Transcript FGPO Entry - INFOCentral

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Actual Costing
By MIS Department
What is Actual Costing?
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• Costing done by MG or the Factories is an
estimate only
• Once the goods actually ship, Imports
receives invoices for the various costs on
the shipment
• The Warehouse receives the goods and
compares the receiving to the shipment
records
• When the invoices from the vendors are
PAID, the cost of the goods must be
updated to reflect the ACTUAL COST.
Actual Cost Sheets
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• Actual Cost sheets are created when
receipts are entered into RLM
• There is one actual cost sheet per
shipment
• Each actual cost sheet contains
component costs such as FOB, Freight
and Duty
• All the component costs that exist for a
shipment must be actualized.
(Skip to Main Menu)
Glossary of Training Terms
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• The following terms will be used throughout this
training program:
– Field: A box on the screen into which you enter
information
– Value: The information (data) being entered in the
field. Example: Division number, FGPO number
– Icon: An image you may click to perform a function
such as select, submit or exit
– (Single-)Click: Also “Select.” Hitting the left mouse
button once. This will activate an icon or select a row
in a list of values
– Double-click: Hitting the left mouse button twice o
the same part of the screen. Used only to select and
return a value from a list.
Using the RLM System
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• These are the primary RLM icons you will use:
–
–
–
–
–
Search: Located next to entry fields. Clicking this
icon brings up a pop-up window with a list of all
possible values for the field (for example, the next
to the Division field will show a list of all divisions)
(Shift-F9 keys or F21 key)
Select: Located on the Search pop-up windows.
You may click on a line and click Select to return its
value to the main screen
OK (Submit): Located in the bottom right corner of
each screen. Processes the information on screen
and brings you to the next screen
Return (Back): Located at the top of each screen.
Click this icon to go back one screen (F2 key)
Exit: Located at the top of each screen. Click this
icon to return to the menu or close a pop-up (F3 key)
Sign On
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Enter your User
ID and
Password here
Note: User ID and Password are initially
assigned by MIS. You will be prompted
to change it the first time you login. The
password field IS case-sensitive.
Click OK
Welcome
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Click the check
Click here to
(or hit the Enter
proceed
key) to proceed
(Enter key)
Select Application
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Enter the Company
number (JEI = 01,
DS = 04)
Click the Actual
Costing button in the
menu (position # may
vary)
If you don’t enter a
Company or enter
the wrong number,
you will receive this
error: Click OK
Select Shipment for Costing
Notice the GL
Period Date
Click here if the GL
Period is incorrect
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G/L Period Password
Type the password – press enter to
bring up the period edit fields
Update the
Accounting Period
Month and Year
Click OK to update. You will
have to click Return (F2) to go
back
Select Shipment for Costing
The Operator ID for
Actual Cost entry is
always “@@”
Click “Continue”
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Batch Control for Actual Cost Sheets
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The list of unfinalized actual cost sheets appears. If at least one
component cost is unfinalized, the cost sheet will appear here.
Double-click on a
line to enter that
actual cost sheet
Actual Cost Sheet
The Actual Cost sheet is an estimate
pulled from the cost of the POs on the
shipments. You may update the values
here.
Type “S” on a row
in this column to
select a specific
invoice to assign to
this batch
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FOB for related
factories/vendors is always
automatically approved –
there is no need to actualize it.
For non-related factories or
vendors the A will not appear
so you can update the cost
Click OK
Select Vendor
Type the vendor
number or click the
icon to select from
a list
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Apply Invoice to Component
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Type the invoice
number or click the
icon to select from
a list
Double-click an invoice to
select it, or single-click
and hit the button
Submit Selected Invoice
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Notice that the
monies value has
been filled in
Click OK
Invoice Added
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The invoice
information and
value has been
added to the list
You may add
multiple invoices to
the component cost
by repeating the
search/entry
process
The Variance must
be zero in order to
continue
Remove an Invoice
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To remove an
invoice from the
list, select it
Click OK to
remove the
line
Apply Invoice(s) to Division(s)
Click Apply
Monies to Division
when done
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The division
value(s) will
change
Actual Cost Sheet
Type in or update
the actual freight
and duty for the
shipment in the
Value column
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Type “Y” to allocate the
cost over all POs on the
shipment. Type “N” if
the cost is only for one
style. See “Editing and
Finalizing”
Click OK
Balance the Batch
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Continue adding actual costs until all costs are
entered. When ALL the costs for the shipment have
been entered, you may balance the batch.
Click Balance this Batch
to complete the Actual
Costing – it will no longer
appear in the list of
shipments
Batch in Balance
Hash Totals are
from the Actual
Cost sheet
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Entry Totals are
calculated from the
individual style cost
sheets
The total
Variance
should be
$4.00 or
less (due to
rounding)
Click the printer to
print the batch and
the style cost sheets
Batch Out of Balance
A variance larger
than $4.00 will put
the batch out of
balance
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Click Return and
adjust the Hash
Totals. Allocate
over all the styles
and re-balance
Balance Batch Error
If either of these errors appears contact MIS
immediately
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Actual Cost Sheet
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Once the batch is in balance, approve the
cost lines:
Type “M” here on
each line you
modified to Approve it
Click OK
Cost Lines Approved
You may remove
the M to change
the line as long as
the GL is the
same or prior
Click “Balance
this Batch”
again
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These three columns are
now updated with the
date, your user id and the
GL period
Finish Balancing
Click the scales to
finish the balancing
and remove the
Actual Cost sheet
from the batch list
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Editing and Finalizing the Style Cost Sheets
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• It may be necessary to edit and finalize the
individual style cost sheets that comprise the
actual cost batch
• Editing of the individual cost sheets should only
be done if a portion of the cost for one style is
NOT to be allocated over all the styles in the
batch
– Be sure to type “N” in the “Alloc Y/N” column for that
cost line on the Actual Cost sheet
• If style cost sheets are not finalized, LDP Cost
will not print on the actual cost sheet
• If you change one style cost sheet, it is best to
re-finalize all the styles.
Actual Cost Sheet
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From the Actual Cost
Hash screen, click
“Display/Select Styles”
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Select Style Cost Sheets
Select a line for editing.
Drag the mouse down to
select multiple lines
Right-click and
choose “Select for
Cost Sheet
Entry…”
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Edit and/or Finalize (Step 1)
You may edit the
cost here if
necessary
Use the Page Down
key or click the
small double arrow
to view more lines
on the cost sheet
Click “Finalization”
when done
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Finalize (Step 2)
Click “Continue
Finalization”
Since all style cost sheets were
selected, the next cost sheet will now
display. Return to Finalize (Step 1)
until the screen returns to the list of
styles. See next slide
Finalization Status Codes
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When you finalize a
cost sheet the YNF
field displays “F”
If you enter a cost
sheet and do NOT
finalize the YNF field
displays “Y”
All style cost sheets should be
finalized before you Balance the
batch
Combine Batches
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Sometimes it may be necessary to combine batches,
for example in the event of a manual receiving after
the initial receiving was closed, or if two shipments
share one duty or freight bill.
Type a “C” on the line of each
batch that will be combined into
the new batch
Click
“Combine
Selected
Batches” (F9)
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This will not work if you have already
processed bills on the batches.
What Happens Next
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• The Actual Costs are approved and
removed from the Batch list
• Actual Cost of Inventory will be posted to
the General Ledger at the end of the
month when the Inventory Post is run.