All;
There is another way to track expenses for Factory Supplies.
Because we did not want a GL Account & Part Class for every single
machine, there is this thing called Reference Types. The great
advantage of using this is you can have one GL Account like Repairs &
Maintenance setup for each Job Costing/GL Department. Then based on
the Reference Code chosen during the Purchase, you can run a variety
of reports based on the Reference Type. We created a reference type
for each machine on the floor.
Here is how you set it up:
Reference Type in PO/Line/Release Screen
1. Enter Chart Number – 6720
2. Create Chart of Accounts – 00-6720-00
3. Create Reference Type – Equipment
3a. Add 2 Codes - 600 Ton Press & 400 Ton Press
4. Create Account Reference - _ _ - 6720 - _ _
4a. Reference Status - `Required'
4b. Highlight Reference Type – Equipment and move to `Selected'
5. Create Part Class – Equipment Repair
5a. Select the Chart of Account – 00-6720-00
You can either enter a Requistion (shop floor requesting a part for a
machine) or PO Entry...it works the same.
6. Enter PO Header
7. Enter PO Line
8. Click `Other' Toggle
9. Part Number – Type in `Equipment Repair'
10. Description – Type in `600 Ton Press'
11. Select Part Class – Equipment Repair
12. Enter Due Date
13. Enter Quantity
14. Enter Unit Price
15. Save
16. Click on "Release' Tab
17. Verify COA – 00-6720-00 appears in the `G/L Account' field
18. Click on the Reference Type and select the correct Reference
Type. The GL Account should change according to what Finance has
setup in the Account Reference.
Hope this helps.
Patty Buechler
UV Color, Inc.
There is another way to track expenses for Factory Supplies.
Because we did not want a GL Account & Part Class for every single
machine, there is this thing called Reference Types. The great
advantage of using this is you can have one GL Account like Repairs &
Maintenance setup for each Job Costing/GL Department. Then based on
the Reference Code chosen during the Purchase, you can run a variety
of reports based on the Reference Type. We created a reference type
for each machine on the floor.
Here is how you set it up:
Reference Type in PO/Line/Release Screen
1. Enter Chart Number – 6720
2. Create Chart of Accounts – 00-6720-00
3. Create Reference Type – Equipment
3a. Add 2 Codes - 600 Ton Press & 400 Ton Press
4. Create Account Reference - _ _ - 6720 - _ _
4a. Reference Status - `Required'
4b. Highlight Reference Type – Equipment and move to `Selected'
5. Create Part Class – Equipment Repair
5a. Select the Chart of Account – 00-6720-00
You can either enter a Requistion (shop floor requesting a part for a
machine) or PO Entry...it works the same.
6. Enter PO Header
7. Enter PO Line
8. Click `Other' Toggle
9. Part Number – Type in `Equipment Repair'
10. Description – Type in `600 Ton Press'
11. Select Part Class – Equipment Repair
12. Enter Due Date
13. Enter Quantity
14. Enter Unit Price
15. Save
16. Click on "Release' Tab
17. Verify COA – 00-6720-00 appears in the `G/L Account' field
18. Click on the Reference Type and select the correct Reference
Type. The GL Account should change according to what Finance has
setup in the Account Reference.
Hope this helps.
Patty Buechler
UV Color, Inc.
--- In vantage@yahoogroups.com, "Jim Frice" <Jim.Frice@...> wrote:
>
> Using a nonnettable and having a part class with the g/l assigned as
> your expense account should work. The receipt will then hit your po
> clearing and the expense account.
>
> Jim
>
>
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
> Behalf Of best3175
> Sent: Friday, December 21, 2007 1:33 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Re: Factory Supplies - Expense items
>
>
>
> We do the same with a bin stocking supplier, but I would like a way
> to track the items in Vantage. Purchase history like price and
> Yearly usage would be helpful over time. But I have not found a way
> for Vantage to support this because the item would need to expensed
> when purchased.
>
> I have tried using Nonnettable inventory locations, but I can't see
> where this is expensed to the correct account.
>
> --- In vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ,
Todd
> Caughey <caugheyt@> wrote:
> >
> > We use a supplier who manages the inventory and keeps the stock
at
> a certain level. Sort of like a "keep full" plan for home heating
> oil. We keep a casual track of disbursements to match usage to the
> bills. The labor time savings more than covers minor discrepancies
> or a little higher cost over shopping around.
> > -Todd C.
> >
> > ________________________________
> > From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> [mailto:vantage@yahoogroups.com <mailto:vantage%
40yahoogroups.com> ] On
> Behalf Of rmrindler
> > Sent: Friday, December 21, 2007 12:25 PM
> > To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> > Subject: [Vantage] Factory Supplies - Expense items
> >
> >
> > I was wondering what other companies are doing to keep track of
> their
> > factory supplies in Vantage. This could include shipping boxes,
> trays,
> > gloves, etc. that are expense items that you don't want to
maintain
> > inventory of in Vantage, but you would like the parts to show up
in
> the
> > part master for purchasing reasons.
> >
> > We have avoided setting them up in the part master in the past,
> because
> > we have no intentions of ever "relieving" or tracking the
inventory
> in
> > Vantage. We just want to be able to select the part number when
> > filling out POs.
> >
> > Any suggestions?
> >
> > Thanks!
> >
> > Ryan Rindler
> > Norwood Tool Company
> > 937-228-4101
> >
> >
> >
> >
> >
> > [Non-text portions of this message have been removed]
> >
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>