Capture COS/WIP Activity

Yahoo Archive
1
Our accountant runs it weekly (on Tuesday) for the previous week. This gives our shop leads time to make any labor corrections, which cannot be done once the Capture has been done.

Ernie Lowell
Senior Aerospace - Sterling Machine

--- In vantage@yahoogroups.com, "Rob Bucek" <rbucek@...> wrote:
>
> We run it daily before invoicing. However we make sure we do not
> invoice against jobs that have not been properly completed (correct
> material issues, labor corrected, etc..). We have had no issues with
> this.
>
>
>
> Rob Bucek
>
> Manufacturing Engineer
>
> PH: (715) 284-5376 ext 3111
>
> FAX: (715)284-4084
>
> <http://www.dsmfg.com/>
>
> (Click the logo to view our site) <http://www.dsmfg.com/>
>
>
>
>
>
> From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
> Of Thomas Rose
> Sent: Wednesday, September 02, 2009 11:58 AM
> To: vantage@yahoogroups.com
> Subject: RE: [Vantage] Capture COS/WIP Activity
>
>
>
>
>
> I run it whenever I feel like it, which works out to perhaps 5 or 6
> times per month. The one big caution is NEVER run it with a date after
> the end of the currently open fiscal period end. Doing that seems to
> preclude you from properly capturing any more entries in the currently
> open period. I don't know if it is important or not, but I try to close
> any open completed jobs before I run capture COS/WIP.
>
> 8.03.403d
>
> Thom Rose
> Controller
> Electric Mirror LLC
> HOTEL LUXURY
>
> "The World Leader in Back-lit Mirrors & Mirror TV Technology"
>
> T 425 776-4946
> A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
> www.electricmirror.com<http://www.electricmirror.com>
>
> From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> [mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
> Behalf Of Tom Ketterer
> Sent: Wednesday, September 02, 2009 9:37 AM
> To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
> Subject: [Vantage] Capture COS/WIP Activity
>
> We are running Vantage 8.00 .811b and I currently run the "Capture COS/
> WIP Activity process" once a month as we close the month end. I have
> been told by colleagues that we shouldn't run this more than once per
> month as it could cause problems. I thought I saw a similar comment in
> the Vantage help file but am not sure and now that I am reading some
> technical literature it seems to say that you can run this process
> whenever you want.
>
> Does anyone run this process more than once per month? If so - have they
> had any problems related to running it more than once per month? I am
> asking because after I have completed a month end I can look back and
> see some transactions that show as unposted when I run the
> "Inventory/WIP Reconciliation' for the month that was just completed. I
> am trying to track down how these transactions arise (another
> opportunity to learn) and also how to capture them in my financial data.
>
> Thanks in advance.
>
> Tom Ketterer
>
> [Non-text portions of this message have been removed]
>
> [Non-text portions of this message have been removed]
>
>
>
>
>
> [Non-text portions of this message have been removed]
>
2
Hi group need some help here.

We ran the Capture COW/WIP Activity on 12/08/03. For some over sight reason
this has not been done for some time. After this activity was done our WIP
value took a real dive.

I ran the Inventory/WIP Reconiliation report from 12/05-12/09 and found tons
of transactions of type MFG-VAR.

There was one job that stood out from the pack where $41,000.00 showed as a
debit and $0.00 as credit and the reference was Purge WIP to Varience.

To say the least the job was not clean. The Job was set to make to stock.

Production Quantity = 340,000 parts
Completed Quantity = 50,000 parts
Misc Shipments = 11,000
Recieved to Stock = 0 parts

When we ran the WIP report prior to the capture the Job showed a $-0.01 as
the WIP value. The extra penny showed up as COS.

The $41,000 was all material costs.

We had numerous jobs during this time that were make to stock that did not
close cleanly that had MFG-VAR transactions.

Question is did closing these jobs with problems cause this drop in WIP when
we did the capture? If so how? How could it remove cash form WIP when the
WIP Report only showed WIP as a $-0.01. Are we not interpreting COS
correctly?

Much help is appreciated.

Wayne Katzenberger
VP Engineering
ELECPAC
Phone: 847-639-2307
Fax: 847-639-3830
3
Hi Wayne,

The problem you describe may have many elements.

The MFG-VAR transaction is for moving costs from WIP
after the job has gone to stock. On the day the job
was received into stock, it went in with a set of costs
that were known at that time. As other costs arrive, they
land in WIP until you do the capture and post.

When the capture and post can't put the costs to the job
the costs go to variance.

If the raw material was backflushed, the material costs
went to WIP when the 50,000 completions were reported.

When the job is closed with no receipts to stock, all the
costs that remain in WIP will go to variance.

WIP is Inventory .. an asset .. variance and COS are expenses.

When your job was closed and the capture and post couldn't
put the costs remaining in WIP to the job, Vantage can only
balance the books for the reduction in inventory by taking
the expense as variance.

When you ship from the job rather than from stock, the MFG-CUS
transaction triggers the calculation of the loss of inventory
and takes it as an expense to COS. You have recognized the
expense and reduced the asset called inventory (or WIP). You have
balanced this by increasing an asset called receivables.

Might be handy if you could scare up a copy of The Controller's
Handbook from Vantage. It's really the only place I've seen where
the logical triggers and data flow are diagrammed.

HTH

Mike



-----Original Message-----
From: Wayne Katzenberger [mailto:wkatz@...]
Sent: Tuesday, January 27, 2004 4:48 PM
To: 'Vantage User Group'
Subject: [Vantage] Capture COS/WIP Activity


Hi group need some help here.

We ran the Capture COW/WIP Activity on 12/08/03. For some over sight reason
this has not been done for some time. After this activity was done our WIP
value took a real dive.

I ran the Inventory/WIP Reconiliation report from 12/05-12/09 and found tons
of transactions of type MFG-VAR.

There was one job that stood out from the pack where $41,000.00 showed as a
debit and $0.00 as credit and the reference was Purge WIP to Varience.

To say the least the job was not clean. The Job was set to make to stock.

Production Quantity = 340,000 parts
Completed Quantity = 50,000 parts
Misc Shipments = 11,000
Recieved to Stock = 0 parts

When we ran the WIP report prior to the capture the Job showed a $-0.01 as
the WIP value. The extra penny showed up as COS.

The $41,000 was all material costs.

We had numerous jobs during this time that were make to stock that did not
close cleanly that had MFG-VAR transactions.

Question is did closing these jobs with problems cause this drop in WIP when
we did the capture? If so how? How could it remove cash form WIP when the
WIP Report only showed WIP as a $-0.01. Are we not interpreting COS
correctly?

Much help is appreciated.

Wayne Katzenberger
VP Engineering
ELECPAC
Phone: 847-639-2307
Fax: 847-639-3830


Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links

Yahoo! Groups Links

To visit your group on the web, go to:
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4
Wayne
I can't answer all your questions. So far I can only count a partial
bag of beans and then someone is looking over my shoulder.
Running capture cost of sales purges WIP of closed jobs. Among the
calculations done is the cost of items shipped during the month. It
should be run at the end of each period after all cost transactions
have been entered.
There are two MFG-VAR transactions that happen and both relieve the
costs left in a job when it is closed. Purge WIP to Cost of Sales
moves the costs associated with parts shipped to a cost of sales
account. Purge WIP to Variance moves costs associated with parts
completed but left in the job to a variance account.
You can run a simple report that pull data from the part tran table
and filters on PartType = "MFG-VAR" to see these. Examining the jobs
will show the residual costs.
We run a report that looks at completed jobs for a variance between
completed parts and shipped/Rec'd parts and another that looks at the

costs in and out. As period end gets close parts not shipped in
completed jobs are put in inventory. We still get variances but not
as many.

HTH
Russ Dover


> Hi group need some help here.
>
> We ran the Capture COW/WIP Activity on 12/08/03. For some over sight
> reason
> this has not been done for some time. After this activity was done
> our WIP
> value took a real dive.
>
> I ran the Inventory/WIP Reconiliation report from 12/05-12/09 and
> found tons
> of transactions of type MFG-VAR.
>
> There was one job that stood out from the pack where $41,000.00
> showed as a
> debit and $0.00 as credit and the reference was Purge WIP to Varience.
>
> To say the least the job was not clean. The Job was set to make to
> stock.
>
> Production Quantity = 340,000 parts
> Completed Quantity = 50,000 parts
> Misc Shipments = 11,000
> Recieved to Stock = 0 parts
>
> When we ran the WIP report prior to the capture the Job showed a $-
> 0.01 as
> the WIP value. The extra penny showed up as COS.
>
> The $41,000 was all material costs.
>
> We had numerous jobs during this time that were make to stock that
> did not
> close cleanly that had MFG-VAR transactions.
>
> Question is did closing these jobs with problems cause this drop in
> WIP when
> we did the capture? If so how? How could it remove cash form WIP
> when the
> WIP Report only showed WIP as a $-0.01. Are we not interpreting COS
> correctly?
>
> Much help is appreciated.
>
> Wayne Katzenberger
> VP Engineering
> ELECPAC
> Phone: 847-639-2307
> Fax: 847-639-3830
>
>
>
> Useful links for the Yahoo!Groups Vantage Board are: ( Note: You
> must have already linked your email address to a yahoo id to enable
> access. )
> (1) To access the Files Section of our Yahoo!Group for Report Builder
> and Crystal Reports and other 'goodies', please goto:
> http://groups.yahoo.com/group/vantage/files/.
> (2) To search through old msg's goto:
> http://groups.yahoo.com/group/vantage/messages
> (3) To view links to Vendors that provide Vantage services goto:
> http://groups.yahoo.com/group/vantage/links
>
>
>
> Yahoo! Groups Links
> * To visit your group on the web, go to:
> http://groups.yahoo.com/group/vantage/
>
> * To unsubscribe from this group, send an email to:
> vantage-unsubscribe@yahoogroups.com
>
> * Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
>
5
Let me ask this question a different way.

First of all we do not have our inventory tied to the G/L. Profitability is
calc'd by our president. Inventory values are key large sings in inventory
values have a large impact due to accrued acounting. A large drop in
inventory will potentially cause a large drop in profitability is sales
dollars are not high enough to offset the inventory swing.

We took a large drop in WIP appearently after running the Capture COS/WIP.
I have a huge variance report from that day. Where should I or could I
look to see what may have been lost due to bad job closing or other
activities.

Any advise anybody has would be greatly appreciated.

Thanks,

Wayne

-----Original Message-----
From: Russ Dover [mailto:rdover@...]
Sent: Wednesday, January 28, 2004 12:06 PM
To: vantage@yahoogroups.com
Subject: Re: [Vantage] Capture COS/WIP Activity


Wayne
I can't answer all your questions. So far I can only count a partial
bag of beans and then someone is looking over my shoulder.
Running capture cost of sales purges WIP of closed jobs. Among the
calculations done is the cost of items shipped during the month. It
should be run at the end of each period after all cost transactions
have been entered.
There are two MFG-VAR transactions that happen and both relieve the
costs left in a job when it is closed. Purge WIP to Cost of Sales
moves the costs associated with parts shipped to a cost of sales
account. Purge WIP to Variance moves costs associated with parts
completed but left in the job to a variance account.
You can run a simple report that pull data from the part tran table
and filters on PartType = "MFG-VAR" to see these. Examining the jobs
will show the residual costs.
We run a report that looks at completed jobs for a variance between
completed parts and shipped/Rec'd parts and another that looks at the

costs in and out. As period end gets close parts not shipped in
completed jobs are put in inventory. We still get variances but not
as many.

HTH
Russ Dover


> Hi group need some help here.
>
> We ran the Capture COW/WIP Activity on 12/08/03. For some over sight
> reason
> this has not been done for some time. After this activity was done
> our WIP
> value took a real dive.
>
> I ran the Inventory/WIP Reconiliation report from 12/05-12/09 and
> found tons
> of transactions of type MFG-VAR.
>
> There was one job that stood out from the pack where $41,000.00
> showed as a
> debit and $0.00 as credit and the reference was Purge WIP to Varience.
>
> To say the least the job was not clean. The Job was set to make to
> stock.
>
> Production Quantity = 340,000 parts
> Completed Quantity = 50,000 parts
> Misc Shipments = 11,000
> Recieved to Stock = 0 parts
>
> When we ran the WIP report prior to the capture the Job showed a $-
> 0.01 as
> the WIP value. The extra penny showed up as COS.
>
> The $41,000 was all material costs.
>
> We had numerous jobs during this time that were make to stock that
> did not
> close cleanly that had MFG-VAR transactions.
>
> Question is did closing these jobs with problems cause this drop in
> WIP when
> we did the capture? If so how? How could it remove cash form WIP
> when the
> WIP Report only showed WIP as a $-0.01. Are we not interpreting COS
> correctly?
>
> Much help is appreciated.
>
> Wayne Katzenberger
> VP Engineering
> ELECPAC
> Phone: 847-639-2307
> Fax: 847-639-3830
>
>
>
> Useful links for the Yahoo!Groups Vantage Board are: ( Note: You
> must have already linked your email address to a yahoo id to enable
> access. )
> (1) To access the Files Section of our Yahoo!Group for Report Builder
> and Crystal Reports and other 'goodies', please goto:
> http://groups.yahoo.com/group/vantage/files/.
> (2) To search through old msg's goto:
> http://groups.yahoo.com/group/vantage/messages
> (3) To view links to Vendors that provide Vantage services goto:
> http://groups.yahoo.com/group/vantage/links
>
>
>
> Yahoo! Groups Links
> * To visit your group on the web, go to:
> http://groups.yahoo.com/group/vantage/
>
> * To unsubscribe from this group, send an email to:
> vantage-unsubscribe@yahoogroups.com
>
> * Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
>



Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links


Yahoo! Groups Links

To visit your group on the web, go to:
http://groups.yahoo.com/group/vantage/

To unsubscribe from this group, send an email to:
vantage-unsubscribe@yahoogroups.com

Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
6
We don't have inventory tied to G/L either.
If you're like us a significant portion of accounting uses data from
Vantage but is calc'd around it. Some of what the mfg-var
transactions did is recoverable. In your case most of those
tranactions are in closed periods.
The "Purge to Cost of Sales" is valid cost of sales for that job.
From a G/L point of view COS was debited and WIP was credited. I
doubt your president is using G/L to calc profitablity so now
Gross Profit = 1 - (sales / job cost) and should be the same from G/L
and Job vs order.
The "Purge to Variance" is parts that disappeared when the closed job
was purged from WIP. So you have or shipped parts that aren't in the
system. That Variance should match missing inventory costs. In other
words 10 pieces that are physically on the shelf but were never put
there in the system have their costs in that variance.
Where to look... Run a report that looks at the MFG-VAR transactions
in the PartTran table for that day. Include JobNum, PartNum, ExtCost.
Then look at the Job Cost and completed quantity vs shippments and
inventory receipts. Those discrepancies generated the variance
transactions.
Here is where my partial bag of beans runs a little short. You had
assets in WIP that are now in Inventory or Cost of Sales. What's in
inventory you still have but the COS change effects your income
statement and overall profit. I'm not sure what to do about that.

Does that help? Can you wrtie that RB report?
RRD
Feel Free to contact me off list


Russ Dover
IS Manager
Weaver Industries, Inc.
717 336 7507 phone
717 336 4182 fax
rdover@...
www.weaverind.com
7
Russ,

I think we may be getting close.

We can write an RB report. Thanks for the help I may be claaing you off
line.

Thanks again,

Wayne

-----Original Message-----
From: Russ Dover [mailto:rdover@...]
Sent: Wednesday, January 28, 2004 3:26 PM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Capture COS/WIP Activity


We don't have inventory tied to G/L either.
If you're like us a significant portion of accounting uses data from
Vantage but is calc'd around it. Some of what the mfg-var
transactions did is recoverable. In your case most of those
tranactions are in closed periods.
The "Purge to Cost of Sales" is valid cost of sales for that job.
From a G/L point of view COS was debited and WIP was credited. I
doubt your president is using G/L to calc profitablity so now
Gross Profit = 1 - (sales / job cost) and should be the same from G/L
and Job vs order.
The "Purge to Variance" is parts that disappeared when the closed job
was purged from WIP. So you have or shipped parts that aren't in the
system. That Variance should match missing inventory costs. In other
words 10 pieces that are physically on the shelf but were never put
there in the system have their costs in that variance.
Where to look... Run a report that looks at the MFG-VAR transactions
in the PartTran table for that day. Include JobNum, PartNum, ExtCost.
Then look at the Job Cost and completed quantity vs shippments and
inventory receipts. Those discrepancies generated the variance
transactions.
Here is where my partial bag of beans runs a little short. You had
assets in WIP that are now in Inventory or Cost of Sales. What's in
inventory you still have but the COS change effects your income
statement and overall profit. I'm not sure what to do about that.

Does that help? Can you wrtie that RB report?
RRD
Feel Free to contact me off list


Russ Dover
IS Manager
Weaver Industries, Inc.
717 336 7507 phone
717 336 4182 fax
rdover@...
www.weaverind.com


Useful links for the Yahoo!Groups Vantage Board are: ( Note: You must have
already linked your email address to a yahoo id to enable access. )
(1) To access the Files Section of our Yahoo!Group for Report Builder and
Crystal Reports and other 'goodies', please goto:
http://groups.yahoo.com/group/vantage/files/.
(2) To search through old msg's goto:
http://groups.yahoo.com/group/vantage/messages
(3) To view links to Vendors that provide Vantage services goto:
http://groups.yahoo.com/group/vantage/links


Yahoo! Groups Links

To visit your group on the web, go to:
http://groups.yahoo.com/group/vantage/

To unsubscribe from this group, send an email to:
vantage-unsubscribe@yahoogroups.com

Your use of Yahoo! Groups is subject to:
http://docs.yahoo.com/info/terms/
8
We are running Vantage 8.00 .811b and I currently run the "Capture COS/ WIP Activity process" once a month as we close the month end. I have been told by colleagues that we shouldn't run this more than once per month as it could cause problems. I thought I saw a similar comment in the Vantage help file but am not sure and now that I am reading some technical literature it seems to say that you can run this process whenever you want.

Does anyone run this process more than once per month? If so - have they had any problems related to running it more than once per month? I am asking because after I have completed a month end I can look back and see some transactions that show as unposted when I run the "Inventory/WIP Reconciliation' for the month that was just completed. I am trying to track down how these transactions arise (another opportunity to learn) and also how to capture them in my financial data.

Thanks in advance.

Tom Ketterer




[Non-text portions of this message have been removed]
9
We run WIP capture weekly and again for month end. It does lock the
labor transactions so labor correction have to be posted prior to
posting WIP or you'll have to go through the adjustment module. We went
to weekly for a couple reasons, but the main one is that there is so
much data to post within a months time, that it would lock up in
process. With weekly posting we can also look at the GL affect from the
financial review.



We also battle against prior dated transactions continuously. The
transaction type can really hold the answer to your mystery.







Thanks~



Kathleen

TJI-Holdings

360/ 453-3445

________________________________

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Tom Ketterer
Sent: Wednesday, September 02, 2009 9:37 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Capture COS/WIP Activity





We are running Vantage 8.00 .811b and I currently run the "Capture COS/
WIP Activity process" once a month as we close the month end. I have
been told by colleagues that we shouldn't run this more than once per
month as it could cause problems. I thought I saw a similar comment in
the Vantage help file but am not sure and now that I am reading some
technical literature it seems to say that you can run this process
whenever you want.

Does anyone run this process more than once per month? If so - have
they had any problems related to running it more than once per month? I
am asking because after I have completed a month end I can look back and
see some transactions that show as unposted when I run the
"Inventory/WIP Reconciliation' for the month that was just completed. I
am trying to track down how these transactions arise (another
opportunity to learn) and also how to capture them in my financial data.

Thanks in advance.

Tom Ketterer

[Non-text portions of this message have been removed]




NOTICE OF CONFIDENTIALITY: This e-mail message, including attachments, is for the sole use of the intended recipients and may contain confidential and privileged information. If you are not an intended recipient, please contact the sender by reply e-mail and destroy all copies of this message, including attachments. Any unauthorized review, use, disclosure or distribution is prohibited.


[Non-text portions of this message have been removed]
10
We also do ours weekly without issue.

Originally we did it monthly, but as Kathleen notes, we wanted to better be able to look at our GL's so we now run it weekly.

Ken

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Kathleen Tyrrell
Sent: Wednesday, September 02, 2009 10:53 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Capture COS/WIP Activity



We run WIP capture weekly and again for month end. It does lock the
labor transactions so labor correction have to be posted prior to
posting WIP or you'll have to go through the adjustment module. We went
to weekly for a couple reasons, but the main one is that there is so
much data to post within a months time, that it would lock up in
process. With weekly posting we can also look at the GL affect from the
financial review.

We also battle against prior dated transactions continuously. The
transaction type can really hold the answer to your mystery.

Thanks~

Kathleen

TJI-Holdings

360/ 453-3445

________________________________

From: vantage@yahoogroups.com<mailto:vantage%40yahoogroups.com> [mailto:vantage@yahoogroups.com<mailto:vantage%40yahoogroups.com>] On Behalf
Of Tom Ketterer
Sent: Wednesday, September 02, 2009 9:37 AM
To: vantage@yahoogroups.com<mailto:vantage%40yahoogroups.com>
Subject: [Vantage] Capture COS/WIP Activity

We are running Vantage 8.00 .811b and I currently run the "Capture COS/
WIP Activity process" once a month as we close the month end. I have
been told by colleagues that we shouldn't run this more than once per
month as it could cause problems. I thought I saw a similar comment in
the Vantage help file but am not sure and now that I am reading some
technical literature it seems to say that you can run this process
whenever you want.

Does anyone run this process more than once per month? If so - have
they had any problems related to running it more than once per month? I
am asking because after I have completed a month end I can look back and
see some transactions that show as unposted when I run the
"Inventory/WIP Reconciliation' for the month that was just completed. I
am trying to track down how these transactions arise (another
opportunity to learn) and also how to capture them in my financial data.

Thanks in advance.

Tom Ketterer

[Non-text portions of this message have been removed]

NOTICE OF CONFIDENTIALITY: This e-mail message, including attachments, is for the sole use of the intended recipients and may contain confidential and privileged information. If you are not an intended recipient, please contact the sender by reply e-mail and destroy all copies of this message, including attachments. Any unauthorized review, use, disclosure or distribution is prohibited.

[Non-text portions of this message have been removed]



[Non-text portions of this message have been removed]
11
I run it whenever I feel like it, which works out to perhaps 5 or 6 times per month. The one big caution is NEVER run it with a date after the end of the currently open fiscal period end. Doing that seems to preclude you from properly capturing any more entries in the currently open period. I don't know if it is important or not, but I try to close any open completed jobs before I run capture COS/WIP.

8.03.403d

Thom Rose
Controller
Electric Mirror LLC
HOTEL LUXURY

"The World Leader in Back-lit Mirrors & Mirror TV Technology"

T 425 776-4946
A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com>

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of Tom Ketterer
Sent: Wednesday, September 02, 2009 9:37 AM
To: vantage@yahoogroups.com
Subject: [Vantage] Capture COS/WIP Activity



We are running Vantage 8.00 .811b and I currently run the "Capture COS/ WIP Activity process" once a month as we close the month end. I have been told by colleagues that we shouldn't run this more than once per month as it could cause problems. I thought I saw a similar comment in the Vantage help file but am not sure and now that I am reading some technical literature it seems to say that you can run this process whenever you want.

Does anyone run this process more than once per month? If so - have they had any problems related to running it more than once per month? I am asking because after I have completed a month end I can look back and see some transactions that show as unposted when I run the "Inventory/WIP Reconciliation' for the month that was just completed. I am trying to track down how these transactions arise (another opportunity to learn) and also how to capture them in my financial data.

Thanks in advance.

Tom Ketterer

[Non-text portions of this message have been removed]



[Non-text portions of this message have been removed]
12
We run it daily before invoicing. However we make sure we do not
invoice against jobs that have not been properly completed (correct
material issues, labor corrected, etc..). We have had no issues with
this.



Rob Bucek

Manufacturing Engineer

PH: (715) 284-5376 ext 3111

FAX: (715)284-4084

<http://www.dsmfg.com/>

(Click the logo to view our site) <http://www.dsmfg.com/>





From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf
Of Thomas Rose
Sent: Wednesday, September 02, 2009 11:58 AM
To: vantage@yahoogroups.com
Subject: RE: [Vantage] Capture COS/WIP Activity





I run it whenever I feel like it, which works out to perhaps 5 or 6
times per month. The one big caution is NEVER run it with a date after
the end of the currently open fiscal period end. Doing that seems to
preclude you from properly capturing any more entries in the currently
open period. I don't know if it is important or not, but I try to close
any open completed jobs before I run capture COS/WIP.

8.03.403d

Thom Rose
Controller
Electric Mirror LLC
HOTEL LUXURY

"The World Leader in Back-lit Mirrors & Mirror TV Technology"

T 425 776-4946
A 11831 Beverly Park Rd, Bldg D, Everett, WA 98204 USA
www.electricmirror.com<http://www.electricmirror.com>

From: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
[mailto:vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com> ] On
Behalf Of Tom Ketterer
Sent: Wednesday, September 02, 2009 9:37 AM
To: vantage@yahoogroups.com <mailto:vantage%40yahoogroups.com>
Subject: [Vantage] Capture COS/WIP Activity

We are running Vantage 8.00 .811b and I currently run the "Capture COS/
WIP Activity process" once a month as we close the month end. I have
been told by colleagues that we shouldn't run this more than once per
month as it could cause problems. I thought I saw a similar comment in
the Vantage help file but am not sure and now that I am reading some
technical literature it seems to say that you can run this process
whenever you want.

Does anyone run this process more than once per month? If so - have they
had any problems related to running it more than once per month? I am
asking because after I have completed a month end I can look back and
see some transactions that show as unposted when I run the
"Inventory/WIP Reconciliation' for the month that was just completed. I
am trying to track down how these transactions arise (another
opportunity to learn) and also how to capture them in my financial data.

Thanks in advance.

Tom Ketterer

[Non-text portions of this message have been removed]

[Non-text portions of this message have been removed]





[Non-text portions of this message have been removed]