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

Hello Richard.  Good to hear from you.

Several have suggested I merely have the price variance post to the same
account.  However, I was hoping to find a way to avoid G/L entries at
different times for different pieces of one item (that tends to confuse
auditors).  Maybe this is simply the price I have to pay to track 'expense'
items in 'inventory'.  What would happen if these items were a different
costing type, instead of standard costed?  For example, if something was
FIFO costed, how would it behave?

I was hoping there was some elegant solution.  Something like a flag I
didn't know about that told the system I merely wanted to track quantities
on expense items, without the 'financial' tracking necessary for balance
sheet inventory.  Oh well - a fellow can always hope.

I trust all is well with you.  Happy Holidays.


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



                    Richard_Caldicott@tandy
                    brands.com                    To:     
jbausers-l@midrange.com
                    Sent by:                      cc:
                    jbausers-l-admin@midran       Subject:     RE: [SYS21]   
non Balance Sheet items in inventory that are
                    ge.com                         standard costed


                    12/01/2002 12:03 AM
                    Please respond to
                    jbausers-l






Tim, you have these items set up as standard costed so you will only have
that value posted at the time of receipt.  What do you want to do with any
shortfall or residue - expense it?  Why not simply put the appropriate
expense account in the Price variance field for those item?

Richard

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