Hello,
We have an tricky issue in which we're not sure how to make GP work for this.
We have two sites: SITE1 and SITE2. We are selling one product PRODUCT-ABC. All of the PO receipts are received into SITE1. During the course of the year, we transfer quantities from SITE1 to SITE2. The reason for transfering to SITE2 is because there are some price adjustments we need to make for ceratin quantities that we sell to certain customers.
When transferring quantities from SITE1 to SITE2, how can we allow the user to select the specific quantity layers by the lowest unit costs and be able to transfer those? Apparently, with our FIFO setup, it only allows us to transfer using first in first out.
Please advise
Only way I know of is to make the items lot numbered. That is how I have done it. It adds some work on transactions, but if the end result saves time and money in the long run, it makes it worth it. If unfamiliar with lots, it associates the cost with the lot.
Dan Liebl, CMA CPIM | Senior Consultant | OTT,Inc | DLiebl@OTT-inc.com
Thanks for the reply Dan. Can you tell me more about your lot setup. I know there are expiration date parameters, but I never thought of using it for costing. Are you saying that I can group the quantities based on unit costs by lots? How will GP allow me to pick the lot with the quantities with the lowest unit costs assuming if there were other quantities that were received earlier on the layers? Appreicate the help.
Hi Jay,
Lots gives you a way of specifically picking which items to transfer, you still have to figure out which ones are at the lowest cost. The system doesn't do any of the grouping for you. Each time you receive a quantity of items, you must assign a lot ID to it. Your lot ID would likely be the cost amount - you would name your lot 40.58 if the item cost $40.58. If you get more items in another shipment for $40.58 you can just add them to the 40.58 lot number. Then when it came time to transfer it would be easy for you to pick which lots had the lowest value. All you need to do is sort by lot number :)
Kind regards,
Leslie
Leslie Vail, CPA, MVP, MCT, MCITP, MCP, MCITSASCI, Inc. * PO Box 600965 * Dallas, TX 75360 * 972-814-8550 * leslievail@earthlink.net