Lynn_Pantic
Administrator
evolution (n) - gradual change to a different form
Posts: 5663
|
First thing to do is run the JC-M report to the screen (don't need a hard copy printout) for all dates, Work Order Status "C" and "X" and confirm that all closed and cancelled work orders have net $0 WIP. If any do not, reopen by using WO-A and changing the status to R, then use WO-I to close answering Y to rebuild stock status. You can enter a date on the WO-I for any variance posting that occurs so long as the accounting period in question is still open.
Today's WIP balance would be shown by JC-M from 00/00/00 through today, for Status R and F work orders, both of which can have costs.
You can also run JC-M as a net change report and compare to the net change in the GL for any given month (or any other date range) by running for a from/through transaction date range and status R, C, F and X.
Keep in mind that the Work Order Status as entered on the screen for this report is the Work Order status TODAY, not back on whatever date range you are running the report for. If you want to get a WIP balance as of (for example) April 30, 2003, you need to run the JC-M report twice. Once for date range 00/00/00 through 4/30/03 and status R & F to get the net of transactions through 4/30 posted to work orders still open. Secondly, you need to run it for transaction date range 00/00/00 through 04/30/03, Status C and X and Actual Finish Date 05/01/03 through today. This second report will give you the net of transactions into WIP through 4/30/03 for workorders that are closed or cancelled today but were open as of 4/30 and have been closed since then. Net WIP 4/30/03 is the sum of the total WIP balance of both these reports.
|
Pages: 1
Proving WIP Account (Read 2466 times)
