Once you close a job, the "tie" between COGS and the job is broken from
a G/L perspective. Prior to job closure, jobs costs flow to the
assigned COGS account(s) as determined in the control account setup.
Once a job has been closed, yes, you can reopen a job and
add/remove/adjust costs to make the job itself look as accurate as
possible, however, any cost revisions after the job has been closed goes
to material variance account (as set up in the control accounts) rather
than the pre-determined COGS account(s).
What we "TRY" to do is wait at least a week after a shipment to make
sure all costs are entered/revised. Then as we get closer to month end,
that week wait time shortens a little. Other than entering/adjusting
labor prior to the month-end WIP Capture (labor is locked for the month
once this routine is run), jobs can remain open into the next month
(there is no need to close jobs ASAP, other than to keep your WIP
relatively clean). After the employee who was closing jobs resigned
several years ago, we dropped the ball on closing jobs for several
months. Then when this process got caught up, we incurred a large jump
in our material variance account as "unclean" jobs were closed and their
unallocated costs all hit the material variance at once.
I hope this helps explain the G/L "break" that occurs once a job is
closed!
Thanks!
Rick Ludwig
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Sherer, Rhonda
Sent: Tuesday, May 10, 2005 3:46 PM
To: 'vantage@yahoogroups.com'
Subject: RE: [Vantage] Re: Closing Jobs
I'm purchasing and that was a rule used from the accounting/controller
side.
I'm not sure of the reasons. We were good rules people when we set up
Big
V. (I slept once or twice since our implementation in 1999.) Also, we
have
a fairly new controller now, so I'm not even sure the answer hasn't
changed
since then. Sorry.
-----Original Message-----
From: bbelzer42 [mailto:bbelzer@...]
Sent: Tuesday, May 10, 2005 3:40 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Closing Jobs
Can you explain how closing is final? It appears that you can
(un)close a job at any time...
Thanks,
Ben
a G/L perspective. Prior to job closure, jobs costs flow to the
assigned COGS account(s) as determined in the control account setup.
Once a job has been closed, yes, you can reopen a job and
add/remove/adjust costs to make the job itself look as accurate as
possible, however, any cost revisions after the job has been closed goes
to material variance account (as set up in the control accounts) rather
than the pre-determined COGS account(s).
What we "TRY" to do is wait at least a week after a shipment to make
sure all costs are entered/revised. Then as we get closer to month end,
that week wait time shortens a little. Other than entering/adjusting
labor prior to the month-end WIP Capture (labor is locked for the month
once this routine is run), jobs can remain open into the next month
(there is no need to close jobs ASAP, other than to keep your WIP
relatively clean). After the employee who was closing jobs resigned
several years ago, we dropped the ball on closing jobs for several
months. Then when this process got caught up, we incurred a large jump
in our material variance account as "unclean" jobs were closed and their
unallocated costs all hit the material variance at once.
I hope this helps explain the G/L "break" that occurs once a job is
closed!
Thanks!
Rick Ludwig
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Sherer, Rhonda
Sent: Tuesday, May 10, 2005 3:46 PM
To: 'vantage@yahoogroups.com'
Subject: RE: [Vantage] Re: Closing Jobs
I'm purchasing and that was a rule used from the accounting/controller
side.
I'm not sure of the reasons. We were good rules people when we set up
Big
V. (I slept once or twice since our implementation in 1999.) Also, we
have
a fairly new controller now, so I'm not even sure the answer hasn't
changed
since then. Sorry.
-----Original Message-----
From: bbelzer42 [mailto:bbelzer@...]
Sent: Tuesday, May 10, 2005 3:40 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Closing Jobs
Can you explain how closing is final? It appears that you can
(un)close a job at any time...
Thanks,
Ben
--- In vantage@yahoogroups.com, "Sherer, Rhonda" <rhonda@r...> wrote:
> We have held the job closing for "a while" to collect the same kind of
> costs. We often have several subcontract operations at the end of the
> process which would have freight to be adjusted to the job. We have
not
> made it a practice to close and reopen the jobs, as we were cautioned
at
> implementation this would not be good. Closing is final, but
Completion can
> be done as soon as it all ships out.
>
>
> -----Original Message-----
> From: bbelzer42 [mailto:bbelzer@t...]
> Sent: Tuesday, May 10, 2005 2:01 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Re: Closing Jobs
>
>
> Thank you all for your responses.
>
> Ok, so then here is my next question. I need to go back and add
> freight as a material (don't get me started on that one...) thus they
> told me to keep the jobs open until I get the bills back for freight.
> But, could I instead just reopen the job and apply a cost at a later
> time?
>
>
> Thanks,
> Ben
>
> --- In vantage@yahoogroups.com, jeremyrleonard@a... wrote:
> > You could write a script to close jobs as long as you can figure
out a
> > criteria to use to select what jobs to close. I use Winbatch for
> this but many
> > users on here use Ground Control. I like Winbatch alittle better
> because you can
> > compile the scripts into very small executable files. It doesn't
> take to long
> > for a nontechnical person to figure out. Its also very handy for
> > importing/exporting data from Vantage when other methods are less
> viable.
> >
> > Just a thought,
> > Jeremy
> >
> >
> > [Non-text portions of this message have been removed]
>
>
>
>
> Useful links for the Yahoo!Groups Vantage Board are: ( Note: You
must have
> already linked your email address to a yahoo id to enable access. )
> (1) To access the Files Section of our Yahoo!Group for Report
Builder and
> Crystal Reports and other 'goodies', please goto:
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<http://groups.yahoo.com/group/vantage/files/.>
> <http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/.> >
> (2) To search through old msg's goto:
> http://groups.yahoo.com/group/vantage/messages
<http://groups.yahoo.com/group/vantage/messages>
> <http://groups.yahoo.com/group/vantage/messages
<http://groups.yahoo.com/group/vantage/messages> >
> (3) To view links to Vendors that provide Vantage services goto:
> http://groups.yahoo.com/group/vantage/links
<http://groups.yahoo.com/group/vantage/links>
> <http://groups.yahoo.com/group/vantage/links
<http://groups.yahoo.com/group/vantage/links> >
>
>
>
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>
>
>
>
> [Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
<http://groups.yahoo.com/group/vantage/files/.>
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
<http://groups.yahoo.com/group/vantage/messages>
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
<http://groups.yahoo.com/group/vantage/links>
_____
Yahoo! Groups Links
* To visit your group on the web, go to:
http://groups.yahoo.com/group/vantage/
<http://groups.yahoo.com/group/vantage/>
* To unsubscribe from this group, send an email to:
vantage-unsubscribe@yahoogroups.com
<mailto:vantage-unsubscribe@yahoogroups.com?subject=Unsubscribe>
* Your use of Yahoo! Groups is subject to the Yahoo! Terms of
Service
<http://docs.yahoo.com/info/terms/> .
[Non-text portions of this message have been removed]
Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must
have already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder
and Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links
_____
Yahoo! Groups Links
* To visit your group on the web, go to:
http://groups.yahoo.com/group/vantage/
* To unsubscribe from this group, send an email to:
vantage-unsubscribe@yahoogroups.com
<mailto:vantage-unsubscribe@yahoogroups.com?subject=Unsubscribe>
* Your use of Yahoo! Groups is subject to the Yahoo! Terms of
Service <http://docs.yahoo.com/info/terms/> .
[Non-text portions of this message have been removed]