Implementing Manufacturing and Materials Management: From Empty Plant to Costed Work Order · Module 17 · Cost Processing and Close
What breaks
Lesson 181 of 188 · 3 min
"Inventory does not reconcile to the GL." Check in this order. One. Were all transactions transferred to costing — both processes? Two. Were all transferred transactions distributed? Three. Was accounting created in final, not draft? Four. Are the periods aligned — inventory, cost, and GL? Five. Has anyone posted a manual journal to an inventory account? Six. Are there open work orders holding WIP value? That is the processing chain walked in order, plus the two things that come from outside it. Then eight cases. One. "Half the costs are missing." Only one of the two transfer processes was run. Two. "Transactions will not distribute." Cost period closed, or missing cost setup. Three. "Accounting was created but there is nothing in the GL." Run in draft, not final. Four. "WIP on closed work orders is not zero." Variance — which is expected. Or missing transactions — which is not. Know…
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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