Re: balancing G/L to Inventory -- MAPICS-L

   Thanks Bob

    

     one last question, concern.  If we use the clearing account and

   DR this account for the IS and CR for the IX,  we are concerned that we
   will not IX all that we IS...some will get lost, etc, and this acct will
   grow over time, to exceed reality.  I heard you mention that the flr stk
   items would have to be counted, and valued to compare to this GL acct
   balance.

     1.  The IX occurs when the MO opens,  this may be weeks before we
   actually relieve the flr stk inv.  How would we ever be sure of the count,
   i.e. what has and hasnt been obsorbed onto MO(s).

    

   2.  There is no facility to give a bal in mapics, we'd have to develope
   wrap code to enter a count and extend by unit cost - right ?

    

   Thanks much for your time in this matter.

    

   Jeff Snyder,  CPIM

   Mapics Consultant

    

   From: "Bob Tenney" <BOBTENNEY@xxxxxxxxxxxxx>
   Reply-To: MAPICS ERP System Discussion <MAPICS-L@xxxxxxxxxxxx>
   To: "MAPICS ERP System Discussion" <MAPICS-L@xxxxxxxxxxxx>
   Subject: Re: balancing G/L to Inventory
   Date: Thu, 7 Aug 2003 13:33:11 -0400
   Jeff, I believe that using a clearing account is your best choice.
   The alternative is to make no G/L entry for the IS transaction and debit
   WIP / credit Inventory for the IX transaction. This method is correct from
   an accounting viewpoint and it avoids the "standard cost change" problem
   discussed previously. But, it means that your G/L balances will be out of
   synch with IM. If you use uncontrolled floor stock for low cost items the
   difference might be so small that it is not a concern.
   If you go down the single entry path, you must:
   a.. Use the Item Accounting Class or the Item Number to identify
   uncontrolled floor stock items to the G/L interface.
   b.. Define rules so that the G/L interface debits and credits the same
   account when it processes an uncontrolled floor stock item.
   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>
   Sent: Thursday, August 07, 2003 12:21 PM
   Subject: Re: balancing G/L to Inventory
   > Thanks Bob, hoping you would reply
   >
   >
   >
   > Do you agree with the IS of uncntrl F/S performing a CR to WH Inv
   >
   > and a DR to Uncntrl F/S account.
   >
   >
   >
   > then having the IX perform the CR to Uncntrl F/S
   >
   > and a DR to the WIP account
   >
   >
   >
   > Thanks again
   >
   >
   >
   > Jeff Snyder, CPIM
   >
   > Mapics Consultant
   >
   > From: "Bob Tenney" <BOBTENNEY@xxxxxxxxxxxxx>
   > Reply-To: MAPICS ERP System Discussion <MAPICS-L@xxxxxxxxxxxx>
   > To: "MAPICS ERP System Discussion" <MAPICS-L@xxxxxxxxxxxx>
   > Subject: Re: balancing G/L to Inventory
   > Date: Wed, 6 Aug 2003 18:24:18 -0400
   > 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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