presented by: debbie waggoner, gcs premier sr. systems...
TRANSCRIPT
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Understanding the Accounting Side of Material ManagementPresented By: Debbie Waggoner, GCS Premier Sr. Systems
Consultant, WJ Technologies, LLC
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Session OverviewUnderstanding what types of transactions affect the General Ledger is the first step in effective material management
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Product Definition
11/20/20143 ©2014 Deltek, Inc. All Rights Reserved
Do any applications In Product Definition impact the G/L? No Product Definition, specifically the Part Master File, can be used in the
Requisition and Purchasing modules The Part Master File is required if the Inventory and Bills of Materials
modules are used The Part Master File is optional in the Sales Order Entry module
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Requisitions
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Do Requisitions have any GL impact? No. Requisitions update the Inventory Master File with Quantity on Requisition
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Requisitions
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The Requisition module does have a Requisition Commitments report. However, that report is unrelated to the Purchasing Commitments which will appear on the JSR.
The Requisition Commitment report is used to show the requisitions that have not been generated to a PO
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Purchasing
11/20/20146 ©2014 Deltek, Inc. All Rights Reserved
What effect does entering a purchase order have?
Commitments Automatically updates the Purchasing Commitments report. JSR is not updated until Compute Cost & Revenue is run with flag checked
to include purchase order commitments – No G/L impact
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Purchasing
11/20/20147 ©2014 Deltek, Inc. All Rights Reserved
What effect does entering a purchase order have? On Order quantities for Inventory
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PO Receipts
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Creates Stocking eligibility for Inventory(acceptance) Creates eligibility for Purchasing Accruals
Accruals update the G/L once Print/Post Purchasing Accruals is executed
Vendor ID and unit cost from PO are locked on the Receipt Changes to PO will not be reflected on existing receipt
records
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PO Receipts
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Changing a receipt after parts have been stocked can cause reconciliation issues with Inventory
Updates Inventory Tracking files
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Vendor Invoice/AP Voucher Creation
11/20/201410 ©2014 Deltek, Inc. All Rights Reserved
Voucher Creation moves vendor invoices to AP module Updates PO Summary Report with voucher number Does NOT post to the General Ledger
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Vendor Invoice/AP Voucher Creation
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Post AP Voucher Distribution Reverses accruals Clears Commitments Posts PO costs to GL Updates Labor Summary File for Subcontractor hours/labor categories
Changes to vouchers in AP will not update PO Manual updates to Purchasing must be done if AP Voucher is changed Change Vouchered Receipts Change Vouchered Debit Memos
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Inventory
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Inventory Types Include:
Type 1 – Balance sheet/Asset account Type 4 – WIP Contract Type 6 – Contract
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Inventory
11/20/201413 ©2014 Deltek, Inc. All Rights Reserved
Inventory Account Issues Which type of issues post to the General Ledger?
Type 1 to Type 1 = Yes Type 1 to Type 6 = Yes Type 4 to Type 4 = No (Within same contract) Type 6 to Type 6 = No (Within same contract)
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Inventory
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Transfers Which type of Transfers post?
All transfer types post to the G/L
Type 1 to Type 1 Type 1 to Type 6 Type 4 to Type 4 Type 4 to Type 6 Type 6 to Type 1 Type 6 to Type 6
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Inventory
11/20/201415 ©2014 Deltek, Inc. All Rights Reserved
Adjustments Which type of adjustments post?
All adjustments post but some may not change the G/L Balance
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Inventory
11/20/201416 ©2014 Deltek, Inc. All Rights Reserved
Cost only adjustment Set scrap account equal to inventory account
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Inventory
11/20/201417 ©2014 Deltek, Inc. All Rights Reserved
Quantity only Set scrap account equal to inventory account
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Inventory
11/20/201418 ©2014 Deltek, Inc. All Rights Reserved
Scrap adjustments Type 1 scrap adjustments post to G/L Type 6 scrap adjustments do not post to G/L
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Inventory
11/20/201419 ©2014 Deltek, Inc. All Rights Reserved
Posting Inventory Journal Inventory Control>Utilities/Processes>Print/Post Inventory Journal
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Inventory
11/20/201420 ©2014 Deltek, Inc. All Rights Reserved
Posting Types ISS XFR ADJ
Fiscal Year End Procedure No G/L activity, but has to be done before the G/L is closed Resets YTD Usage Field in Inventory Master File
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Order Entry
11/20/201421 ©2014 Deltek, Inc. All Rights Reserved
There are 2 transactions in the Order Entry module that eventually post to the GL
Enter/Edit Issues to Sales Orders Posted to GL when the Inventory Journal is posted
Generate Invoices from Sales Orders/Shipments Posted to GL in AR module Print/Post Generic Billing Journal
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Conclusion
11/20/201422 ©2014 Deltek, Inc. All Rights Reserved
The only Material Management applications that directly affect the GL are:
Print/Post Purchasing Accruals Print/Post Inventory Journal
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Questions?
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Contact Us
11/20/201424 ©2014 Deltek, Inc. All Rights Reserved
For more information feel free to call or email us or visit us at Booth 16:
Debbie Waggoner, GCS Premier Sr. System Consultant [email protected] 703-885-8157
Karen Louis, Managing Member [email protected] 703-885-8158
13665 Dulles Technology DriveHerndon, VA 20171www.WJTechnologies.com