Costing / Bean Counter Question

Yahoo Archive
1
Best suggestion yet, Rick.

Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0


-----Original Message-----
From: Rick Gors [mailto:rgors@...]
Sent: Wednesday, September 10, 2003 1:33 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Costing / Bean Counter Question



Seems to me if you buy these parts for a specific job (or jobs), then they
will automatically be costed to the job(s) as WIP material. Then when you
ship they will roll into COS.




[Non-text portions of this message have been removed]
2
Hello Group -

Please excuse my ignorance on the accounting side of this question. -
My mind is not thinking clearly today.

We just received a large order from one customer. We are ordering
alot of parts just to "try" - purchasing is entering them as "dummy" one
time buys. The parts are not hitting my part master. But they are
coding them to our general purchased finsihed goods account. If we
actually use these parts we are then generating a Vamco part number that
will be added to the final assembly number but I realize my costing is
not going to be correct.

My boss wants me to keep track of all parts that we are ordering for
this customer. Iwant to create of new g/l account called
R&D_CUSTOMERNAME and code all these parts to that account instead of the
general puchased finished goods account. But my question is since
they are dummy numbers at one point do they come out of this account?

I hope this makes since :)

Best Regards,


Dina Hieber
Vamco International, Inc.
(412) 963-7100 Phone
(412) 963-9511 Fax




[Non-text portions of this message have been removed]
3
Kind of depends..........
Depends on how you have Vantage set up.....bill of materials for the parts,
etc......

Basically, Issuing from a materials account to a job will put them into a
WIP G/L account.

OR you can always use an adjusting general ledger entry to transfer the
costs from one G/L account to another.

Deb Wilmoth
Controller
Reeder & Kline Machine Company, Inc.
Vantage 5.0


-----Original Message-----
From: Dina Hieber [mailto:dhieber@...]
Sent: Wednesday, September 10, 2003 1:14 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Costing / Bean Counter Question


Hello Group -

Please excuse my ignorance on the accounting side of this question. -
My mind is not thinking clearly today.

We just received a large order from one customer. We are ordering
alot of parts just to "try" - purchasing is entering them as "dummy" one
time buys. The parts are not hitting my part master. But they are
coding them to our general purchased finsihed goods account. If we
actually use these parts we are then generating a Vamco part number that
will be added to the final assembly number but I realize my costing is
not going to be correct.

My boss wants me to keep track of all parts that we are ordering for
this customer. Iwant to create of new g/l account called
R&D_CUSTOMERNAME and code all these parts to that account instead of the
general puchased finished goods account. But my question is since
they are dummy numbers at one point do they come out of this account?



[Non-text portions of this message have been removed]
4
Seems to me if you buy these parts for a specific job (or jobs), then they
will automatically be costed to the job(s) as WIP material. Then when you
ship they will roll into COS.

My 3.14159 cents.

RG


[Non-text portions of this message have been removed]