I was wondering what process everyone one uses for keying WIP in their yearly full physical inventory process. Further, what process do you use to check/post WIP variance. Thanks in advance!
Mike..
Mike..
We have an upcoming full physical inventory including WIP. I do not see
any method within Vantage to handle WIP. Has anyone found an easy way
to do it that would satisfy an auditor?
any method within Vantage to handle WIP. Has anyone found an easy way
to do it that would satisfy an auditor?
There is a WIP report that does show what is in WIP and the cost associated
with it.
But in order for the costs to be correct there is a lot of up front work
that had to be done such as Resource Group\Resources set up with Labor and
Burden Rates, Materials are tied to the proper operation in the Jobs so they
can be backflushed OR material is being issued to jobs, any Non-Stock parts
were purchased direct to the job, shop employees are actually clocking into
the jobs and properly so, Materials had cost in the Job either from your
cost (whatever costing method you are using) or from POs from purchased
direct parts. I am sure there is more that I cannot think of right now but
basically in order for the WIP report to even come close to some sort of
resemblance of reality.
This does only report to the Part Number that is being manufactured but it
does give you the Parent Part Number and also the Job Number. You could then
look at those Jobs and run Production Details against them
This report will be huge unless you are running the Capture COS\WIP Activity
to flush the Jobs out of WIP after they have been marked closed.
Even though we have our ducks in a row we still have a little different
costing model for Labor and Burden than what Vantage can work with so I
created my own WIP Report to capture costs of the Jobs at our Inventory
time. Now first run the Capture Activity and then run the report and we feel
as comfortable with the WIP value as we want to be.
Scott Litzau, MCP
Olympus Flag & Banner
Information Systems Manager
scott.litzau@...
P: 414-365-9732
F: 414-355-1931
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
tonia.blakely
Sent: Monday, September 29, 2008 1:35 PM
To: vantage@yahoogroups.com
Subject: [Vantage] WIP Physical Inventory
We have an upcoming full physical inventory including WIP. I do not see
any method within Vantage to handle WIP. Has anyone found an easy way
to do it that would satisfy an auditor?
------------------------------------
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/linksYahoo! Groups Links
with it.
But in order for the costs to be correct there is a lot of up front work
that had to be done such as Resource Group\Resources set up with Labor and
Burden Rates, Materials are tied to the proper operation in the Jobs so they
can be backflushed OR material is being issued to jobs, any Non-Stock parts
were purchased direct to the job, shop employees are actually clocking into
the jobs and properly so, Materials had cost in the Job either from your
cost (whatever costing method you are using) or from POs from purchased
direct parts. I am sure there is more that I cannot think of right now but
basically in order for the WIP report to even come close to some sort of
resemblance of reality.
This does only report to the Part Number that is being manufactured but it
does give you the Parent Part Number and also the Job Number. You could then
look at those Jobs and run Production Details against them
This report will be huge unless you are running the Capture COS\WIP Activity
to flush the Jobs out of WIP after they have been marked closed.
Even though we have our ducks in a row we still have a little different
costing model for Labor and Burden than what Vantage can work with so I
created my own WIP Report to capture costs of the Jobs at our Inventory
time. Now first run the Capture Activity and then run the report and we feel
as comfortable with the WIP value as we want to be.
Scott Litzau, MCP
Olympus Flag & Banner
Information Systems Manager
scott.litzau@...
P: 414-365-9732
F: 414-355-1931
-----Original Message-----
From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On Behalf Of
tonia.blakely
Sent: Monday, September 29, 2008 1:35 PM
To: vantage@yahoogroups.com
Subject: [Vantage] WIP Physical Inventory
We have an upcoming full physical inventory including WIP. I do not see
any method within Vantage to handle WIP. Has anyone found an easy way
to do it that would satisfy an auditor?
------------------------------------
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/linksYahoo! Groups Links
There is a WIP report in v8 (job management/reports) - but I've never used it... Don't know if your auditors would like it.
I wouldn't think it would be too big a deal to write a BAQ report to provide an auditor with your WIP data in a suitable format. Only a few tables involved.
Rob Brown
I wouldn't think it would be too big a deal to write a BAQ report to provide an auditor with your WIP data in a suitable format. Only a few tables involved.
Rob Brown
--- On Mon, 9/29/08, tonia.blakely <tblakely@...> wrote:
From: tonia.blakely <tblakely@...>
Subject: [Vantage] WIP Physical Inventory
To: vantage@yahoogroups.com
Date: Monday, September 29, 2008, 2:34 PM
We have an upcoming full physical inventory including WIP. I do not see
any method within Vantage to handle WIP. Has anyone found an easy way
to do it that would satisfy an auditor?
I'm more concerned with the actual parts counting and reconciling
back to the WIP report. We have a large amount of jobs in WIP.
--- In vantage@yahoogroups.com, Robert Brown <robertb_versa@...>
wrote:
few tables involved.
back to the WIP report. We have a large amount of jobs in WIP.
--- In vantage@yahoogroups.com, Robert Brown <robertb_versa@...>
wrote:
>never used it... Don't know if your auditors would like it.
> There is a WIP report in v8 (job management/reports) - but I've
>to provide an auditor with your WIP data in a suitable format. Only a
> I wouldn't think it would be too big a deal to write a BAQ report
few tables involved.
>see
> Rob Brown
>
>
>
> --- On Mon, 9/29/08, tonia.blakely <tblakely@...> wrote:
>
> From: tonia.blakely <tblakely@...>
> Subject: [Vantage] WIP Physical Inventory
> To: vantage@yahoogroups.com
> Date: Monday, September 29, 2008, 2:34 PM
>
>
>
>
>
>
> We have an upcoming full physical inventory including WIP. I do not
> any method within Vantage to handle WIP. Has anyone found an easyway
> to do it that would satisfy an auditor?
>
--- In vantage@yahoogroups.com, "tonia.blakely" <tblakely@...> wrote:
in a BAQ. I dump that in a spreadsheet that calculates the relative
material/labor/burdern and subcontract costs per piece by taking the
costs divided the 'max' of either production pieces or complete
pieces. Our planner then goes and verifies how many pieces are on each
job via two part inventory tags. To avoid any lower of cost or market
issues in overstating our costs, we only allow for a maximum of 85% of
the sell price (part.head) or job costs. I did not like it at first,
but it makes sense. The problem is that there is a lot of off the
system jockeying to get there while it ignores what the system may say
is open on the job.
>see
> We have an upcoming full physical inventory including WIP. I do not
> any method within Vantage to handle WIP. Has anyone found an easy wayWe account for our WIP by pulling all costs from the jobs from job.head
> to do it that would satisfy an auditor?
>
in a BAQ. I dump that in a spreadsheet that calculates the relative
material/labor/burdern and subcontract costs per piece by taking the
costs divided the 'max' of either production pieces or complete
pieces. Our planner then goes and verifies how many pieces are on each
job via two part inventory tags. To avoid any lower of cost or market
issues in overstating our costs, we only allow for a maximum of 85% of
the sell price (part.head) or job costs. I did not like it at first,
but it makes sense. The problem is that there is a lot of off the
system jockeying to get there while it ignores what the system may say
is open on the job.