[4.0] Physical Inventory

Yahoo Archive
1
Inventory is product on the shelf available to be resold or used in the
manufacturing process depending on whether it is raw materials or finished
goods. WIP is product that is being used in the manufacturing process.
Technically if your business closed today WIP would have no value and be
moved to COG/COS, that is the reason WIP does not show up on the Stock
Status Report or in the inventory count. It has already been consumed. Now
you and I both know that the many companies considered the inventory dollars
to be the total of raw materials, WIP, and finished goods. Consequently you
would have to count WIP separately. If your WIP is incorrect any
corrections will have to be made a the job level. Either material was over
issued to the job or under issued to the job. If you just adjust WIP when
the job is complete the correct dollars will not go to finished goods or
cost of goods depending on your finished product. Any questions?

-----Original Message-----
From: Denise Greenwell [mailto:rdgreenwell@...]
Sent: Friday, December 29, 2000 10:36 AM
To: 'Vantage Onelist (E-mail)
Subject: [Vantage] [4.0] Physical Inventory


We are doing our full physical inventory and would like to know how others
are handling the WIP items that are not in inventory but have been issued to
jobs? We are using Vantage 4.0 and the Count Entry section. We have our
parts set up in bin locations except for the WIP items. They do not have a
bin location. Any input would be greatly appreciated.



Denise Greenwell



We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)
2
We are doing our full physical inventory and would like to know how others
are handling the WIP items that are not in inventory but have been issued to
jobs? We are using Vantage 4.0 and the Count Entry section. We have our
parts set up in bin locations except for the WIP items. They do not have a
bin location. Any input would be greatly appreciated.



Denise Greenwell
3
Vantage count module is like most other ERP packages and does not handle
WIP. Most clients will print off a report of all WIP (production detail,
etc) and review for accuracy. Make corrections to the WIP before you begin
the count process. The total of WIP (labor and material in all jobs gets
added to the perpetual inventory for a grand total of all inventory.

Keith E. Taylor
Vice President
LBSi
Business Systems Consultants (Progress based ERP packages)
216/476-1416 ext 26
keith@...

-----Original Message-----
From: Denise Greenwell [mailto:rdgreenwell@...]
Sent: Friday, December 29, 2000 11:36 AM
To: 'Vantage Onelist (E-mail)
Subject: [Vantage] [4.0] Physical Inventory

We are doing our full physical inventory and would like to know how others
are handling the WIP items that are not in inventory but have been issued to
jobs? We are using Vantage 4.0 and the Count Entry section. We have our
parts set up in bin locations except for the WIP items. They do not have a
bin location. Any input would be greatly appreciated.



Denise Greenwell



We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)

---------------------------
Long Business Systems, Inc.
12120 Elmwood Ave.
Cleveland, OH 44111
Phone: (216) 476-1416
Fax: (216) 476-1452
http://www.lbsi.com
---------------------------
4
Denise;
When we took physical inventory our G.M. also wanted WIP taken. We had the
counters use blank tags and "blindly" count all materials. We had them
record:
Material part number
Job number
Assembly Number
Sequence Number completed
Quantity

If they found some material had been processed by the operational sequence
and some not we had them create 2 tags, one for the material that was thru
the sequence step and one for the previous step.

I dumped data from WIP to an MS Access DB and did my own reconciliation.

Hope this helps.

Warren R. Eddy
Information Services Manager
National Tube Form, LLC
An Excaliber Company
e-mail - Warren.Eddy@...
phone - 219 478-2363 ext 217
fax - 219 478-1043



-----Original Message-----
From: Denise Greenwell [mailto:rdgreenwell@...]
Sent: Friday, December 29, 2000 11:36 AM
To: 'Vantage Onelist (E-mail)
Subject: [Vantage] [4.0] Physical Inventory


We are doing our full physical inventory and would like to know how others
are handling the WIP items that are not in inventory but have been issued to
jobs? We are using Vantage 4.0 and the Count Entry section. We have our
parts set up in bin locations except for the WIP items. They do not have a
bin location. Any input would be greatly appreciated.



Denise Greenwell



We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)
5
Denise,

I guess I am confused on your problem. WIP is WIP. If you have material
allocated to a job it came from a purchase or inventory or a subassembly (or
am I missing something?) The first two items show up in WIP under material
costs. The later is rolled up on the job WIP numbers.

If you are using under the bench inventories or moving materials from jobs
without transactions in Vantage then you are out of luck, no system can help
with those deamons.

I'd like to here more, I must be missing part of the problem.

Keith Mailloux

-----Original Message-----
From: Denise Greenwell [mailto:rdgreenwell@...]
Sent: Friday, December 29, 2000 11:36 AM
To: 'Vantage Onelist (E-mail)
Subject: [Vantage] [4.0] Physical Inventory


We are doing our full physical inventory and would like to know how others
are handling the WIP items that are not in inventory but have been issued to
jobs? We are using Vantage 4.0 and the Count Entry section. We have our
parts set up in bin locations except for the WIP items. They do not have a
bin location. Any input would be greatly appreciated.



Denise Greenwell



We no longer allow attachments to files. To access/share Report Files,
please go to the following link: http://www.egroups.com/files/vantage/
(Note: If this link does not work for you the first time you try it, go to
www.egroups.com, login and be sure to save your password, choose My Groups,
choose Vantage, then choose Files. If you save the password, the link above
will work the next time you try it.)
6
Unfortunately it appears that the WIP report only values
using actual cost and not standard. I can't see how to
value wip at standard like the non-wip items are valued.

Keith Taylor wrote:
>
> Vantage count module is like most other ERP packages and does not handle
> WIP. Most clients will print off a report of all WIP (production detail,
> etc) and review for accuracy. Make corrections to the WIP before you begin
> the count process. The total of WIP (labor and material in all jobs gets
> added to the perpetual inventory for a grand total of all inventory.
>
> Keith E. Taylor
> Vice President
> LBSi
> Business Systems Consultants (Progress based ERP packages)
> 216/476-1416 ext 26
> keith@...
>
> -----Original Message-----
> From: Denise Greenwell [mailto:rdgreenwell@...]
> Sent: Friday, December 29, 2000 11:36 AM
> To: 'Vantage Onelist (E-mail)
> Subject: [Vantage] [4.0] Physical Inventory
>
> We are doing our full physical inventory and would like to know how others
> are handling the WIP items that are not in inventory but have been issued to
> jobs? We are using Vantage 4.0 and the Count Entry section. We have our
> parts set up in bin locations except for the WIP items. They do not have a
> bin location. Any input would be greatly appreciated.
>
> Denise Greenwell
>
> We no longer allow attachments to files. To access/share Report Files,
> please go to the following link: http://www.egroups.com/files/vantage/
> (Note: If this link does not work for you the first time you try it, go to
> www.egroups.com, login and be sure to save your password, choose My Groups,
> choose Vantage, then choose Files. If you save the password, the link above
> will work the next time you try it.)
>
> ---------------------------
> Long Business Systems, Inc.
> 12120 Elmwood Ave.
> Cleveland, OH 44111
> Phone: (216) 476-1416
> Fax: (216) 476-1452
> http://www.lbsi.com
> ---------------------------
>
>
> We no longer allow attachments to files. To access/share Report Files, please go to the following link: http://www.egroups.com/files/vantage/
> (Note: If this link does not work for you the first time you try it, go to www.egroups.com, login and be sure to save your password, choose My Groups, choose Vantage, then choose Files. If you save the password, the link above will work the next time you try it.)