I believe COS is for costs on items shipped directly from the job where To
Inventory is costs for items moved to stock. WIP is all costs incurred on
the job that haven't been moved to COS or Inventory. If you have moved all
the parts off the job to inventory or shipped and there are still costs
listed in WIP they will be moved off as a production variance when the job
is closed.
Inventory is costs for items moved to stock. WIP is all costs incurred on
the job that haven't been moved to COS or Inventory. If you have moved all
the parts off the job to inventory or shipped and there are still costs
listed in WIP they will be moved off as a production variance when the job
is closed.
On May 6, 2013 6:51 AM, "Virginia Joseph" <vjoseph@...> wrote:
> **
>
>
> My understanding is that the COS row in this report simply represents
> costs that were recorded on the job but not moved to inventory. This could
> be for a variety of reasons:
> 1. Cost were recorded on the job after parts were received to inventory.
> Once the job is closed, these costs will be recorded to your manufacturing
> variance account in the GL.
> 2. Quantity complete is greater than quantity received to inventory.
> Vantage will leave a value associated with the parts that are complete but
> not moved to inventory in the WIP row on this report. When the job is
> closed, these remaining costs will be recorded to your manufacturing
> variance account in the GL.
>
> I am sure there are a variety of other reasons, but what it comes down to
> is that if you are not processing jobs cleanly (ensuring all costs are
> correct before receiving the parts to inventory, there will always be
> dollars in the COS row on this report that will eventually hit your
> manufacturing variance account.
>
> Hope this helps.
> Virginia Joseph
> Xact Spec Industries LLC
> 440-708-5239
>
> --- In vantage@yahoogroups.com, "fite2be" <fite2be@...> wrote:
> >
> > Here's what's happening. We have make-to-stock jobs (no sales order
> involved) reporting some costs of the job to C.O.S. How could that happen?
> >
> > --- In vantage@yahoogroups.com, "Cathy" <cathy@> wrote:
> > >
> > > C.O.S - When you build a job to a Sales Order and ship from that job -
> > > it is $ that came out of WIP and when to the Cost of Sales. Transaction
> > > MFG-CUS.
> > >
> > >
> > >
> > > To Inventory are the $ that went into Inventory when a MFG-STK
> transaction
> > > is done. Usually, these jobs are built to Stock.
> > >
> > > WIP - is the dollars remaining in the job.
> > >
> > >
> > >
> > > The Production Detail report shows more detail.
> > >
> > >
> > >
> > > WIP report is a summary by job.
> > >
> > >
> > >
> > > Both reports should use the same information.
> > >
> > >
> > >
> > > From: vantage@yahoogroups.com [mailto:vantage@yahoogroups.com] On
> Behalf Of
> > > fite2be
> > > Sent: Friday, April 26, 2013 2:42 PM
> > > To: vantage@yahoogroups.com
> > > Subject: [Vantage] Work In Process Report (Epicor V. 9.05.700C)
> > >
> > >
> > >
> > >
> > >
> > > Trying to find out what "To Inventory", "C.O.S.", and "W.I.P" are
> actually
> > > representing in this report. What information is being calculated that
> gets
> > > put in these buckets?
> > >
> > > Basically I don't understand the separate buckets or the report in
> general
> > > (doesn't seem much different than the Production Detail Report).
> > >
> > > If anyone can help, I appreciate it - the help menu in the software
> did not
> > > address my specific questions.
> > >
> > > Thank you,
> > > Renee / EMT International
> > >
> > >
> > >
> > >
> > >
> > > [Non-text portions of this message have been removed]
> > >
> >
>
>
>
[Non-text portions of this message have been removed]