When do job costs post in Vantage 8.0?

I think Job costs flow to Cost Of Sales when the job is shipped.

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Tom Ketterer
Sent: Friday, 21 August 2009 3:26 AM
To: vantage@yahoogroups.com
Subject: [Vantage] When do job costs post in Vantage 8.0?




Hi all - I have been seeing varying results in when job costs actually
hit the general ledger. The Vantage user manual states that the Capture
COS/WIP Activity process will caclulate the Cost of Sales and WIP
amounts based on the jobs that are set to "Closed" in the system. I
have some jobs that seem work this way and I also have other jobs that
end up showing in Cost of Sales when the job isn't closed as well. The
jobs in this second category seem to be jobs that are built with a main
job and then components flowing in from other jobs that are tied to it.

I realize that every install of Vantage is different and everyone has
their own way of doing this but is there any way to find out what cost
will post from which jobs, when this happens and what the 'triggers' are
for this. It almost appears to be that when a packing slip is generated
the costs can start to flow, even if the job is not completed or closed.

We don't close our jobs until about 30 day after completion to ensure
all costs get billed to the job for late or unusual items (duties,
brokerage, etc.) It is currently causing a lot of extra work to make
sure the costs are being posted in the same month we invoice and
recognize the revenue.

Thanks

Tom

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[Non-text portions of this message have been removed]
Hi all - I have been seeing varying results in when job costs actually hit the general ledger. The Vantage user manual states that the Capture COS/WIP Activity process will caclulate the Cost of Sales and WIP amounts based on the jobs that are set to "Closed"  in the system. I have some jobs that seem work this way and I also have other jobs that end up showing in Cost of Sales when the job isn't closed as well. The jobs in this second category seem to be jobs that are built with a main job and then components flowing in from other jobs that are tied to it.

I realize that every install of Vantage is different and everyone has their own way of doing this but is there any way to find out what cost will post from which jobs, when this happens and what the 'triggers' are for this. It almost appears to be that when a packing slip is generated the costs can start to flow, even if the job is not completed or closed.

We don't close our jobs until about 30 day after completion to ensure all costs get billed to the job for late or unusual items (duties, brokerage, etc.)  It is currently causing a lot of extra work to make sure the costs are being posted in the same month we invoice and recognize the revenue.

Thanks

Tom




[Non-text portions of this message have been removed]
There was a piece of logic in 6.1 that may be carrying over into 8 that
you might want to look check. Costs on a job will flow to the GL when
it's not closed -IF- the quantity completed meets the required quantity.
So, you have a job for 100 pcs, it's not closed yet but you've reported
100 pieces complete at the final operation...the costs will flow to the
GL during COS/Wip capture.



Mike



From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Tom Ketterer
Sent: Thursday, August 20, 2009 10:26 AM
To: vantage@yahoogroups.com
Subject: [Vantage] When do job costs post in Vantage 8.0?





Hi all - I have been seeing varying results in when job costs actually
hit the general ledger. The Vantage user manual states that the Capture
COS/WIP Activity process will caclulate the Cost of Sales and WIP
amounts based on the jobs that are set to "Closed" in the system. I
have some jobs that seem work this way and I also have other jobs that
end up showing in Cost of Sales when the job isn't closed as well. The
jobs in this second category seem to be jobs that are built with a main
job and then components flowing in from other jobs that are tied to it.

I realize that every install of Vantage is different and everyone has
their own way of doing this but is there any way to find out what cost
will post from which jobs, when this happens and what the 'triggers' are
for this. It almost appears to be that when a packing slip is generated
the costs can start to flow, even if the job is not completed or closed.

We don't close our jobs until about 30 day after completion to ensure
all costs get billed to the job for late or unusual items (duties,
brokerage, etc.) It is currently causing a lot of extra work to make
sure the costs are being posted in the same month we invoice and
recognize the revenue.

Thanks

Tom

[Non-text portions of this message have been removed]




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[Non-text portions of this message have been removed]
Not sure if this is in Vantage 8.0, but it is definitely in Vantage
8.03, if you go to the help, search for Job Costing. There is a huge
technical guide in there that should / could be your bible for this.

It will explain a whole lot to you and is an excellent resource if you
are like me and are not a financial person. I warn you, it is 450 pages
long!

IF it isn't there, I can email it to you off list.



M. Manasa Reddy
manasa@...
P: 630-806-2000
F: 630-806-2001


________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Tom Ketterer
Sent: Thursday, August 20, 2009 12:26 PM
To: vantage@yahoogroups.com
Subject: [Vantage] When do job costs post in Vantage 8.0?




Hi all - I have been seeing varying results in when job costs actually
hit the general ledger. The Vantage user manual states that the Capture
COS/WIP Activity process will caclulate the Cost of Sales and WIP
amounts based on the jobs that are set to "Closed" in the system. I
have some jobs that seem work this way and I also have other jobs that
end up showing in Cost of Sales when the job isn't closed as well. The
jobs in this second category seem to be jobs that are built with a main
job and then components flowing in from other jobs that are tied to it.

I realize that every install of Vantage is different and everyone has
their own way of doing this but is there any way to find out what cost
will post from which jobs, when this happens and what the 'triggers' are
for this. It almost appears to be that when a packing slip is generated
the costs can start to flow, even if the job is not completed or closed.

We don't close our jobs until about 30 day after completion to ensure
all costs get billed to the job for late or unusual items (duties,
brokerage, etc.) It is currently causing a lot of extra work to make
sure the costs are being posted in the same month we invoice and
recognize the revenue.

Thanks

Tom

[Non-text portions of this message have been removed]






[Non-text portions of this message have been removed]