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  1.  Home
  2. MAPICS-L
  3. August 2003

Re: balancing G/L to Inventory

Jeff, In MAPICS "uncontrolled floor stock" means "UNCONTROLLED floor stock". 
Once you IS the stock out of the warehouse its gone as far as MAPICS is 
concerned. Here is a list of ways that you can end up with an unreasonable 
balance in the control account:

  a.. The standard cost changes between the time you issue the IS and the IX.
  b.. I assume that you use the IS transaction for issues other than controlled 
floor stock and that you use the Item Code or Item Accounting Class to identify 
uncontrolled floor stock items. If this is so, then changing these codes on the 
Item Master could result in problems.
  c.. The IX is based on your bill of materials quantities. If they are 
wrong....
  d.. The IX quantities are based on MO quantities adjusted for expected yield 
loss. If the actual yield loss is different....
  e.. Uncontrolled floor stock inventory may be misappropriated or scrapped. 
When this happens, the rules for the IM transaction that you enter have to 
credit the control account. Otherwise.... 
If you are not comfortable with these risks there are three things you can do:

  a.. Do not use uncontrolled floor stock or limit use of this function to 
items that are truely not worth tracking. Use controlled floor stock instead.
  b.. Develop a query against IM history that matches compares IS and IX 
transactions by item and calculates a balance for the uncontrolled floor stock. 
  




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 2:53 PM
Subject: Re: balancing G/L to Inventory


>    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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