Implementing Manufacturing and Materials Management: From Empty Plant to Costed Work Order · Module 17 · Cost Processing and Close
From transaction to journal
Lesson 173 of 188 · 2 min
Five links: physical transaction, transfer to costing, cost distribution, accounting entry, general ledger. And if that shape looks familiar, it should — this is the transaction-to-accounting map from the landscape module, now built and running. Everything you drew on a blank canvas in the second module of this course is configured, and this module is where you watch it work. The processes, and what each one does. Transfer transactions from PRODUCTION to costing brings work order transactions across. Transfer transactions from INVENTORY to costing brings inventory transactions across. Two separate processes, and hold on to that — it is the commonest failure in the module. Then create cost accounting distributions values them and produces the distributions, and create accounting produces the journal entries. Why it is a chain of batch processes rather than instant. Costing is a calculation, sometimes a complex one, run over sets of transactions. It is designed…
The full lesson is part of the course
The video, the complete written lesson and the module quiz are included in Implementing Manufacturing and Materials Management: From Empty Plant to Costed Work Order, with a certificate on completion and a fourteen-day refund window.
In this module: Module 17 · Cost Processing and Close
- 1From transaction to journal
- 2Transferring transactions to costing
- 3Creating cost accounting distributions
- 4Creating accounting
- 5Reading the accounting
- 6Work order variance analysisFree preview
- 7Cost accounting period close
- 8Reconciling to the general ledger
- 9What breaks
- 10Lab: close the period and prove the number