Did it hit the variance account?
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, September 24, 2014 10:41 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] RE: 9.00 AP Variance Account
You ladies Rock! Thank you. They were not running capturing WIP. I was able to find it by running the wip reconciliation.
Best Regards,
Dina M. Hieber
Vamco International, Inc.
555 Epsilon Drive
Pittsburgh, PA 15238
(412) 963-7100 x 203
(412) 963-7160
*****
This e-mail message and any files transmitted with it are confidential and are intended for the sole use of the intended receipient(s). Any unauthorized use or disclosure is prohibited. Any opinions express in the email are those of the individual and not necessarily the company. If you are not the intended recipient, please contact the sender by reply email and destroy all copies of the original message.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, September 24, 2014 1:12 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] RE: 9.00 AP Variance Account
Run the Inventory WIP Reconciliation report for ADJ-PUR and ADJ-COST Transactions.
There should be a transaction for the PO Receipt for this PO receipt.
Let us know what you find.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, September 24, 2014 9:37 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] RE: 9.00 AP Variance Account
Thanks. That is my problem.. We are a standard costing. The PO was for 20K, the invoice and payment was for 25K. No variance was created. I do not understand why.
Best Regards,
Dina M. Hieber
Vamco International, Inc.
555 Epsilon Drive
Pittsburgh, PA 15238
(412) 963-7100 x 203
(412) 963-7160
*****
This e-mail message and any files transmitted with it are confidential and are intended for the sole use of the intended receipient(s). Any unauthorized use or disclosure is prohibited. Any opinions express in the email are those of the individual and not necessarily the company. If you are not the intended recipient, please contact the sender by reply email and destroy all copies of the original message.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, September 24, 2014 12:16 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] RE: 9.00 AP Variance Account
We are on average cost – so – there is no variance when the PO is received. It recalculates average cost.
The only time we hit the PO variance account is when the PO price is different that the Invoice price.
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, September 24, 2014 8:30 AM
To: vantage@yahoogroups.com
Subject: [Vantage] RE: 9.00 AP Variance Account
You are correct. The variance amount would record at $5,000. There are two different variances that hit.
One is the difference between the inventory value and the PO amount when the PO is received.
The second is the difference between the PO amount and Invoice amount when processing the invoice.
Deirdre Sykes | Finance Supervisor
GSI Technologies, LLC | 311 Shore Drive | Burr Ridge, IL 60527
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From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Wednesday, September 24, 2014 10:19 AM
To: vantage@yahoogroups.com
Subject: [Vantage] 9.00 AP Variance Account
When does the AP variance account actually hit the g/l.
Under AP Variance we have a suspense account listed. If I enter a PO for 20K, but the invoice was for 25K and we paid 25K. I would of thought the variance account would be recorded for 5,000. Am I missing something?
Best Regards,
Dina M. Hieber
Vamco International, Inc.
555 Epsilon Drive
Pittsburgh, PA 15238
(412) 963-7100 x 203
(412) 963-7160
www.vamcointernational.com<http://www.vamcointernational.com/>
*****
This e-mail message and any files transmitted with it are confidential and are intended for the sole use of the intended receipient(s). Any unauthorized use or disclosure is prohibited. Any opinions express in the email are those of the individual and not necessarily the company. If you are not the intended recipient, please contact the sender by reply email and destroy all copies of the original mes! sage.
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