpnext/erpnext/controllers/stock_controller.py”, line 92, in update_stock_ledger_entries
sle.voucher_type, sle.voucher_no)
File “/home/frappe/frappe-bench/apps/erpnext/erpnext/stock/stock_ledger.py”, line 438, in get_valuation_rate
.format(item_code, voucher_type, voucher_no))
File “/home/frappe/frappe-bench/apps/frappe/frappe/init.py”, line 309, in throw
msgprint(msg, raise_exception=exc, title=title, indicator=‘red’)
File “/home/frappe/frappe-bench/apps/frappe/frappe/init.py”, line 302, in msgprint
_raise_exception()
File “/home/frappe/frappe-bench/apps/frappe/frappe/init.py”, line 275, in _raise_exception
raise raise_exception, encode(msg)
ValidationError: Valuation rate not found for the Item ITEM-01377, which is required to do accounting entries (for booking expenses). Please create an incoming stock transaction or mention valuation rate in Item record, and then try submiting None None
Have you making back dated entries? Kindly add the valuation rate for stock item
Hi @rohit_w
No, I am not making any back dated entries. The problem arises with new sales invoices going on the system today.
I don’t have any Null valuation_rate on the database after having run an update query.
Thanks
Ben
I am also facing this problem. Please revert the software to previous version. Valuation Rate is set to “0.0”. Please HELP me out !!!
I’m seeing this problem too.
I can receive stock with a rate and amount of $0, but if I try and create a Delivery Note for that stock with a cost and amount of $0, I get the same error.
“Valuation rate not found for the Item XXXXXXX, which is required to do accounting entries (for booking expenses). Please create an incoming stock transaction or mention valuation rate in Item record, and then try submiting None None”
@saidsl @enric @Chih_Hsien_Chiang @Er_Kartik_Mittal @DevenK despite this being a business critical issue there doesn’t seem to be any urgency to fix the issue.
Fortunately, in my case I was able to patch the core code and have thankfully been able to submit invoices. But for a few weeks this caused me major problems. In fact I am still trying to reconcile sales from mid-december due to the backlog caused by this issue.
@nabinhait @rohit_w. can we confirm that this is a system bug and look for a resolution sometime soon?
I share @bglazier’s frustration on this. An ERP ends up becoming the heart of the enterprise and if things don’t work, operations come to a screeching halt and the service provider, the person that decided to go with EREPNext and ERPNext end up getting the rap. If this continues too many times, people will actively start thinking migrating out of ERPNext.
If there are items that are troublesome from an accounting perspective, can you please pass those entries against a Troublesome Entries account and suggest people to review the Troublesome Entries Account ledger and clean up this ledger periodically.
Your implementation of adding Valuation to Item Code is not the greatest of decisions. I would have preferred the valuation to be very specific to the Company - a ERPNext instance can have multiple companies and often times these companies work upstream or downstream and consequently will have different valuations.
Plus the error message has moved from what’s listed in this post to the following: (This is after your latest update v7.2.19: “Valuation rate not found for the Item EX17878, which is required to do accounting entries for Stock Entry STE-04608. If the item is transacting as a sample item in the Stock Entry, please mention that in the Stock Entry Item table. Otherwise, please create an incoming stock transaction for the item or mention valuation rate in the Item record, and then try submiting/cancelling this entry”
I wish you guys would consult some of your leading users before you go ahead and make serious changes.
This is not to say I don’t love ERPNext, but this love doesn’t have to reflect the real world and come packaged with pain. 
Thanks
Jay
We have fixed the issue in the latest release.
Now, you can specify an item is a sample item in any stock transaction. There is a new field “Is Sample Item” in every Item table in the stock transactions. If an item is a sample item, system will allow that item with zero valuation rate.
Also, fixed a bug in picking up valuation rate from Item master, where there are no previous stock transactions for an item.
Please update and check, if it solves the issue
Hi @nabinhait,
I’ve tested it and this does not fix the issue for us. We don’t use ERPNext for pricing, so all of our deliveries are zero value in the system. I don’t agree with having my staff mark all of our deliveries as sample items, because they simply aren’t sample items.
I agree with @JayRam and @bglazier, this is quite frustrating. Any help would be greatly appreciated. Thank you.
@nabinhait: May I know why this change got affected. What’s the purpose of the Valuation Rate field in the item master? Why can’t a blank in the valuation field considered to be 0 value for valuation? What happens if I mark.all the items in the item master as 0.01 valuation rate? How will.it, if it does at all, affect my book of accounts?
I am happy to contribute and flesh out your approaches when you are contemplating such changes. I’m sure many in the community will contribute too. It will be slower for you guys to implement changes, but it will be less disruptive on all of us.
Thanks
As you are not tracking pricing in the erpnext, there is no point in enabling “Perpetual Inventory”. If you disable perpetual inventory, this validation would not come.
As per perpetual inventory system, system books expenses (COGS) while delivering the items. To book the expense, system tries to pick the actual buying amount (landed cost) as per valuation method. But if system does not found any incoming entry for the delivery warehouse, then it tries to get the valuation rate from any incoming transaction against any other warehouse. If still valuation rate not found, system picks valuation rate from Item master.
Actual issue was, some users allowed negative inventory and at the same time, they use perpetual inventory. In this scenario, when they deliver some items at the very first time, without making any incoming entry, system picks valuation rate from Item master to book COGS.
The point is, if you are not tracking pricing correctly in the stock transactions, then there is no reason of using perpetual inventory system. Because your accounting entries are totally depends on correct valuation rate.
Previously, when system did not find any valuation rate, system used to skip accounting entries for that item. Many times, user do not aware of the effect of not mentioning proper valuation rate, that it directly effect you stock-in-hand and COGS balance.
To tackle the issue, in case of perpetual inventory, we have enforced valuation rate, either via any incoming stock transaction or putting standard valuation rate in Item master.
In this process, while implementing first time, we missed to consider sample items, where there will be no incoming/outgoing rate. Now, the system handles the scenario.
6 Likes
That solves my problem completely, thank you!
Alright. After getting frustrated/irritated and wandering here and there looking for workaround to overcome this VALUATION RATE thing (and not finding anything at last), I now have to manually enter the valuation rate for each and every stock item.
Now on the verge of completion of this task, I am starting to feel that this practice is only going to help me and my business at last.
1 Like
same issue, disable Perpetual Inventory solved this
go to company>setting >stock setting
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Sir, I followed the same instruction as you mentioned. Still I’m facing the popup below
“Valuation Rate not found for item XXX”
Could you please help me with another solution!!