Reconnect 17 Configuring the Cost Balancing Work Center
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Available in Update Image 19, a new Fluid Work Center to assist managers and operational leads with the inventory cost ledger period end close process. Consists of My Work and Links to Cost Reconciliation Pages Reports Processes Created only for the Extra Large Form Factor (desktop/laptop)
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Reconnect 17 Configuring the Cost Balancing Work Center
- 1. Prepared by: Session ID: Configuring the Cost Balancing Work Center Stephanie Merenda Sr. Solutions Consultant SmartERP Solutions steph.m@smarterp.com 102680
- 2. Agenda • Overview • Configuring the Work Center • Administrator Tasks • User Options • Alerts, Reconciliations, Reports and Processes
- 3. • Available in Update Image 19, a new Fluid Workcenter to assist managers and operational leads with the inventory cost ledger period end close process. • Consists of My Work and Links to – Cost Reconciliation Pages – Reports – Processes • Created only for the Extra Large Form Factor (desktop/laptop) Overview
- 4. • Inventory cost managers and operational leads get an overview of the tasks remaining before the initiating the period end close • After these exception tasks have been completed, the cost manager can then generate the accounting line entries for the period. • Provides a centralized jumping off point to access many of the reports, inquiries and processes performed during period close Overview
- 5. • Configurable by user so they can focus in on the BU’s or processes for their area of responsibility • The Cost Balancing Work Center is delivered as part of demo data and must be migrated from the Demo database before you can use it Overview
- 7. To activate the pagelets on the work center, navigate to Enterprise Components > Workcenters/ Dashboards > Configure Pagelets Select the COST Configuration ID Administrator Tasks
- 8. Click on the My Work Tab Select the links that you want to use on the Work Center For example, you probably don’t want to select the Pending Calc Production Cost Show Link check box if you have no Manufacturing BUs Check the checkbox if you want to allow users to personalize the display settings Check the checkbox if you want to enable Scope Administrator Tasks
- 9. If you enable Scope, set up Scope Security You can assign security by User ID, Role and/or Permission List Administrator Tasks
- 10. Once you’ve completed your changes, click on the Activate My Work Settings to activate the pagelet changes Administrator Tasks
- 11. Click on the Links Tab Click the checkbox if you want to allow users to add additional links Check the ‘Open in New Window’ checkbox if you want to open a new window when you transfer to the component Click on the Activate Link Settings button once you’ve completed your updates. Administrator Tasks
- 12. On a periodic basis (monthly or weekly, you’ll need to generate the file upon which the information will be based. Click on Cost Balancing Work Center tile and select the Inventory Cost Balancing Report to generate the file Administrator Tasks
- 13. Select an existing run control or add a new one to initiate the process Administrator Tasks
- 14. You must create a stored snapshot for the period of time you wish to review. Select either Print, Store Snapshot Don’t Print, Store Snapshot Click on the Selections Criteria tab Administrator Tasks
- 15. Enter the General Ledger BU associated with the Inventory BU you wish to review and the accounting period Enter the Inventory BU(s) tied to the G/L BU, the primary book to which the inventory transactions are posted Enter the from/to dates if you want to focus in on one week rather than the whole period Administrator Tasks
- 16. In most instances you will want to store all accounts and all items but can narrow the range if you’re looking for specific information Click on the Output Criteria tab Administrator Tasks
- 17. You can sort the report by Item or Tolerance You can specify an Acceptance Tolerance if you want to focus on discrepancies above a certain tolerance percentage and Threshold Leave these fields blank if you want to store or review all variances Click on the Run button to initiate the process Administrator Tasks
- 19. Can be accessed by adding the Cost Balancing WorkCenter tile to a users HomePage User Configuration Options
- 21. Personalize My Work Option to show count (may have performance impact) Select which page is displayed when you bring up the work center You can also have the group collapsed so that only the MY WORK heading appears User Configuration Options
- 22. Personalize Links Option to open a new window, make the link the starting page and to collapse group User Configuration Options
- 23. Scope Options Dependent on whether you allowed Scope definitions when setting up the COST pagelets in Enterprise Components Pre-defined selection criteria that you can reuse Allows you to refine your search without having to enter in selection criteria each time. Select the ‘Scope’, and the results of your pre-defined selections are displayed User Configuration Options
- 24. Configure Scope to create pre- defined selection criteria Click on the Create Scope button to add a new set of selection criteria Enter Label You can optionally copy from an existing set up and then modify as needed Click Done when complete User Configuration Options
- 25. Click on the Details > to view the list of Alerts Click on the Edit Filters Icon to create your selection criteria You must set up scope for each individual Alert if you want to see the predefined criteria for each alert User Configuration Options
- 26. Configure Scope Values Enter your selection criteria Can select values equal to or in a list Click on Done to save your selections User Configuration Options
- 27. Next time you access the Work Center, click on the Scope to view the data based on your previously defined selection criteria User Configuration Options
- 28. Use the Filter option to further refine you output For example, your Scope selection might include all Western Regional Business Units You can still narrow in on a specific BU within the Scope by using the filter This would display the alerts for just the one BU User Configuration Options
- 29. Click on the Download to Excel icon to download your results to a spreadsheet User Configuration Options
- 30. Click the Display Options icon to pick and choose the fields to display in the grid User Configuration Options
- 31. Alerts
- 32. Displays number of violations Click on the alert to see the details of the violations Actions icon provides options for related action Email Run Putaway Process Alerts
- 33. • The number next to the alert tell you how many entries are pending or are in error • If an alert is greyed out, it indicates that there are no pending entries or errors for that alert • You can click on the Related Actions button to perform some action pertinent to the alert – For Putaway Not Completed, you can send an email to the appropriate user to take care of the putaway or transfer to the Load Staged items run control request Alerts
- 34. Putaway Not Completed Selects non- interfaced, interfaced, load staged interface, load staged errors and stockroom feedback lines for incomplete PO, Interunit,, RMA, and Manufacturing putaways. Can further refine lines selected by Putaway State Related Actions Email Load Staged items Alerts
- 35. Demand Not Depleted This occurs if you ship separately and run Depletions later Orders will have been picked, packed, confirmed, shipped but not depleted Related Actions Email Deplete On Hand Qty Alerts
- 36. Pending Calc Production Cost Displays manufacturing completions to stock transaction that have not yet been costed by the transaction costing process Related Actions Cost Accounting Creation Close Production Alerts
- 37. Transactions Not Costed Inventory transactions that have not yet been picked up by the Transaction Costing and Accounting Line creation process Can filter on a specific transaction date or item Related Actions Cost Accounting creation Alerts
- 38. Insufficient Quantity for Depletion Depletion transactions that were not costed due to insufficient quantity on hand Can further filter by specific transaction date or item Related Actions Cost Accounting Creation Alerts
- 39. Other Issue for Not Costed Accounting lines that were not costed due to other issues such as no default actual cost Can further filter by specific date or item Related Actions Cost Accounting Creation Alerts
- 40. Accounting Lines not Created Displays inventory transactions that have been costed but the debit/credit account for the transaction has not yet been determined Can filter by specific date or item Related Actions Cost Accounting Creation Pending Transactions Alerts
- 41. Accounting Line Errors Transactions whose debit/credit account could not be determined due to missing accounting rules Can filter on specific date or item Related Actions Storage Area Accountin g Rules Transactio n Accountin g Rules Alerts
- 42. Accounting Not Posted to General Ledger These are lines that have been successfully costed and the accounting lines have been created but the Journal Generator has not yet been run to post them to the G/L Filter on specific Accounting Date, Transaction or Item Related Action Edit Unposted Accounting Line Generate Journals Alerts
- 43. Item Cost Update Tolerance Items whose new vs prior weighted average cost has exceeded a specified tolerance. If no tolerance was specified, all items are listed Can further filter by item, Cost Difference or % Difference Related Actions Inventory Transactions Entries Inquiry Alerts
- 44. Negative Inventory Items whose quantity on hand or quantity reserved is negative This can occur if the BU allows the system to process a depletion without sufficient receipt quantities You can further filter by Item ID or quantity available Related Actions Negative Balances Inquiry Alerts
- 45. • No Perpetual Average for Depletion – No perpetual average cost was available to cost a depletion transaction • Negative Weighted Average – Items with a negative weighted average cost • Accrued Liability Difference – Displays differences between the credit to the accrued liabilities account from Cost Management and the debit to the same account from Accounts Payable – You must run the Reconcile Accrued Liabilities process first Alerts
- 46. • Cost Balancing Tolerance – Displays those items whose prior period’s cost differs from the current period’s cost by a specified percent tolerance. • If no tolerance was given, then all items with cost differences Alerts
- 47. Reconciliations
- 48. Cost Reconciliation Pages • Links to existing ‘Classic’ components • One stop shopping, all frequently used inquires in one easily accessible location • Everything you can do from classic page is still available in work center – Drill Down/Drill Up
- 49. Reports
- 50. • Takes you to existing run controls • Behaves slightly different from Classic work centers – Need to enter parameters and selection criteria just like running from the regular menu Reports
- 51. Processes
- 52. • Allows you to initiate processes to complete transactions from one central location Processes
- 53. Questions?
- 54. Session ID: Please complete the session evaluation 102680