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Thank you,
Patty Abreu
Accounting Administrator

-----Original Message-----
From: mapics-l-bounces@xxxxxxxxxxxx
[mailto:mapics-l-bounces@xxxxxxxxxxxx] On Behalf Of Lloyd Degnon
Sent: Wednesday, April 18, 2007 2:22 PM
To: MAPICS ERP System Discussion
Subject: Re: [MAPICS-L] PPV using standard costing

Thanks Bob!

-----Original Message-----
From: mapics-l-bounces@xxxxxxxxxxxx
[mailto:mapics-l-bounces@xxxxxxxxxxxx] On Behalf Of Bob Tenney
Sent: Tuesday, April 17, 2007 7:37 PM
To: MAPICS ERP System Discussion
Subject: Re: [MAPICS-L] PPV using standard costing

The best way to handle PPV is to have IFM calculate it when it processes
supplier invoices - not when the goods are received. This avoids the
problems caused by the PO and Invoice price being different. ( I forget
whether I32 should be "Y" or "N" - Old Age ). To do this set up your
rules like this:

a.. RP or RQ transaction - Debit Inventory / Credit
Received-Not-Invoiced at standard cost.
b.. AP Invoice - Debit Invoice Clearing / Credit Accounts Payable.
This can be done automatically by making the Invoice Clearing Account
each item's inventory account in EPDM.
c.. CA transaction generated by IFM when it is interfacing to IM:
a.. Debit Received-Not-Invoiced at standard.
b.. Credit Invoice Clearing at the invoice amount
c.. Debit or credit PPV for the difference.
Here is an excerpt from my General Ledger Interfaces book that
illustrates this:

Purchase price variance based on invoice cost When you calculate
purchase price variance based on invoice cost, the purchase price
variance is not recognized until you process the invoice. Here is an
example that illustrates how this works:

Assume the following:

Quantity ordered/received/invoiced = 100

Purchase order cost = 1.25
Standard cost = 1.00

Invoice cost = 1.50

When you process an RP transaction, IM values the receipt at the
standard cost. This results in the following ledger entries.

Debit
Credit

Inventory (RP charge amount 100 x 1.00)
100.00

Received not invoiced (RP offset amount 100 x 1.00)
100.00

When you process the invoice through AP and accept the 1.50
invoice price, it results in the following ledger entries.

Debit
Credit

Invoice clearing account
150.00

Accounts Payable
150.00

Have the AP or IFM application, generate a cost adjustment
transaction back to IM that reflects the invoice amount. Set up your
rules so it results in the following ledger entries:

Debit
Credit

Invoice clearing account (as invoiced)
150.00

Received not invoiced (at standard)
100.00

Purchase price variance
50.00



Bob Tenney
Bob Tenney Solutions, LLC
828-645-6829 / Cell 828-342-8570

Visit www.tenneypubs.com for books about MAPICS and FRx
----- Original Message -----
From: "Lloyd Degnon" <ldegnon@xxxxxxxxx>
To: "MAPICS ERP System Discussion" <mapics-l@xxxxxxxxxxxx>
Sent: Tuesday, April 17, 2007 7:34 PM
Subject: [MAPICS-L] PPV using standard costing


We are at MAPICS version 6, using IFM, we have been tailored to I032
in
IM to equal 'N'. My question is this, what type of GL interface rules
should be in place for PPV to calculate properly? I am not a finance
guy but been forced to learn more lately than I ever wanted to know
about IFM. Does anyone have any examples to share?


Thanks group,

Lloyd H. Degnon
I.S. Manager
Ampro Computers, Inc.
408.360.4365
www.ampro.com

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