Pick one the your jobs with the biggest negative and check a few things out
-
There are a lot of reasons your job can be negative - here are some
examples:
1.) Is your standard correct?
2.) Did all the cost get into the job - material, labor, subcontract,
etc?
3.) Did you over receive/ship/ issue more than the Production Qty on the
job?
4.) Did you close the job without the receive/ship/issue transaction -
reopen and then do receive/ship/issue transaction?
5.) If you are using the Quality module did you do a non-conformance and
any material/operation and the material/operation was not returned to the
job?
When I use receive/ship/issue - these are 3 things that will take cost out
of a job (and there might be more like non-conformance). They are:
1.) Job receipt to Inventory
2.) Job receipt to Job
3.) Ship on a Sales order from a job
If you close this job via job closing. Run the Inventory WIP Reconcilation
report. You can narrow this report by filtering by the job.
You might want to choose the option under GL Posting detail to both.
You should see a MFG-VAR transaction. This should post to the Manufacturing
Variance account. It should also bring the WIP job to a 0 balance.
From:
vantage@yahoogroups.com [mailto:
vantage@yahoogroups.com] On Behalf Of
Ree Pruehs
Sent: Tuesday, March 05, 2013 6:08 AM
To:
vantage@yahoogroups.com
Subject: RE: [Vantage] WIP report
Cathy: I am told we are using standard costing.
Ree
From:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf
Of Cathy
Sent: Monday, March 04, 2013 1:54 PM
To:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] WIP report
What costing method are you using?
This will help answer the question.
From:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of
Ree Pruehs
Sent: Monday, March 04, 2013 11:37 AM
To:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] WIP report
This is a resend. Any help appreciated. Thanks!
Query: What is the best way to remove the negative? (Again, using
Vantage 9.05.700C) -
Thanks!
Ree
From:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf
Of Deirdre Sykes
Sent: Thursday, February 21, 2013 10:43 AM
To:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] WIP report
No, if you build to stock, the negative is a result of the actual cost
being lower than the cost method of inventory.
Deirdre
From:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of Lori Buck
Sent: Thursday, February 21, 2013 9:32 AM
To:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] WIP report
Would this also be the case if you build a job to a Sales Order but ship
from stock?
From:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of Cathy
Sent: Wednesday, February 20, 2013 4:41 PM
To:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: RE: [Vantage] WIP report
C.O.S - When you build a job to a Sales Order and ship from that job -
this
number is what came out of WIP and when to the Cost of Sales.
WIP - is the dollars remaining.
If you WIP report is negative then you might have problems with:
1.) Issue material to the job
2.) If you track labor $ are they getting into the job
3.) If you send the job out for value added work - are the subcontract
cost in the job.
From:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of
Ree Pruehs
Sent: Wednesday, February 20, 2013 12:34 PM
To:
vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] WIP report
Good afternoon, all!
We are using Vantage 9.05.700C and have the following questions:
On the Work in Process report, what drives the following data:
C.O.S.
WIP
Our WIP report is currently negative and we are trying to locate the
root cause.
Thank you!
Ree
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