We use Average Costing. We just went live in Feb 2021. I have not been able to tie out inventory to the stock status report at all yet (not even close). Why are there differences between these two reports and what causes them? We are concerned that all of our costs are not begin captured because the GL is much higher debit balance than the Stock Status Reports.
Thank you,
Lisa
For many reasons.
#1 would be because the SSR uses the current cost, not the cost on the date selected when running SSR.
Another is that SSR uses the Tran date, which may differ from the apply date which is used for GL Trans.
For example, If July was already closed, and someone enters a PO Recipt on 8/10, with a Receipt date of 7/30, then that will hit the August FP when Capture COS/WIP is run. Running SSR with a 7/30 date would include that backdated receipt on the report. But it would not be in the GL trans for July.
@lfilzen Epicor specifically states that Stock Status is NOT a GL balancing report. You will find a lot of post of dashboards that come close, but not quite nailing the GL balance to inventory.
FWIW - You should never make journal entries to the Inventory or WIP accounts. Our accountants would often do that, thinking that Epicor messed up some how, and that they had to correct it. Onl;y to find out that Epicor had worked properly, and now they had to do a JE to undo their original “fix”
Thank you. We do set our “earliest apply date” on the last day of each month, so you should never be able to enter a receipt in the previous month - correct? I thought this was the intent on Earliest Apply Date.
To add on to @gpayne 's comment, you’re probably better off using the Inv/WIP Recon report. I’m pretty sure there is an option to limit the trans reported to a specific GL, and whether or not to include the offsetting account for each trans that matched the desired GL acct. And try both date methods (Trans Date vs System Date)
How do you gain confidence in your GL numbers if the SSR is so far off? We did make an AJE last month. I am concerned we are not fully capturing our costs to COGS.
Yes. That is the proper use of Earliest Apply date. It is an under utilized feature (in my opinion).
But there are other ways that tran dates can get out of whack, then these would conflict with what you might expect in the GL.
A good understanding of the magic behind the “Periodic Posting Process” entries you see in the GL, will go a long way.
One of the things that that bit us early on in Epicor (way back in V8), was costs getting “orphaned” in WIP. Particularly when costs were added to a job (like for a missing material issue) after the job had shipped. They remain in the WIP GL until the job is closed. Then they will make a MFG-VAR transactions to reduce WIP, and hit the specified variance account, when they should be COGS.
@ckrusen this makes sense and I do look at the end of each month for items that shipped, but still had an open job and we clean them up before month end. The only ones that have sat out there have been minimal. One question - do they remain in WIP until the job is CLOSED or COMPLETE? We have not closed out any jobs yet, but we complete them very timely.
Do you mean dashboards that people have created to try and tie out the GL numbers?
@lfilzen Yes. Depending on your costing method, lot tracking, etc you can get fairly close, but exact would be the holy grail of costing. Mine is off by less than $1000 and we keep moving.
Can you share the dashboard that you use to tie out your GL? What costing method do you use?
What exactly is the Stock Status report even good for if the numbers are so far off from the GL? I am trying to understand how all of this flows through. Thank you.
@lfilzen We use Lot FIFO, FIFO and standard, but I think I tried to get to Average as that is closest to matching the GL.
Stock Status with Activity.dbd (164.6 KB)
You have to logon to EpicCare first. Link on EpicCare about GL balancing and Stock Status.
https://epiccare.epicor.com/epiccare?id=epiccare_kb_article&sys_id=c48f1972dbb1eb80443cc55305961964