I am in Costing and new to my current company. First of the year, I worked through the entire Cost Roll Process for all inventory. In going through my predecessor’s work instructions, I found something on rolling inventory during the year that updates new costs and updates costs. The instructions are from over 20 years ago and do not reflect the current software. Does anyone have more current instructions for running incremental cost roll-ups in Epicor that does not cause a financial impact?
@pam_j3433
I have a few questions for you. Are all of your parts using the same cost method, and which cost method are you using? Standard, Average, Last (for example).
Why are you rolling costs mid year and hoping to have no financial impact, is this for quoting only? Did you know epicor tracks standard, average, and last cost for you? You can see this in part tracker.
You can roll the costs anytime, however this will most likely lead to a financial impact because your inventory valuation will change.
With a little more info from you we can probably get you where you need to be.
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Bryan,
Thank you for responding.
We are using cost method Standard for Sales Quotes.
We use Acct Value for Financial Reporting.
Yes, I am to limit any financial impact as much as possible, if at all.
I use a Cost.Rollup function for daily parts added/updated. Rolling from Standard to Acct Value.
With no current inventory on newly added parts and newly engineered parts, there is no financial impact.
For new manufactured parts/motors, this takes all purchased part components and rolls to reflect all new costs.
But, is there an EPICOR function for updating manufactured machines that have the new/updated part(s) as cost components?
I believe the favorable outcome would be for Standard costs be updated so that Sales has the most current margins.
Rolling the opposite direction, with a new purchased/manufactured part that is a component on a final machine.
My 20-year-old instructions (which are currently not being done); “On a weekly basis the Current Cost Set is rolled. This would reflect the current purchase (only if cost accounting updates), routing changes and bill of material changes.”
My thought, this only captures cost changes to already active parts.
But what other process is beneficial to inventory accuracy and accurate Sales quotes?
The entire inventory cost rollup process for Standard is limited to first day of fiscal year, with the financial impact reported for Inventory valuation and Financial Reporting.
