So we have some problems with doing things in the right order. Specifically receiving materials and backflushing said materials. The operations got completed with backflushed the material as $0. The inventory then went to -1. Then they got received later at the PO cost. inventory is back to 0 like it should be, however there is $0 on the job, and extra money in the inventory GL that should be in the COS GL.
What is the right way to make this adjustment? If we make a job adjustment, it doens’t affect the GL correct? So then we would have to make a journal adjustment? I’m hoping that there is a better way to do this in one step, because 2 steps by 2 different people in the organization is not something we want to do regularly.
When you adjust cost, there is a reason code. So if you have to use reason codes and the RC are tied to GL Controls and your GL Controls are filled out. It will affect your GL. Are you trying to do a Cost adjustment or Job Adjustment. They both have different Transaction Hierachies
I’m trying to work in job adjustment. The information that I had about the job adjustment not hitting the GL is actually false (after doing some testing.)
Job Cost Adjustments do not have a reason code, however, so it looks like we would have to set up the GL specifically for job cost adjustments. It looks like it’s moving things from the WIPCOS account to the scrap account (or vice versa depending on the direction) We’ll maybe have to adjust that so it pulls from the inventory account because that’s were the dollars went into when the item was actually received.
A cost adjustment can be done for as many parts as necessary. The cost adjustment depends on the costing method for the part and whether you have inventory on that part (of course).
If you are standard costing, you will adjust the standard cost for the part. And that cost will be maintained until the next cost adjustment or cost rollup.
I also have a question. I’ve noticed any adj-sub done thru Job cost adjustments are hitting our inventory adjustments account which is a general account. I can’t seem to find where I can change the gl control for job adjustments. I’ve looked at all my gl controls and can’t seem to find the job adjustments control. Any ideas where to look?