Re: balancing G/L to Inventory

["Jeff Snyder" <jeffreygsnyder@xxxxxxxxxxx>]

   Thanks Bob,  hoping you would reply

    

     Do you agree with the IS of uncntrl F/S  performing a CR to WH Inv

   and a DR to Uncntrl F/S account.  

    

   then having the IX  perform the CR to Uncntrl F/S

   and a DR to the WIP account

    

   Thanks again

    

   Jeff Snyder,  CPIM

   Mapics Consultant

   From: "Bob Tenney" <BOBTENNEY@xxxxxxxxxxxxx>
   Reply-To: MAPICS ERP System Discussion <MAPICS-L@xxxxxxxxxxxx>
   To: "MAPICS ERP System Discussion" <MAPICS-L@xxxxxxxxxxxx>
   Subject: Re: balancing G/L to Inventory
   Date: Wed, 6 Aug 2003 18:24:18 -0400
   Jeff, When you move inventory from a warehouse to uncontrolled floor stock
   it is a non-event from an accounting viewpoint because the items have not
   been transformed in any way--only their physical location has been
   changed.
   Uncontrolled floor stock is, by definition, uncontrolled and MAPICS does
   not track its physical balances once you issue the IS transaction. This
   means that there is no way to reconcile the G/L balances to physical
   inventory other than manually counting the uncontrolled floor stock on the
   floor.
   If there are significant increases in your standard costs, it is possible
   for your floor stock clearing account to have a negative balance because
   the unit cost for the IX transaction is greater than the unit cost for the
   preceding IS transaction.
   The bottom line is that there are only two things that you can do in this
   situation:
   a.. Make sure that uncontrolled floor stock is only used for low value
   items so the exposure from not being able to track them is minimal.
   b.. Classify high value items as controlled floor stock so they can be
   tracked from a MAPICS work in process area.
   Bob Tenney
   Bob Tenney Solutions, LLC
   MAPICS - FRx - Presence - Crystal Reports
   828-526-8976
   Visit www.tenneypubs.com for books about
   IFM, COM, G/L Interfaces
   Info WorkPlace, Cost Accounting,
   FRx, and PRESENCE
   ----- Original Message -----
   From: "Jeff Snyder" <JEFFREYGSNYDER@xxxxxxxxxxx>
   To: <MAPICS-L@xxxxxxxxxxxx>
   Cc: <ROBERT_ZAMPOGNA@xxxxxxx>; <BOB.TENNEY@xxxxxxxxxxxxx>
   Sent: Tuesday, August 05, 2003 4:24 PM
   Subject: balancing G/L to Inventory
   > hey guys - looking for help, advise here.
   >
   > we would like to interface IM to GL.
   >
   > issues is with Uncontrolled Floor stock
   >
   > If we book the 'IS' misc issue, (reduces INV onhand, one sided)
   > but in G/L cr - Inv dr - flr stk inv
   >
   > and book the 'IX' (when MO opens an IX is generated, along with
   > applying $$ to MO) as a cr to this flr stock acct and dr WIP.
   >
   > We will have our WIP in sync with G/L
   >
   > ?? is How do we reconcile this G/L acct (Flf stk) with reality ??
   >
   > (There is no Onhand at this point in mapics )
   >
   > we are afraid this account will grow over time .
   >
   > Any advise would help
   >
   > Jeff Snyder, CPIM
   > Mapics Consultant
   >
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