July 23, 2009

Obscure Journal References

Ever wonder what some of those strange journal entry references mean? Me too. Well, here is a list of the origins which may be used on Journal Entries that result from a change in average cost that affects sold receipt layers -

BOM - assembly transaction
INV - invoice from the Invoicing module
IVT - inventory transfer
IVA - inventory adjustment
IVV - inventory variance
SALES - sales invoice from Sales Order Processing
PRTN - purchase return
MCTE - for a transaction that originated in Mfg Component Trx Entry
MRCT - manufacturing receipt
MCLS - manufacturing close, including regular close and Quick MO
STCK - stock count variance
FSSC - field service Service Call
FSRMA - field service RMA
FSRTV - field service RTV
FSWO - field service Work Order
PA - project accounting
POP - close a PO line in Edit PO Status
RECON - created by Inventory Reconcile
CONV - created by an upgrade conversion

Bet you were staying up nights wondering about these, huh?

July 20, 2009

FIFO/LIFO Perpetual Stock Status Report

Using FIFO or LIFO Perpetual to value your inventory? Want a Stock Status report that ties back to your GL balance?

Modify the Purchase Receipts report to sum the quantity fields in the Site Footer, then insert calculated fields in the Site Footer and Item Footer to subtract the ‘Sold’ from the ‘Received’ quantities to arrive at the 'On Hand' quantity. The total 'Value Remaining' is what your Inventory account balance should tie to.

Although this won’t work as well if you’re using multi-bin because the Purchase Receipts report only reports at the Site level, it makes a great inventory sub-ledger if you only need a Site level report.