Re: [SYS21] non Balance Sheet items in inventory that are standard costed

["Ed Lybrook" <elybrook@xxxxxxxxxx>]

You can create a non-inventory stockroom and use that for your supplies.
Post to the supplies account when you receive the invoice.
----- Original Message -----
From: <tkresky@sunflowermfg.com>
To: <jbausers-l@midrange.com>
Sent: Friday, November 29, 2002 10:39 AM
Subject: [SYS21] non Balance Sheet items in inventory that are standard
costed


> I've given up trying to get help from Geac.  The 'answer' provided by
> AnswerLink is to hire their consultants to get the answer.  Funny thing,
> I've asked many Geac consultants over the last 3 years about this and have
> yet to receive an answer from a single one of them.  And, all this while
> trying to triple our maintenance fee!  ................Man, am I
> frustrated.
>
> Anyhow...  maybe you folks can help me with this.  What I posted on
> AnswerLink follows:
>
>                                                  Here is our situation...
>                                                  We have 2 types of
>                                                  inventory: production
>                                                  and supplies. Only
>                                                  production inventory is
>                                                  shown on the Balance
>                                                  Sheet. Supplies are
>                                                  expensed as received.
>                                                  When the system was set
>                                                  up several years back,
>                                                  the supplies were setup
>                                                  as 'standard costed'
>                                                  items. As such, these
>                                                  items are being handled
>                                                  exactly as the
>                                                  'production' standard
>                                                  costed items are. That
>                                                  is, upon receipt, an
>                                                  accrual is posted to the
>                                                  G/L and price variance
>                                                  recognized. Remember I
>                                                  said these are expensed?
>                                                  I don't mind the auto
>                                                  accrue feature but I
>                                                  very much mind taking
>                                                  purchase price variance
>                                                  on expensed items. So...
>                                                  my hope is that I can
>                                                  change the supplies to
>                                                  some other cost type
>                                                  (FIFO is what I have in
>                                                  mind) so they'll stop
>                                                  generating price
>                                                  variance. Then, the
>                                                  question becomes how to
>                                                  do that without causing
>                                                  heartburn to the system.
>
>
>
>
> Any thoughts are greatly appreciated.
>
>
> R. Tim Kresky, Controller
>    Sunflower Manufacturing
>       a division of AGCO Corporation
>    ph: (785) 738-2261 x272
>    fax: (785)-738-2406
>    email: tim.kresky@sunflowermfg.com
>
> _______________________________________________
> This is the GEAC/JBA System 21 Users (JBAUSERS-L) mailing list
> To post a message email: JBAUSERS-L@midrange.com
> To subscribe, unsubscribe, or change list options,
> visit: http://lists.midrange.com/cgi-bin/listinfo/jbausers-l
> or email: JBAUSERS-L-request@midrange.com
> Before posting, please take a moment to review the archives
> at http://archive.midrange.com/jbausers-l.
>
>