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Processing a Period End Close in MFG/PRO

Processing a Period End Close in MFG/PRO. Midwest User Group September 27 & 28, 2004 Carol Cvitkovich and Maureen Hunt QAD Global Services. Period End. General Ledger Calendar Security Settings (Entity, Site, Account, Menu Options) Transaction Posting

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Processing a Period End Close in MFG/PRO

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  1. Processing a Period End Close in MFG/PRO Midwest User Group September 27 & 28, 2004 Carol Cvitkovich and Maureen Hunt QAD Global Services

  2. Period End • General Ledger Calendar • Security Settings (Entity, Site, Account, Menu Options) • Transaction Posting • Balancing Sub Ledgers to General Ledger • Financial Statements

  3. Common Issues at Period End • Processes and Procedures • Customer Expectations • Processing Cutoff Time • Reporting Requirements • MFG/PRO Configuration

  4. Control Files • System Account Control File • General Ledger Control File • Account Maintenance • Inventory Control File • Sales Order Control File • Work Order/Repetitive Control File • Accounts Payable Control File • Accounts Receivable Control File

  5. General Ledger Control File

  6. Account Maintenance

  7. GL Account Flow TransactionsPO, SO, WO, etc.(Can override default accounts) PL Inv Accts 1.2.13Default per site/location PL Sales Accts 1.2.17Default per channel, site, cust type, PL • Customer Accts, 2.1.1 • Supplier Accts, 2.3.1 • Site Accts, 1.1.13 Dept. Accts. 14.1Work Center Defaults Product Line (PL) Accts1.2.1Item Defaults System/Account Control File 36.1General Defaults

  8. Inventory Flow Purchase Order Receipts Inspection Raw Materials & Service Items Work-in- Process Finished Goods Shipments to Customer

  9. GL Consequences of Unplanned Inventory Transactions Inventory Transaction Debit Account Credit Account Unplanned Receipt Inventory Purchase Expense Unplanned Issue Cost of Production Inventory Sales Return Inventory Sales Returns Return to Supplier Purchase Expense Inventory Return to Stock Inventory Cost of Production Receipts-Backward Inventory Work In Process Work in Process Inventory Work in Process Labor Work in Process Burden Work in Process WO Variance Cycle Count Adjustment Inventory Inv Discrepancy

  10. Accounts Payable Inventory Balances Supplier Performance History General Ledger Purchasing Life Cycle Purchasing Blanket Order Record PO Return MRP Receive Purchased Items Maintain Purchase Order (5.7) Requisition Scheduled Order

  11. Accounts Receivable Journal General Ledger Journal Invoice History Sales Tax Journal Sales Analysis Sales Order Life Cycle Enter the Sales Order Process the Sales Order Process the Shipment and Invoice

  12. Work Order Life Cycle Create work order or approve MRP planned order Issue work order components (optionally record labor in SFC) Modify work order bill and routing Receive work order Release and print work order Perform work order accounting close Check for work order components Delete/archive obsolete work orders = optional

  13. 16.3.4 – Work Order Cost Report woworp05.p 16.3.4 Work Order Cost Report Date: 12/12/99 Page: 1 MFG/PRO Training DB - V90 Time: 17:06:25 Work Order: 12100007 ID: 401405 Batch: Remarks: Item Number: 44-100 Sales/Job: Qty Ordered: 10.0 Order Date: 12/11/99 STD CONTROL UNIT, HOME USE Qty Completed: 10.0 Release Date: 12/12/99 Status: C Supplier: Qty Reject: 0.0 Due Date: 01/06/00 Expected Accrued Rate Usage Avg Cost Accumulated Cost Variance Accumulated Variance Variance Received to Item Number Quantity (Ref Only) (Ref Only) Cost Posted Posted Finished Goods Balance -------------------- ------------ ------------ ------------ ------------ ----------- ------------ -------------- ------------ 44-1000 20.0 2,000.000 0.00 2,000.000 0.00 0.00 0.000 2,000.00 44-2000 10.0 500.000 0.00 500.000 0.00 0.00 0.000 500.00 44-3000 10.0 1,000.000 0.0 1,000.000 0.00 0.00 0.000 1,000.00 44-4000 10.0 100.000 0.00 100.000 0.00 0.00 0.000 100.00 44-5000 10.0 100.000 0.00 100.000 0.00 0.00 0.000 100.00 44-7000 10.0 100.000 0.00 100.000 0.00 0.00 0.000 100.00 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Material Total: 3,800.000 0.00 3,800.000 0.00 0.00 0.000 3,800.00 Operation: 10 0.0 0.000 0.00 0.000 0.00 0.00 0.000 0.00 Operation: 20 0.0 0.000 0.00 0.000 0.00 0.00 0.000 0.00 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Labor Total: 0.000 0.00 0.000 0.00 0.00 0.000 0.00 Operation: 10 0.0 0.000 0.00 0.000 0.00 0.00 0.000 0.00 Operation: 20 0.0 0.000 0.00 0.000 0.00 0.00 0.000 0.00 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Burden Total: 0.000 0.00 0.000 0.00 0.00 0.000 0.00 Operation: 10 0.0 0.000 0.00 0.000 0.00 0.00 0.000 0.00 Operation: 20 0.0 0.000 0.00 0.000 0.00 0.00 0.000 0.00 ------------ ------------ ------------ ------------ ------------ ------------ ------------ Subcontract Total: 0.000 0.00 0.000 0.00 0.00 0.000 0.00 ------------ ------------ ------------ ------------ ------------ ------------ ------------ WO Subtotal: 3,800.000 0.00 3,800.000 0.00 0.00 0.000 3,800.00 - Std Cost Rcvd: -3,800.00 - Scrapped: 0.00 - Mthd Chg Var: 0.00 ------------ Balance: 0.00

  14. 16.21 – Work Order Accounting Close wowocl.p 16.21 Work Order Accounting Close Date: 01/18/99 Page: 1 MFG/PRO Training DB - V90 Time: 11:27:54 Work Order ID Item Number Site Qty Ordered Qty Completed Qty Reject SO/Job Project Eff Date ------------------ -------- ------------------ -------- ------------ ------------- ------------ -------- -------- -------- 1000 1000 03-0030 train 2.0 2.0 0.0 DESIGN 01/18/99 DISPLAY RACK GL Reference Type Dr Acct CC Description Cr Acct CC Description Amount -------------- --------------- -------- ---- ------------------------ -------- ---- ------------------------ ------------- WO990118000001 WO-CLOSE 1600 WORK IN PROCESS 6500 5040 LABOR ABSORBED 10.00 WO990118000002 WO-CLOSE 1600 WORK IN PROCESS 6400 5040 BURDEN ABSORBED 20.00 WO990118000003 WO-CLOSE 1600 WORK IN PROCESS 6500 5040 LABOR ABSORBED 10.00 WO990118000004 WO-CLOSE 1600 WORK IN PROCESS 6400 5040 BURDEN ABSORBED 20.00 WO990118000005 WO-CLOSE 1600 WORK IN PROCESS -20.00 IC990118000002 WO-CLOSE 1600 WORK IN PROCESS -9.20 IC990118000003 WO-CLOSE 1600 WORK IN PROCESS -52.80 IC990118000004 WO-CLOSE 1600 WORK IN PROCESS -2.30 IC990118000005 Method Change 6200 0500 METHOD CHANGE VARIANCE 1600 WORK IN PROCESS 18.15 --- End of Report ---

  15. 16.3.5 – Work Order WIP Cost Report woworp09.p 16.3.5 Work Order WIP Cost Report Date: 12/12/99 Page: 1 Time: 17:39:11 Account: 1600 0100 Project: Work Order Material Burden Qty Finish Completed Cost Batch ID Item Number Labor Subcontract Open Avg Unit Cost WIP Cost ------------------ -------- ------------------------ --------------- --------------- ----------- --------------- --------------- 12100009 401407 44-100 76,000.00 8,000.00 0.0 380.00 0.00 CONTROL UNIT, HOME USE 4,000.00 0.00 200.0 88,000.00 CC: 0100 Total: 76,000.00 8,000.00 0.00 4,000.00 0.00 88,000.00 Account 1600 Total: 76,000.00 8,000.00 0.00 4,000.00 0.00 88,000.00 Report Total: 76,000.00 8,000.00 0.00 4,000.00 0.00 88,000.00

  16. Rate Usage Method Labor Burden Scrap Advanced Repetitive Variances

  17. 18.22.4.9 – Repetitive Operations Accounting Report

  18. 18.22.4.13 – Wip Valuation Report:

  19. Shipments Processed • Invoices Printed and Posted • Credit Invoices Processed • DR/CR Memo Entered and Posted • Payments Processed • Finance Charge AR Period End Preparations

  20. 27.18 – AR Aging as of Effective Date: arcsrp05.p 27.18 AR Aging as of Effective Date Date: 05/11/00 Page: 1 MFG/PRO Training DB - V90 Time: 13:19:12 Reporting Currency: USD Exchange Rate: USD 1.0 = USD 1.0 Dn Less Than 30 Over 30 Over 60 Over 90 Ref T Eff Date Due Date Inv Date Cr Terms Lv Days Old Days Old Days Old Days Old Total Amount ----------- ---- -------------- ------------- -------------- ----------- ----- ------------------ ------------------ ------------------ --------------- ------------------ 1001000 CENTURY HALLMARK State: CA Last Payment: 10/01/99 Attn: JANE DOE Tel: 213-555-0394 10000 I 09/06/91 10/06/98 09/06/98 2/10-30 0.00 0.00 0.00 20,725.00 20,725.00 10003 I 02/12/94 03/14/99 02/12/99 2/10-30 0.00 0.00 0.00 191.25 191.25 10004 M 02/15/94 02/15/99 02/15/99 0 0.00 0.00 0.00 -2,000.00 -2,000.00 1004 M 01/28/00 02/27/00 01/28/00 2/10-30 0.00 0.00 100.00 0.00 100.00 97-10000 I 01/28/00 02/27/00 01/28/00 2/10-30 0.00 0.00 358.00 0.00 358.00 ------------------ ------------------ ------------------ --------------- ------------------ USD Customer Totals: 0.00 0.00 458.00 18,916.25 19,374.25 ------------------ ------------------ ------------------ --------------- ------------------ USD Report Totals: 0.00 0.00 458.00 18,916.25 19,374.25 Invoices: 21,274.25 Dr/Cr Memos: -1,900.00 Finance Charges: 0.00 Unapplied Payments: 0.00 Drafts: 0.00 Total USD Aging: 19,374.25 Aging at 05/11/00 Exchange Rate: 19,374.25 Variance of 05/11/00 to Base: 0.00 AR-PR-140

  21. ardrrp.p 27.3 DR/CR Memo Register Date: 01/26/00 Page: 1 MFG/PRO Training DB - V90 Time: 10:49:49 Batch: 1001 Name Bill-To Exch Rate Date Contest Cr Terms Amount Reference Type Sold-To PO Eff Date Tax Date Enty Account Dn Lv Cur C Applied Amt ------------ ------ ----------- ----------------------------------- ----------- ----------- ------- ----------- ----------- ------ - ----------------- 10003 Inv 1001000 CENTURY HALLMARK 02/12/99 no 1000 1200 2/10-30 USD 191.25 1001000 USD 1.0 = USD 1.0 02/12/99 02/12/99 0 0.00 Base Batch 1001 Total Amount: 191.25 Applied Amt: 0.00 Base Report Total Amount: 191.25 Applied Amt: 0.00 General Ledger Detail Entity Account CC Project Date Eff Date Description Debit Amount Credit Amount -------- ----------- ------- -------- ----------- ----------- ---------------------------------- ------------------ ------------------ 1000 1200 02/12/99 02/12/99 1001 I 10003 1001000 191.25 0.00 ------------------ ------------------ 191.25 0.00 3000 0100 02/12/99 02/12/99 1001 I 10003 1001000 212.50 ------------------ ------------------ 0.00 212.50 3905 0100 02/12/99 02/12/99 1001 I 10003 1001000 21.25 ------------------ ------------------ 21.25 0.00 ------------------ ------------------ 212.50 212.50 27.3 – DR/CR Memo Register AR-PR-170

  22. arparp.p 27.6.6 Payment Register Date: 01/28/00 Page: 1 MFG/PRO Training DB - V90 Time: 11:49:14 Batch: 1008 Cur Date Cash Acct Check Bill-To Name T Exch Rate Amount Eff Date Enty Dsc Acct ----------- ----------- ---------------------------------- - ----------------------------------- ---------------- ----------- ------- ------------ 158002 1001000 CENTURY HALLMARK P USD 5,000.00 10/01/99 1000 1040 USD 1.0 = USD 1.0 10/01/99 3910 ---------------- Base Batch Total: 5,000.00 ---------------- Base Report Total: 5,000.00 General Ledger Detail Entity Account CC Project Date Eff Date Description Debit Amount Credit Amount -------- ------------ ---- -------- ------------- ------------- --------------------------------- ------------------ ------------------ 1000 1040 10/01/99 10/01/99 1008 P 1001000 158002 5,000.00 0.00 ------------------ ------------------ 5,000.00 0.00 1200 10/01/99 10/01/99 1008 P 1001000 158002 5,000.00 ------------------ ------------------ 0.00 5,000.00 ------------------ ------------------ 5,000.00 5,000.00 27.6.6 – Payment Register AR-PR-190

  23. Accounts Payable Period End Preparations • Supplier Invoices Processed • Credit Vouchers Processed • Bank Statements Reconciled • AP Transactions Completed AP-PR-080

  24. General Ledger Unposted Transaction File Post Transactions to GL Accounts • Accounts Payable - AP • Confirmed Vouchers • Payments Print AP Audit Reports AP GL Transactions

  25. Item Master GL Material Cost = 4.75 Purchase price variance = +.25 Purchase Order Item Qty Unit Extended LineNo.TDueOpenUMCostCost 1 100 N 6/30 15 ea. 5.00 75.00 AP usage variance = -1.0 AP rate variance = +.25 Supplier Invoice Item Extended No.UMShippedBackorderTaxPricePrice 100 ea. 14 0 N 5.25 73.50 Purchasing Variances

  26. apicrp01.p 28.11 Voucher/Std Cost Variance Report Date: 05/22/00 Page: 1 MFG/PRO Training DB - V90Time: 09:27:26 Item: 44-100 CONTROL UNIT, HOME USE PO Extended Extended Invoice-Std Invoice-Std Supplier Voucher T C Std Cost Invoice Cost Invoice Qty Std Cost Invoice Cost Unit Var Extended Var ----------- ----------- - - -------------- ----------------- -------------- -------------- ----------------- ----------------- ----------------- 5003000 PO1003 90.00 2.00 100.0 9000.00 200.00 -88.00 -8800.00 10002 -------------- -------------- ----------------- ---------------- USD Item Total: 100.00 9000.00 200.00 -8800.00 --- ---------------- USD Report Total: -8800.00 28.11 – Voucher/Std Cost Variance Report: AP-PR-110

  27. glutrrp.p 25.13.14 Unposted Transaction Register Date: 12/13/99 Page: 1 MFG/PRO Training DB - V90 Time: 14:34:26 GL Reference Entered Eff Date User ID Line Account Project Enty Description Amount Cur Daybook -------------------- --------- ----------- ---------- ---- -------------- -------- ---- ------------------------------ ------------------ --- -------- IC991026000001 10/26/99 10/26/99 bp 1 6300--0100 1000 ISS-UNP 19.20 USD SYSTEM 2 1500--0100 1000 ISS-UNP -19.20 USD SYSTEM ------------------ 0.00 USD Debit Total: 19.20 USD Credit Total: 19.20 USD 25.13.14 – Unposted Transaction Register:

  28. 25.13.1 Standard Transaction Maintenance

  29. Review Posted Transactions

  30. Complete Module Period End Processing Enter and Post Corrections and Reprint Reports Close GL Calendar to Other Modules Enter and Post Module GL Transactions Close GL Calendar to GL module Print and ReviewFinancial Reports GL Transaction Processing Flow Overview

  31. Complete Module Period End Transactions Created in GL Module Exchange Rate Maintenance GL Financial Reports Resolve Discrepancies Unrealized Exchange Gain/Loss Close GL Calendar to GL Module GL Period End Processing

  32. General Ledger Calendar

  33. Reversing Entries

  34. Recurring Journal Entry – Transaction Copy

  35. Exchange Rate Maintenance Translation Exchange Rates Import GL Transactions Unrealized Exchange Gain/Loss Imported Transaction Revaluation Consolidated Financial Reports Resolve Discrepancies Close GL Calendar to GL Module Consolidation Database Processing

  36. Translation Exchange Rate Maintenance

  37. Transaction Import

  38. gltrimp.p b 25.19.15 Transaction Import Date: 03/12/00 Page: 1 QUALITY PENCIL COMPANY Time: 14:33:16 Source Record Imported Record Account GL Reference Line Amount Curr Amount Cur GL Reference Line Account Amount---------- ---------------------- ------ ------------- ---------------- ----- --------------------- ------ ----------- ------------- 1040 CS073199000000 36 -2,500.00 0.00 USD XX990707000005 1 1040 -2,500.00 1200 CS073199000000 37 3,500.00 0.00 USD XX990707000005 2 1200 3,500.00 2400 CS073199000000 38 2,500.00 0.00 USD XX990707000005 3 2400 2,500.00 3000 CS073199000000 39 -3,500.00 0.00 USD XX990707000005 4 3000 -3,500.00 25.19.15 – Transaction Import

  39. Exchange Rate Maintenance

  40. Imported Transaction Revaluation

  41. Post Transaction Types XX and XY Transaction Post

  42. General Ledger Calendar Maintenance

  43. GL Year End Close Processing Complete GL Period End Processing Print Annual Financial Reports Resolve Discrepancies Backup Database Year End Close Retroactive Transactions

  44. Transaction Year End Close

  45. Tips to help Month End Processing • General Ledger Control File -Do not allow changes to module transactions • In Multiple Entity Database, set Balanced Entities to Yes • In Account Code Maintenance consider using Sub-Module only entry • Validate the Translation Index in Account Code Maintenance • Ensure that the System Account Control File is set to verify GL Accounts • Ensure that the default Chart of Accounts defined in System Account Control File is accurate • Verify General Ledger Accounts/Sub-Account/Cost Center in Product Line

  46. Tips Continued • Utilize Inventory Account Maintenance, Work Order Account Maintenance, Sales Account Maintenance, Purchase Account Maintenance • Establish Cut Off times for Processing transactions • Post transactions during the month • Balance General Ledger to Sub-Ledgers periodically during fiscal period

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