When to capture and post

Yahoo Archive
1
Thanks. That makes sense. I'll make a new rule similar to yours.



We don't have an accountant here so I have to wear a lot of hats.



Randall Weber

IT Manager

TLC Electronics, Inc.





From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Thomas Rose
Sent: Wednesday, April 29, 2009 9:16 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] When to capture and post








Around month end, I run Capture COS/WIP every couple of days, and I do
it as of a day or two before. (My goal is to have financial statements
available within a couple of days after month end, though I still have
some work to do to get there.)

As far as labor corrections go, there is no way I would wait until the
biweekly payroll date. Every morning, I issue a report to all
supervisors showing the time their employees worked the day before. The
report highlights employees who were absent, who clocked in early or
late or failed to clock in or out. The supervisors make the corrections
immediately. Waiting for up to three weeks after the work happened is a
sure-fire recipe for forgetfulness. Can you honestly tell me exactly
what you were working on this past April 8, and how long you worked on
it? Perhaps YOU can, but I will guarantee that unless employees work on
the same job for days on end, very few can tell you what they were
working on three weeks ago. On the other hand, almost all can accurately
answer the question, "What did you work on yesterday?" Certainly all the
supervisors can accurately answer that question about their employees.

Thom Rose
Controller
Electric Mirror LLC
HOTEL LUXURY

"The World Leader in Back-lit Mirrors & Mirror TV Technology"

T 425 776-4946
A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com>

Note: The information contained in the e-mail, including any
attachments, is legally privileged and confidential. If you are not the
intended recipient you are hereby notified that any reading, use or
dissemination of this message is strictly prohibited. If you have
received this message in error, please immediately notify us by
telephone at 425-776-4946 and delete this message from your system. Even
though this e-mail and any attachments are believed to be free of any
virus or other defect that might affect any computer system into which
it is received and opened, it is the responsibility of the recipient to
ensure that it is virus free, and no responsibility is accepted by
Electric Mirror LLC for any loss or damage arising in any way from its
use

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of Randy
Sent: Wednesday, April 29, 2009 6:59 AM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] When to capture and post

I have an unusual problem. My boss tends to look at our Income and
Balance Statement daily! As a result, he often asks our cost accounting
person to run a capture and post so the COGS are reflected in the
financial reports.

The problem comes when we run payroll and discover that somebody forgot
to clock out for the day. In V6, we were able to use Labor Edit and
correct the time. In V8, we get a message that says Posted at the top of
the Labor Edit screen.

It appears that we cannot make changes to a labor entry if the job
effected has been closed and posted, though in V6 we could. This makes
it hard for us to manage payroll since we can only make the time
corrections in the payroll module - not jobs.

It appears to me that we need to capture and post WIP using a three week
prior cutoff to allow for our bi-weekly payroll to use Labor Edit to
make corrections. Am I getting this? Will the cut-off date only effect
jobs that have been closed prior to the three weeks?

If you reply please tell me how oftern you Capture WIP and what you use
for cut-off dates.

Thanks in advance,

Randy Weber

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





[Non-text portions of this message have been removed]
2
I have an unusual problem. My boss tends to look at our Income and Balance Statement daily! As a result, he often asks our cost accounting person to run a capture and post so the COGS are reflected in the financial reports.

The problem comes when we run payroll and discover that somebody forgot to clock out for the day. In V6, we were able to use Labor Edit and correct the time. In V8, we get a message that says Posted at the top of the Labor Edit screen.

It appears that we cannot make changes to a labor entry if the job effected has been closed and posted, though in V6 we could. This makes it hard for us to manage payroll since we can only make the time corrections in the payroll module - not jobs.

It appears to me that we need to capture and post WIP using a three week prior cutoff to allow for our bi-weekly payroll to use Labor Edit to make corrections. Am I getting this? Will the cut-off date only effect jobs that have been closed prior to the three weeks?

If you reply please tell me how oftern you Capture WIP and what you use for cut-off dates.

Thanks in advance,

Randy Weber
3
Around month end, I run Capture COS/WIP every couple of days, and I do it as of a day or two before. (My goal is to have financial statements available within a couple of days after month end, though I still have some work to do to get there.)

As far as labor corrections go, there is no way I would wait until the biweekly payroll date. Every morning, I issue a report to all supervisors showing the time their employees worked the day before. The report highlights employees who were absent, who clocked in early or late or failed to clock in or out. The supervisors make the corrections immediately. Waiting for up to three weeks after the work happened is a sure-fire recipe for forgetfulness. Can you honestly tell me exactly what you were working on this past April 8, and how long you worked on it? Perhaps YOU can, but I will guarantee that unless employees work on the same job for days on end, very few can tell you what they were working on three weeks ago. On the other hand, almost all can accurately answer the question, "What did you work on yesterday?" Certainly all the supervisors can accurately answer that question about their employees.

Thom Rose
Controller
Electric Mirror LLC
HOTEL LUXURY

"The World Leader in Back-lit Mirrors & Mirror TV Technology"

T 425 776-4946
A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com>

Note: The information contained in the e-mail, including any attachments, is legally privileged and confidential. If you are not the intended recipient you are hereby notified that any reading, use or dissemination of this message is strictly prohibited. If you have received this message in error, please immediately notify us by telephone at 425-776-4946 and delete this message from your system. Even though this e-mail and any attachments are believed to be free of any virus or other defect that might affect any computer system into which it is received and opened, it is the responsibility of the recipient to ensure that it is virus free, and no responsibility is accepted by Electric Mirror LLC for any loss or damage arising in any way from its use


From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Randy
Sent: Wednesday, April 29, 2009 6:59 AM
To: vantage@yahoogroups.com
Subject: [Vantage] When to capture and post





I have an unusual problem. My boss tends to look at our Income and Balance Statement daily! As a result, he often asks our cost accounting person to run a capture and post so the COGS are reflected in the financial reports.

The problem comes when we run payroll and discover that somebody forgot to clock out for the day. In V6, we were able to use Labor Edit and correct the time. In V8, we get a message that says Posted at the top of the Labor Edit screen.

It appears that we cannot make changes to a labor entry if the job effected has been closed and posted, though in V6 we could. This makes it hard for us to manage payroll since we can only make the time corrections in the payroll module - not jobs.

It appears to me that we need to capture and post WIP using a three week prior cutoff to allow for our bi-weekly payroll to use Labor Edit to make corrections. Am I getting this? Will the cut-off date only effect jobs that have been closed prior to the three weeks?

If you reply please tell me how oftern you Capture WIP and what you use for cut-off dates.

Thanks in advance,

Randy Weber



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