This is on the EUG as well, but thought I would throw it out to anyone
interested.
Tomorrow4/15/11 at 3pm EST, I will be hosting a conference call where we
can discuss E9 Performance issues, and maybe come up with some good
information to pass onto epicor.
Please email me at nfuller@... if you would like to be invited.
I will send out the invites tomorrow morning. I am also coming up with a
questionairre for you to fill out if you would like to participate. Maybe we
can find a common thread and give that to Epicor to work on.
Again, if you are wanting to participate in the call or just listen in,
email me at nfuller@.... Do not reply to this.
Thanks
Nick Fuller
On Thu, 14 Apr 2011 14:02:53 -0400
"Edward F. Fox, Jr." <efox@...> wrote:
You're welcome.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
[mailto:vantage@yahoogroups.com] On Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 1:53 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Using MISC charges to adjust for
material cost using
V6.0
You have helped me immensely, thank you.
If you are not posting the "Capture COS/WIP" then no, it
is not debiting and
crediting g/l accounts.
I'm not sure how large your company is and what your
volume of transactions
is, but I started not posting the inventory system and
have found it much
easier with the interface on. It may be something to
consider, but it can
be a can of worms if all of your control accounts are not
set up completely
and correctly.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>] On
Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 1:21 PM
To: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] Using MISC charges to adjust for
material cost using
V6.0
Of course, makes sense. One last questioning of vantage
logic. We do not
have the inventory interface checked in the system
configuration and we do
not run the Inventory/WIP account reconciliation or the
Capture COS/WIP
activity reports. Is vantage still crediting and debiting
G\L accounts in
the background? Thanks again and I hope this question did
not expose my
utter lack of understanding when it comes to G\L accounts
and how vantage
moves money. Thank you.
Explain to them how the system works and what you are
doing to minimize the
error since you know that is how it functions. For us, we
carry very small
quantities of inventory so the total projected error is
small enough to be
deemed immaterial by the auditors and is waived in their
workpapers.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>] On
Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 12:45 PM
To: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] Using MISC charges to adjust for
material cost using
V6.0
Mr Fox
Thank you again for your help. So vantage will move the
cost difference to a
G\L account specified either from the default control
accounts or the
account specified for the misc charge, but it will not
correctly adjust the
cost of the material for inventory. OK, from a CPA
standpoint what do you
say to the auditors when they test costing of material
and there is a
difference between the price in vantage and the price
paid? Again, thank you
for your help.
Paul,
That is exactly the way it works. If A/P just changed the
unit price then
the variance would go to your purchase price variance
account, but since you
are using a misc charge it will go to the g/l a/c
assigned to that charge.
The only way we have found to receive the inventory cost
in at the vendor
price in ($21 vs. $20) is to unreceive the PO, fix the
price and re-receive
it. That has a whole new set of issues so we do not do
this and rather let
the difference go to variance. To prevent this on future
orders we will
update the price list so the new price defaults on the
new PO.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>] On
Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 11:13 AM
To: Vantage (vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>)
Subject: [Vantage] Using MISC charges to adjust for
material cost using V6.0
Trying to help figure out what vantage 6.0 is doing. When
paying invoices
there are times when we have to adjust the cost due to
various reasons.
Example, we ordered 100ft spool of common lead wire. 10ft
ordered for job
XYZ, 10ft ordered for job ZYX and the balance will be
ordered to inventory
(80ft). For some reason the cost we initially placed on
the purchase order
is no different from the invoice cost. So the accounting
department will
create misc charges for each of the three lines to get
the correct cost on
the material. They are telling me the two lines for the
jobs will show a
cost adjustment ON THE JOB, but there will be no cost
adjustment to the
inventory side. Example the cost of the 80ft to inventory
was $20.00, we
need to do a misc charge to show that the actual cost is
$21.00. They
conduct the misc charge but the material is still in
stock with the cost of
$20.00, not $21.00. Is using the misc charge the proper
way to adjust for a
different cost of material? If not what is the correct
way to get the proper
cost to inventory. Thanks in advance.
Paul Smith
Inventory Management
233 Ballston Ave
Saratoga Springs NY, 12866
518-245-4358
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]
interested.
Tomorrow4/15/11 at 3pm EST, I will be hosting a conference call where we
can discuss E9 Performance issues, and maybe come up with some good
information to pass onto epicor.
Please email me at nfuller@... if you would like to be invited.
I will send out the invites tomorrow morning. I am also coming up with a
questionairre for you to fill out if you would like to participate. Maybe we
can find a common thread and give that to Epicor to work on.
Again, if you are wanting to participate in the call or just listen in,
email me at nfuller@.... Do not reply to this.
Thanks
Nick Fuller
On Thu, 14 Apr 2011 14:02:53 -0400
"Edward F. Fox, Jr." <efox@...> wrote:
You're welcome.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
[mailto:vantage@yahoogroups.com] On Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 1:53 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Using MISC charges to adjust for
material cost using
V6.0
You have helped me immensely, thank you.
If you are not posting the "Capture COS/WIP" then no, it
is not debiting and
crediting g/l accounts.
I'm not sure how large your company is and what your
volume of transactions
is, but I started not posting the inventory system and
have found it much
easier with the interface on. It may be something to
consider, but it can
be a can of worms if all of your control accounts are not
set up completely
and correctly.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>] On
Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 1:21 PM
To: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] Using MISC charges to adjust for
material cost using
V6.0
Of course, makes sense. One last questioning of vantage
logic. We do not
have the inventory interface checked in the system
configuration and we do
not run the Inventory/WIP account reconciliation or the
Capture COS/WIP
activity reports. Is vantage still crediting and debiting
G\L accounts in
the background? Thanks again and I hope this question did
not expose my
utter lack of understanding when it comes to G\L accounts
and how vantage
moves money. Thank you.
Explain to them how the system works and what you are
doing to minimize the
error since you know that is how it functions. For us, we
carry very small
quantities of inventory so the total projected error is
small enough to be
deemed immaterial by the auditors and is waived in their
workpapers.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>] On
Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 12:45 PM
To: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] Using MISC charges to adjust for
material cost using
V6.0
Mr Fox
Thank you again for your help. So vantage will move the
cost difference to a
G\L account specified either from the default control
accounts or the
account specified for the misc charge, but it will not
correctly adjust the
cost of the material for inventory. OK, from a CPA
standpoint what do you
say to the auditors when they test costing of material
and there is a
difference between the price in vantage and the price
paid? Again, thank you
for your help.
Paul,
That is exactly the way it works. If A/P just changed the
unit price then
the variance would go to your purchase price variance
account, but since you
are using a misc charge it will go to the g/l a/c
assigned to that charge.
The only way we have found to receive the inventory cost
in at the vendor
price in ($21 vs. $20) is to unreceive the PO, fix the
price and re-receive
it. That has a whole new set of issues so we do not do
this and rather let
the difference go to variance. To prevent this on future
orders we will
update the price list so the new price defaults on the
new PO.
Edward F. Fox, Jr., CPA
Controller
Maxson Automatic Machinery Company
Phone 401-596-0162 . Fax 401-596-1050
<http://www.maxsonautomatic.com> www.maxsonautomatic.com
_____
From: vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>] On
Behalf Of
Paul Smith
Sent: Thursday, April 14, 2011 11:13 AM
To: Vantage (vantage@yahoogroups.com
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>
<mailto:vantage%40yahoogroups.com>)
Subject: [Vantage] Using MISC charges to adjust for
material cost using V6.0
Trying to help figure out what vantage 6.0 is doing. When
paying invoices
there are times when we have to adjust the cost due to
various reasons.
Example, we ordered 100ft spool of common lead wire. 10ft
ordered for job
XYZ, 10ft ordered for job ZYX and the balance will be
ordered to inventory
(80ft). For some reason the cost we initially placed on
the purchase order
is no different from the invoice cost. So the accounting
department will
create misc charges for each of the three lines to get
the correct cost on
the material. They are telling me the two lines for the
jobs will show a
cost adjustment ON THE JOB, but there will be no cost
adjustment to the
inventory side. Example the cost of the 80ft to inventory
was $20.00, we
need to do a misc charge to show that the actual cost is
$21.00. They
conduct the misc charge but the material is still in
stock with the cost of
$20.00, not $21.00. Is using the misc charge the proper
way to adjust for a
different cost of material? If not what is the correct
way to get the proper
cost to inventory. Thanks in advance.
Paul Smith
Inventory Management
233 Ballston Ave
Saratoga Springs NY, 12866
518-245-4358
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]
________________________________
The information contained in this message is intended
solely for the
individual it is specifically and originally addressed.
This message and its
contents may contain confidential or privileged
information. If you are not
the intended recipient, you are hereby notified that any
disclosure or
distribution, or taking any action in reliance on the
content of this
information is strictly prohibited. If you received this
message in error,
please delete it from any computer and notify the sender.
If you suspect
that this message may have been altered, please notify
the sender.
[Non-text portions of this message have been removed]
__________ Information from ESET NOD32 Antivirus, version
of virus signature
database 6041 (20110414) __________
The message was checked by ESET NOD32 Antivirus.
http://www.eset.com
[Non-text portions of this message have been removed]