Beginning Inventory (ACT Tagged)

Transcription

1 Beginning Inventory (ACT Tagged) Inventory will have pre-printed tags. The cost of the beginning inventory is entered and establishes the ACT of each tag using the BEG-INVENTORY Financial Amount. 1.0 Physical Count in yard or print Inventory report from current system. Create a Work Order for each Grouping of inventory counted based on value grouping. 2.0 Create Work Order Header 2.1 From the Menu View, select Production Work Order or - use the Work Orders filter to select the work orders to view. 2.3 to create a new work order header - or - right-click in the header and select New. Complete the appropriate fields in the Work Order header. 2.4 The New Work Order window defaults with the Work Order category open. Enter the following fields in the Work Order category: Location Reference # = Grade/Size/Thickness grouping Machine Center = BEG-BAL As this window is customizable, your window may not look the same as shown here. Please refer to "Customizing Data Entry Windows" for information on customizing this, and other entry windows. Type in valid entries in each required field, or use the lookups to select an entry.

2 3.0 Add Items 3.1 Select the Production tab. Since costs are ACTUAL, one line item per known cost/product grouping will be required to have accurate ACT costing. Right-click in the Production tab and select New. The New Production: <work order number> window displays. The New Production: <work order number> window defaults with the Product category open. As this window is customizable, your window may not look the same as shown. Type valid entries in each required field, or use the drop downs or lookups to select entries. The following are required for each product class. 3.2 LUMBER: Length Pkg Type HW-LUMBER: Width Length MACHINED: Thickness Width SIDING: Length Tag Entry Tags may be assigned on the Production tab once the product is entered. To add tags to production items: 1. Select an item in the Production tab and click on the Toolbar. The Production Tags window displays. 3.3 When this dialog first displays, the grid is empty as no tags have been assigned to items. 2. Click to begin entering tag numbers of the items to receive. If working with pre-printed tags, use the information in the following section. If not using pre-printed tags, use the information in "Working With

3 Non-Preprinted Tags". Working With Non-Preprinted Tags Use the steps below if tags are to be assigned to products with non-preprinted tags (Preprint tags option is set to "No" in the Location Master). With preprinted tags, tags may be entered one at a time, or generated for a product by using the "Generate" feature. To add items using non-preprinted tags: 1. From the Production Tags window click The New Production Tags / New Detail window displays The tag header information is entered in the New Tags pane and the tag detail information is entered in the New Detail pane. Enter the required information as described: A. Add The Tag Header With preprinted tags, the tag number is entered automatically. Enter the required information in the New Tags fields: Field Name Description Aged Date: The aged date of the tagged item. Shrinkage: The percentage of shrinkage, if applicable to the HW-LUMBER product so The header information is saved, and the tag detail pane is available for entry. B. Add The Tag Detail The tag detail may consist of multiple tag entries for each tag header. Enter the required information in the New Detail fields Field Name Description Length: Enter the length for the tagged item. Width: Enter the width for the tagged item.. Pieces: Enter the number of pieces within the tag. The tag detail is saved. Additional tag detail may be entered (repeat "B" above). 3. At this point, the tag has been successfully entered. To add another tag click - or - To return to the Production Tags window click

4 Adding Items Using Preprinted Tags Use the following steps if tags are assigned to products with preprinted tags (Preprint tags option is set to "Yes" in the Location Master). Tag numbers are either entered manually, one at a time or several tags are created using the generate option. To add items using preprinted tags: 1. From the Production Tags window click The New Production Tags / New Detail window displays The New Tags / Detail window contains 2 panes for entering the tag (New Tags and New Detail), and there are 2 separate steps required to create each tag. The tag header information is entered in the New Tags pane and the tag detail information is entered in the New Detail pane. A. Add The Tag Header The first step in creating tags is to enter the tag header information. The tag number is entered manually. Enter the required information in the following fields: Field Name Description Tag Number The unique value identifying the tagged item. With preprinted tags, the tag generated automatically and cannot be entered. Shrinkage: The percentage of shrinkage, if applicable to the HW-LUMBER product so Aged Date: The aged date of the tagged item. Categories: The product categories as defined in the Product Type Master. The header information is saved, and the tag detail pane is available for entry. B. Add The Tag Detail The second step in creating tags is to enter the tag detail information. The tag detail may consist of multiple tag entries for each tag header. Enter the required information in the following fields Field Name Description Length: Enter the length for the tagged item. Width: Enter the width for the tagged item. Pieces: Enter the number of pieces within the tag.

5 The tag detail is saved. Additional tag detail may be entered (repeat "B" above). 3. At this point, the tag has been successfully entered. To add another tag click - or - To return to the Production Tags window click Close the Production Tags window by clicking The Work Order window displays. 3.6

6 4.0 Add Beginning Inventory Value to access the Financial Amounts window: 4.1 Select to add new Financial Amounts. Select BEG-INVENTORY as the Financial Amount. Enter Total Value of inventory produced on the work order Financial Amounts are automatically calculated and displayed.

7 4.4 Close the Financial Amounts window.

8 5.0 Allocate Costs 5.1 Select the Allocate Costs tab. Right-click and select Allocate Costs. ** THE DATE MUST REFLECT THE ACCURATE DATE TO STAMP THE CORRECT FISCAL PERIOD. You can back date it. Cost Allocation Calculation: 5.2 Consumption Cost + Cost Operations = Costs allocated to Production Costs are allocated and the Allocate Costs tab displays. 5.3

9 6.0 Modify Costs (if necessary) 6.1 Select the Allocate Costs tab. Right-click and select Modify Costs. You must leave one item not modified to absorb the balance. 6.2 Enter the new Unit Costs or Total Costs for each item. 6.3 Effect on ACT: Total cost of a produced item divided by total units produced will become the ACT for the item. ** Total Cost must be allocated (i.e. Balance = 0.00) before the modified costs can be saved. 6.4 To save modified costs and return to Work Orders click

10 7.0 Complete Work Order to change the work order status: 7.1 **Status Changes Work Orders must only be changed to Complete" once the A/R is all entered in lumbertrack, reconciled and correct. This is to ensure no Beginning Balances are stamped in an incorrect Fisca Period. It is best to enter ALL Work Orders, ALL Production, then complete them all. 7.2 Select "Complete" and click Once all work orders have been completed, print the Inventory Status Report to ensure on hand inventory in lumbertrack matches the physical count sheets or inventory report used for determining the beginning inventory, as well as the ACT Reconciliation Report to validate costing is true.