Re: balancing G/L to Inventory

["Bob Tenney" <bobtenney@xxxxxxxxxxxxx>]

Jeff, When you move inventory from a warehouse to uncontrolled floor stock it 
is a non-event from an accounting viewpoint because the items have not been 
transformed in any way--only their physical location has been changed.

Uncontrolled floor stock is, by definition, uncontrolled and MAPICS does not 
track its physical balances once you issue the IS transaction. This means that 
there is no way to reconcile the G/L balances to physical inventory other than 
manually counting the uncontrolled floor stock on the floor.

If there are significant increases in your standard costs, it is possible for 
your floor stock clearing account to have a negative balance because the unit 
cost for the IX transaction is greater than the unit cost for the preceding IS 
transaction.

The bottom line is that there are only two things that you can do in this 
situation:

  a.. Make sure that uncontrolled floor stock is only used for low value items 
so the exposure from not being able to track them is minimal.
  b.. Classify high value items as controlled floor stock so they can be 
tracked from a MAPICS work in process area.


Bob Tenney
Bob Tenney Solutions, LLC
MAPICS - FRx - Presence - Crystal Reports
828-526-8976

Visit www.tenneypubs.com for books about
IFM, COM, G/L Interfaces
Info WorkPlace, Cost Accounting, 
FRx, and PRESENCE
----- Original Message ----- 
From: "Jeff Snyder" <jeffreygsnyder@xxxxxxxxxxx>
To: <mapics-l@xxxxxxxxxxxx>
Cc: <robert_zampogna@xxxxxxx>; <bob.tenney@xxxxxxxxxxxxx>
Sent: Tuesday, August 05, 2003 4:24 PM
Subject: balancing G/L to Inventory


>    hey guys - looking for help, advise here.
>     
>    we would like to interface IM to GL.
>     
>    issues is with Uncontrolled Floor stock
>     
>    If we book the 'IS'  misc issue,  (reduces INV onhand, one sided)
>     but in G/L   cr - Inv  dr - flr stk inv
>     
>     and  book the 'IX'  (when MO opens an IX is generated, along with
>    applying $$ to MO)   as a cr to this flr stock acct  and dr WIP.
>     
>    We will have our WIP in sync with G/L
>     
>    ?? is How do we reconcile this G/L acct (Flf stk) with reality ??
>     
>    (There is no Onhand at this point in mapics )
>     
>    we are afraid this account will grow over time .
>     
>    Any advise would help
>     
>    Jeff Snyder, CPIM
>    Mapics Consultant
> 
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