Phantom Purge WIP to Variance

Yahoo Archive
1
Phantom MFG-VAR transactions are temporary records which are created for Completed Jobs which have remaining costs in WIP and no outstanding uncosted shipment records.

These temporary transactions are automatically generated as the Inventory/WIP Reconciliation Report captures simulated COS and WIP information.  The records do not exist as MFG-VAR PartTran records in your database.

 

When a job is closed, any remaining costs are purged from WIP during the WIP/COS calculation process.  These costs are posted to the Cost of Sales and Variance accounts in the ratio of the quantity that was shipped or sent to inventory to the quantity relieved.

 

PURGE TO COST OF SALES ACCOUNT =

  Remaining Wip Costs * [ Shipped Qty todate / (shipped qty + inventory qty) ]

 

PURGE TO VARIANCE ACCOUNT =

  Remaining Wip Costs - (Purged to COS amounts)

 

Note:  MFG-VAR records are only created if there are no uncosted shipment transactions, meaning if there are additional costs that have not been transferred to COS via a shipment.  For shipments that are directly from the job, any costs that are added up until the first capture is run after the shipment will automatically go to COS because the shipment 'floats' until the capture is run.

 

 
Dora Chavarria  
Sr. Consultant Analysis Services,
ERP  
Mayan Technologies USA, Inc. dchavarria@...
www.mayantechs.com 



On Thursday, May 14, 2015 3:17 PM, "Mike Lowe MLowe@... [vantage]" <vantage@yahoogroups.com> wrote:


  
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It’s what your month end manufacturing variance WILL be when you run the Capture COS/WIP and post at month end.
 
Mike
 
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Thursday, May 14, 2015 12:57 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Phantom Purge WIP to Variance
 
 
Let me start by saying we are Epicor newbies - been live on v10 for  weeks.
 
When viewing my Inventory/WIP Recon report, I see the entry Phantom Purge WIP to Variance and don't know what this is telling me.  The part I see it for is an inventory part that I've received to inventory from a job and have closed the job.  Our costing method is last cost.  Anyone seen this before?
 
Cheers,
Charlie
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2
in Epicor 9.05 we ran the Inventory WIP Account Reconciliation report, and saw a whole bunch of records that have the reference of Phantom Purge WIP to Variance..

What is that? and how did it happen?
3

Let me start by saying we are Epicor newbies - been live on v10 for  weeks.


When viewing my Inventory/WIP Recon report, I see the entry Phantom Purge WIP to Variance and don't know what this is telling me.  The part I see it for is an inventory part that I've received to inventory from a job and have closed the job.  Our costing method is last cost.  Anyone seen this before?


Cheers,

Charlie

4

It’s what your month end manufacturing variance WILL be when you run the Capture COS/WIP and post at month end.

 

Mike

 

From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com]
Sent: Thursday, May 14, 2015 12:57 PM
To: vantage@yahoogroups.com
Subject: [Vantage] Phantom Purge WIP to Variance

 

 

Let me start by saying we are Epicor newbies - been live on v10 for  weeks.

 

When viewing my Inventory/WIP Recon report, I see the entry Phantom Purge WIP to Variance and don't know what this is telling me.  The part I see it for is an inventory part that I've received to inventory from a job and have closed the job.  Our costing method is last cost.  Anyone seen this before?

 

Cheers,

Charlie