Financials Blank Title 60693

This just does not make sense to me. This is the response I
recieved. Not that I know anything about accounting though.

"Scrap needs to be expensed when incurred...it cannot be part of
WIP/Inventory. (It IS part of job costing)"


We are going to try and get some other parties involved in our
issues to see if it will help..




--- In vantage@yahoogroups.com, "bpbuechler" <pbuechler@...> wrote:
>
> Vantage allows you to report scrap, but Vantage does not decide
how
> to account for it.
>
> It really boils down to what your company decides is cost of poor
> quality, not the value of scrap. When you plan an operation, you
> plan scrap. Because you plan scrap, it is then assumed the cost
of
> that planned scrap is part of the cost to manufacture that
operation
> (WIP).
>
> You could always write a little dashboard that if the labor
reported
> scrap was higher than the opertion planned scrap...then pull the
cost
> buckets to mutliply the excess scrap qty to get cost.
>
> Alternatively, we contiplated using the Fail from NC and then
using
> DMR to send the $'s to different accounts. But it just put a lot
> more work on our QA staff and muddied the Inspection Queue. What
is
> scrap vs true nonconformance...?
>
> It becames the responsibility of a Quality Manager and a Cost
> Analayst to determine what caused the excess scrap was and
determine
> if it was a Cost of Poor Quality or a Cost of Manufacturing.
>
> Thanks
> Patty Buechler
> UV Color, Inc.
>
>
> --- In vantage@yahoogroups.com, "Michael McWilliams"
> <mmcwilliams22@> wrote:
> >
> > Yes, we are on 8.03 & we are using the Quality Module. In MES
> > during end activity scrap is reported but we are not seeing how
we
> > set what account it goes to. Also when we issue excess material
to
> > the job to account for the extra scrap. We produce large amounts
of
> > scrap in many cases, but it is not our standard scrap) it just
> shows
> > the cost of the extra material issued in WIP and cannot tell how
we
> > segregate.
> >
> > --- In vantage@yahoogroups.com, "Geary, Stephanie" <sgeary@>
> > wrote:
> > >
> > > I am assuming you are on Vantage 8 but my question is, are you
> > using the
> > > Quality Module. You can have scrap be broken out and go to a
> scrap
> > > account. It will then leave WIP and be expensed for the month
it
> > is
> > > rejected...
> > >
> > >
> > >
> > > ________________________________
> > >
> > > From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
On
> > Behalf
> > > Of Michael McWilliams
> > > Sent: Thursday, November 15, 2007 3:06 PM
> > > To: vantage@yahoogroups.com
> > > Subject: [Vantage] Financials
> > >
> > >
> > >
> > > Any help with these questions would be greatly appreciated. We
> > have
> > > ran into some bumps regarding accounting procedures in
Vantage.
> > > These are the questions our controller is looking for answers
on.
> > > It seems epicor is of no help to her. These questions are
being
> > > raised in the aspect of how other manufacturers are handling
the
> > > issues.
> > >
> > > 1. How have they captured for (immediate) expense job
> > manufacturing
> > > costs such as production scrap which should not be carried as
> part
> > > of inventory value?
> > >
> > > 2. If done manually, how do they reduce Vantage's automated
COS
> > > activity by any previous manual correction?
> > >
> > > 3. Also, if done manually, (how) are they able to utilize
interim
> > > financial reporting?
> > >
> > > 4. How do they achieve a break-down of Ending WIP and Ending
> > > Inventory to account for Material vs. Overhead for financial
> > > statement reporting?
> > >
> > >
> > > This message has been processed via your triumphgroup.com e-
mail
> > > address.
> > >
> > >
> > >
> > > [Non-text portions of this message have been removed]
> > >
> >
>
Any help with these questions would be greatly appreciated. We have
ran into some bumps regarding accounting procedures in Vantage.
These are the questions our controller is looking for answers on.
It seems epicor is of no help to her. These questions are being
raised in the aspect of how other manufacturers are handling the
issues.

1. How have they captured for (immediate) expense job manufacturing
costs such as production scrap which should not be carried as part
of inventory value?

2. If done manually, how do they reduce Vantage's automated COS
activity by any previous manual correction?

3. Also, if done manually, (how) are they able to utilize interim
financial reporting?

4. How do they achieve a break-down of Ending WIP and Ending
Inventory to account for Material vs. Overhead for financial
statement reporting?
I am assuming you are on Vantage 8 but my question is, are you using the
Quality Module. You can have scrap be broken out and go to a scrap
account. It will then leave WIP and be expensed for the month it is
rejected...



________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Michael McWilliams
Sent: Thursday, November 15, 2007 3:06 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Financials



Any help with these questions would be greatly appreciated. We have
ran into some bumps regarding accounting procedures in Vantage.
These are the questions our controller is looking for answers on.
It seems epicor is of no help to her. These questions are being
raised in the aspect of how other manufacturers are handling the
issues.

1. How have they captured for (immediate) expense job manufacturing
costs such as production scrap which should not be carried as part
of inventory value?

2. If done manually, how do they reduce Vantage's automated COS
activity by any previous manual correction?

3. Also, if done manually, (how) are they able to utilize interim
financial reporting?

4. How do they achieve a break-down of Ending WIP and Ending
Inventory to account for Material vs. Overhead for financial
statement reporting?


This message has been processed via your triumphgroup.com e-mail
address.



[Non-text portions of this message have been removed]
Yes, we are on 8.03 & we are using the Quality Module. In MES
during end activity scrap is reported but we are not seeing how we
set what account it goes to. Also when we issue excess material to
the job to account for the extra scrap. We produce large amounts of
scrap in many cases, but it is not our standard scrap) it just shows
the cost of the extra material issued in WIP and cannot tell how we
segregate.

--- In vantage@yahoogroups.com, "Geary, Stephanie" <sgeary@...>
wrote:
>
> I am assuming you are on Vantage 8 but my question is, are you
using the
> Quality Module. You can have scrap be broken out and go to a scrap
> account. It will then leave WIP and be expensed for the month it
is
> rejected...
>
>
>
> ________________________________
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf
> Of Michael McWilliams
> Sent: Thursday, November 15, 2007 3:06 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Financials
>
>
>
> Any help with these questions would be greatly appreciated. We
have
> ran into some bumps regarding accounting procedures in Vantage.
> These are the questions our controller is looking for answers on.
> It seems epicor is of no help to her. These questions are being
> raised in the aspect of how other manufacturers are handling the
> issues.
>
> 1. How have they captured for (immediate) expense job
manufacturing
> costs such as production scrap which should not be carried as part
> of inventory value?
>
> 2. If done manually, how do they reduce Vantage's automated COS
> activity by any previous manual correction?
>
> 3. Also, if done manually, (how) are they able to utilize interim
> financial reporting?
>
> 4. How do they achieve a break-down of Ending WIP and Ending
> Inventory to account for Material vs. Overhead for financial
> statement reporting?
>
>
> This message has been processed via your triumphgroup.com e-mail
> address.
>
>
>
> [Non-text portions of this message have been removed]
>
We are still on 6.1 so I will have to bow out .. the account number goes
into the G/L Control Accounts for DMR Write Off for us I don't know for
you..



________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Michael McWilliams
Sent: Thursday, November 15, 2007 3:21 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Re: Financials



Yes, we are on 8.03 & we are using the Quality Module. In MES
during end activity scrap is reported but we are not seeing how we
set what account it goes to. Also when we issue excess material to
the job to account for the extra scrap. We produce large amounts of
scrap in many cases, but it is not our standard scrap) it just shows
the cost of the extra material issued in WIP and cannot tell how we
segregate.

--- In vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ,
"Geary, Stephanie" <sgeary@...>
wrote:
>
> I am assuming you are on Vantage 8 but my question is, are you
using the
> Quality Module. You can have scrap be broken out and go to a scrap
> account. It will then leave WIP and be expensed for the month it
is
> rejected...
>
>
>
> ________________________________
>
> From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf
> Of Michael McWilliams
> Sent: Thursday, November 15, 2007 3:06 PM
> To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> Subject: [Vantage] Financials
>
>
>
> Any help with these questions would be greatly appreciated. We
have
> ran into some bumps regarding accounting procedures in Vantage.
> These are the questions our controller is looking for answers on.
> It seems epicor is of no help to her. These questions are being
> raised in the aspect of how other manufacturers are handling the
> issues.
>
> 1. How have they captured for (immediate) expense job
manufacturing
> costs such as production scrap which should not be carried as part
> of inventory value?
>
> 2. If done manually, how do they reduce Vantage's automated COS
> activity by any previous manual correction?
>
> 3. Also, if done manually, (how) are they able to utilize interim
> financial reporting?
>
> 4. How do they achieve a break-down of Ending WIP and Ending
> Inventory to account for Material vs. Overhead for financial
> statement reporting?
>
>
> This message has been processed via your triumphgroup.com e-mail
> address.
>
>
>
> [Non-text portions of this message have been removed]
>


This message has been processed via your triumphgroup.com e-mail
address.



[Non-text portions of this message have been removed]
Vantage allows you to report scrap, but Vantage does not decide how
to account for it.

It really boils down to what your company decides is cost of poor
quality, not the value of scrap. When you plan an operation, you
plan scrap. Because you plan scrap, it is then assumed the cost of
that planned scrap is part of the cost to manufacture that operation
(WIP).

You could always write a little dashboard that if the labor reported
scrap was higher than the opertion planned scrap...then pull the cost
buckets to mutliply the excess scrap qty to get cost.

Alternatively, we contiplated using the Fail from NC and then using
DMR to send the $'s to different accounts. But it just put a lot
more work on our QA staff and muddied the Inspection Queue. What is
scrap vs true nonconformance...?

It becames the responsibility of a Quality Manager and a Cost
Analayst to determine what caused the excess scrap was and determine
if it was a Cost of Poor Quality or a Cost of Manufacturing.

Thanks
Patty Buechler
UV Color, Inc.


--- In vantage@yahoogroups.com, "Michael McWilliams"
<mmcwilliams22@...> wrote:
>
> Yes, we are on 8.03 & we are using the Quality Module. In MES
> during end activity scrap is reported but we are not seeing how we
> set what account it goes to. Also when we issue excess material to
> the job to account for the extra scrap. We produce large amounts of
> scrap in many cases, but it is not our standard scrap) it just
shows
> the cost of the extra material issued in WIP and cannot tell how we
> segregate.
>
> --- In vantage@yahoogroups.com, "Geary, Stephanie" <sgeary@>
> wrote:
> >
> > I am assuming you are on Vantage 8 but my question is, are you
> using the
> > Quality Module. You can have scrap be broken out and go to a
scrap
> > account. It will then leave WIP and be expensed for the month it
> is
> > rejected...
> >
> >
> >
> > ________________________________
> >
> > From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
> Behalf
> > Of Michael McWilliams
> > Sent: Thursday, November 15, 2007 3:06 PM
> > To: vantage@yahoogroups.com
> > Subject: [Vantage] Financials
> >
> >
> >
> > Any help with these questions would be greatly appreciated. We
> have
> > ran into some bumps regarding accounting procedures in Vantage.
> > These are the questions our controller is looking for answers on.
> > It seems epicor is of no help to her. These questions are being
> > raised in the aspect of how other manufacturers are handling the
> > issues.
> >
> > 1. How have they captured for (immediate) expense job
> manufacturing
> > costs such as production scrap which should not be carried as
part
> > of inventory value?
> >
> > 2. If done manually, how do they reduce Vantage's automated COS
> > activity by any previous manual correction?
> >
> > 3. Also, if done manually, (how) are they able to utilize interim
> > financial reporting?
> >
> > 4. How do they achieve a break-down of Ending WIP and Ending
> > Inventory to account for Material vs. Overhead for financial
> > statement reporting?
> >
> >
> > This message has been processed via your triumphgroup.com e-mail
> > address.
> >
> >
> >
> > [Non-text portions of this message have been removed]
> >
>
In Company Maintenance under QA, be sure and check "Move Costs to
DMR". - Monte Tomerlin

--- In vantage@yahoogroups.com, "Geary, Stephanie" <sgeary@...> wrote:
>
> I am assuming you are on Vantage 8 but my question is, are you
using the
> Quality Module. You can have scrap be broken out and go to a scrap
> account. It will then leave WIP and be expensed for the month it is
> rejected...
>
>
>
> ________________________________
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
Behalf
> Of Michael McWilliams
> Sent: Thursday, November 15, 2007 3:06 PM
> To: vantage@yahoogroups.com
> Subject: [Vantage] Financials
>
>
>
> Any help with these questions would be greatly appreciated. We have
> ran into some bumps regarding accounting procedures in Vantage.
> These are the questions our controller is looking for answers on.
> It seems epicor is of no help to her. These questions are being
> raised in the aspect of how other manufacturers are handling the
> issues.
>
> 1. How have they captured for (immediate) expense job manufacturing
> costs such as production scrap which should not be carried as part
> of inventory value?
>
> 2. If done manually, how do they reduce Vantage's automated COS
> activity by any previous manual correction?
>
> 3. Also, if done manually, (how) are they able to utilize interim
> financial reporting?
>
> 4. How do they achieve a break-down of Ending WIP and Ending
> Inventory to account for Material vs. Overhead for financial
> statement reporting?
>
>
> This message has been processed via your triumphgroup.com e-mail
> address.
>
>
>
> [Non-text portions of this message have been removed]
>