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Dynamics 365 Community / Forums / Microsoft Dynamics GP (Archived) / Closing Mnufcturing or...
Microsoft Dynamics GP (Archived)

Closing Mnufcturing orders

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Posted on by Mary N 50

Since variances between estimated and actual manufacturing costs are transferred from WIP to finished goods only when manufacturing orders are closed, how often  must manufacturing others be closed?

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I have the same question (0)
  • Verified answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,627 Moderator on at

    They should be closed as soon as they are completely received.  It's not typically a scheduled process.

  • Mary N Profile Picture
    Mary N 50 on at

    Inventory was received  at supplier cost and not total landed cost in error.

    Effect:    inventory and  accured purchases  understated

    The error was corrected by using the "adjust cost" function to correct cos and inventory  in the inventory module

    The  corrected cost was then entered as the current cost in the item card

    I am now in the  process of matching invoices however only the supplier cost is entered . When I match the invoice   DR Accured Purchases    CR   Parables

    The correct amount is reflected in payables  and the Accured Purchases account will net off

    How do I when correct the price variance account for the additional landed cost?

    Do I  enter a journal to

    CR   Price  Variance

    DR   the offset account which was affected when the adjust cost function was used.

    Much thanks

  • Verified answer
    Frank Hamelly | MVP, MCP, CSA Profile Picture
    Frank Hamelly | MVP... 46,627 Moderator on at

    Yes, I would just do a journal to record the landed cost as long as all other costs are recorded properly.

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