I have been on Epicor for a total of 6 weeks so, please forgive me for what is probably an elementary question. I ran a production Detail Report for a particular Job#. What I am seeing is there are several part numbers that show a cost of zero. I checked in part maintenance and found that all part numbers involved, have a true cost assigned. This makes no sense to me. Any ideas? What am I missing (besides experience).
I have been reading this forum since starting my new job here. Honestly, almost everything here in this forum is way over my head. I have used many different software packages but, I am really struggling. I have access to the user manual, and use it every day. I also use the various help tabs. The company that is contracted to be our Epicor support team isn’t very responsive. So, if any of you could provide me any resources that would be helpful, I sure would appreciate it. I certainly won’t clog up this forum with the hundreds of other questions that I have
You might be to run Capture COS/WIP Activity process.
Capture COS/WIP Activity Process
Use the Capture COS/WIP Activity process to execute the calculation process
for work-in-process (WIP) and/or cost of sales (COS) for standard jobs,
project jobs, inventory, receipts, and adjustment transactions.
The Epicor application does not calculate and post monetary amounts to the
general ledger (GL) as soon as inventory or job transactions are complete.
Transactions are calculated (captured) and optionally posted to the GL when
this process is run. To keep your COS and WIP values accurate, you should
run this process at regular intervals.
Most cost amounts in the Epicor application, including COS and WIP, are
calculated using the base unit of measure (UOM) assigned to the part for
which the specific cost is being calculated.
Run the Capture COS/WIP Activity periodically to do the following:
Calculate COS for any shipments made from WIP.
Calculate costs relieved from WIP.
Capture landed costs into WIP and credit the landed cost recovery
account.
Calculate COS and WIP for all job types and costing types.
Important: In order to post COS for jobs and variances, select the Post
Cost of Sales/Mfg Variances check box.
Remove closed jobs from WIP.
Optionally, post inventory and WIP activity to the GL.
Tip: When Capture COS/WIP Activity encounters a project job type (PRJ), the
process searches for a GL Control to use for posting purposes based on the
following hierarchy:
The process reviews the project for a defined GL Control. The GL
Control is defined in the Project Entry > GL Control > Detail sheet.
If no GL Control is defined at the Project level, this process
defaults to the Project Billing GL control defined at the Company level.
The GL Control is defined in the Company Maintenance > All Materials > GL
Control > Detail sheet.
Important: To keep your COS and WIP values accurate, you should run this
process at regular intervals. Epicor recommends you run the Capture COS/WIP
Activity at least once each fiscal period - just before you close the
period in the GL book.
Tip: You can simulate this functionality using the WIP report, the Sales
Gross Margin report, and the Inventory/WIP Reconciliation report. These
reports attempt to determine COS and WIP using the latest information in
the database. Because all costs have not posted to jobs, these reports do
not necessarily display accurate, final manufacturing (PartTran MFG-VAR
records) variances.
Thanks,
Norman Hutchins
System Administrator
Howell Laboratories, Inc.
Check the costing method to make sure you are looking at the right costs. In Part Tracker, bring up a raw material part. Go to the Sites tab and third field down from the top is the “Costing Method” for the part. Now go to the “Costs” tab and check to make sure the cost for the material is in the proper matching section (Standard, Average, Last, or FIFO).
If there is a cost for the raw material on that screen in the proper section, are you using Standard costing for your manufactured part? If so, has there been a cost rollup done for the manufactured part?
Thank you both very much. There were issues in both of the areas that you mentioned. Also there are a LOT of (what I would think) basic setups that weren’t done prior to rollout. Thanks again.