Stupid Question Alert!!!
Does anyone know how EPICOR calculates the WIP value on the Work In Process report?
I have been tasked with creating a detailed breakdown of materials in WIP on jobs but need to understand how EPICOR calculates the WIP so i can use a similar formula for a detailed analysis.
I would recommend just using the Production Detail report as depending on your costing, MOMs, and other manufacturing processes it could get really difficult to be accurate.
What is the question you are looking to answer here?
In addition to John’s sage advice, you may want to check out the Job Costing Technical Reference Guide on EpicWeb.
https://epicweb.epicor.com/doc/Docs/Kinetic_techrefJobCosting_2023.2.pdf
Our Finance team want to know what the detailed breakdown of materials that are left in a job that makes up the WIP figure on the WIP report.
It turns out that the WIP report is reporting incorrectly on the job we are looking at and i have raised a support ticket.
The production Detail report is what i wanted to use and if i use a crude calculation based upon material value issued and products completed i can get to a WIP figure for each material in the job. What was throwing an issue was that the Job Tracker and Production Detail had a material value of £2071 and the WIP report was £2044.
So, the important thing with WIP is timing and what transactions happened. Also, Job Tracker and Production Detail are more of a “what did it cost” than “what is in WIP”.
When I come across issues like yours, I dump out all PartTran transactions for the job and all Labor transactions and work bottom up to see where the costs have gone.
It is the timing of things that makes it so difficult to reconcile something custom to the WIP report. All I can tell you is that every time someone has questioned WIP value to me, I have been able to follow the transactions to show that what Epicor has calculated is correct. I will do the work if I need to to prove it out to someone, but what I tell people is that if WIP was not correct, Epicor would not be in business as no company would purchase it.
The way I have done this that gets very close is take JobAsmbl TLALaborCost, TLABurdenCost and TLAMaterialCost then have a subquery for and MFG-STK or MFG-CUS from the job for Labor, Material and Burden and subtract those from the TLA values.
For our setup it is within $2000 on 4M
Which is exactly the same approach that i have used in the past. Unfortunately i am working in a company that for one reason or another have been reporting WIP to the material detail level for many years. I told the business that the reports they had been using were flawed with many issues in the both on a cost level and reporting out certain type of data. I have managed to get them to use OOB reporting BUT for some reason they are still insistent on having WIP to the detailed level as before which i could crudely put together a report based on Job Quantity - Issued to Stock - COS Quantity and then what is left to build work out the value of materials issued to build that quantity. Not ideal but it would be better than what they had before.