1. Enter in the PO(s) at the correct price with in the PO Module
2. Enter in an AP PrePayment within the Payment Scheduling Module for the Wire Transfer
3. Reconcile the Invoice within PO Reconciliation for the full Value
4. Then do an  AP Offset from the prepayment (Wire transfer) to invoice to satisfy the invoice

Then everything should be accurate from a cost standpoint.

The system allows the supplier to change the terms in the Purchase Setup module.  The purpose of that is to give them the flexibility to setup whatever they want to with customers and suppliers per invoice.  But the AP Aging Report needs to have one term to determine the Aging colmuns.  If we had each invoice list its own terms on the report and attempt to calculate the aging based on each invoice it would cause additional problems within the reporting,etc. . . 

Q.  The Balance Sheet is not sub-totaling Correctly

The following is the way that the accounting normal balances are established within the ManEx General Ledger Account Ranges for the printing of the financial statements.

1. All asset accounts must be set up with the normal balance value as DEBIT, including contra accounts.  The system doesn’t distinguish between a liability and a contra asset on the balance sheet, therefore any contra asset must be identified with a normal balance of debit.  This does not mean that the system will treat contra assets as normally having an accounting balance of debit.  The debit in this field signifies only that it is part of the asset group and not a part of the liability group for the purpose ofprinting of the financial statements.
2. All Liability /Equity accounts must be set up with the normal balance value as CREDIT, including contra accounts.  The system doesn’t distinguish between an asset and a contra liability/equity account on the balance sheet, therefore any contra liability/equity must be identified with a normal balance of credit.  This does not mean that the system will treat contra liability/equity accounts as normally having an accounting balance of credit.  The credit in this field signifies only that it is part of the liability/equity group and not a part of the asset group for the purpose of printing of the financial statements.

Users who have used the old “STANDARD” account setup, found the Depreciation listed as a Credit account instead of a Debit.   Because this example was followed, the reports that total the information behave incorrectly.  Remember, the system can’t distinguish between an asset or a liability/equity account and that’s why the contra accounts must have the same normal range assigned to them as their parent.

For example, all depreciation accounts should be identified as a debit account, including the contra accounts of Accumulated Depreciation.  When transactions are posted, these accounts are automatically (internally) identified as credit transactions.  But when totaled, they would normally be totaled as a credit in a debit account or become a contra charge.

There are two possible remedies for incorrect financial reports based on this issue:

1.(preferred) Go to the system setup, and change ASSET contra accounts to be normal balance DEBIT accounts and change Liability/Equity contra accounts to be normal balance CREDIT accounts . Or-

2.Use the print to Excel format for the financial reports, then individually sum up the subaccounts as desired, and perform subtotals as necessary.  There are new applications which will be available soon to assist the user in this process.

It needs to be emphasized that the data (all transactions and Journal Entries) in ManEx are correct.   It is only the reporting that is affected by the contra accounts being set up improperly for the ManEx System.

Below is the standard setup, and how it should be changed.

To change the normal balance, do the following.  Depress the Edit button.  Type in your password.  Depress the down arrow under the Normal Balance selection.  Select Debit for all contra assets or Credit for all contra Liabilities/Equity accounts.  Depress the Save button.

Users will experience a longer report compile time for the Posted Sales report in 9.0 or later. The reason this report will now take a longer time to compile is due to the changes we made in the routine to pickup the COGS at the time to the Inventory Issue instead of the time of posting. In these changes to make the transactions correct we now have to analyze 5 tables to get the information instead of only looking at one table.

Q.  How do I continue once I've reached the 200th line item in a General Journal Enty?

A.  There is currently a two hundred (200) line edit limit within the Journal entry window.You may overcome this limit by saving then editing the same journal entry as displayed below.

To overcome 200 line limit:

IN GENERAL JOURNAL ENTRY SCREEN, TYPE IN THE FIRST 199 ACCOUNTS:

LOOK AT THE REMAINING BALANCE:

TYPE THIS AMOUNT INTO SUSPENSE ACCOUNT:

NOTE THAT THE REMAINING BALANCE FIELD IS NOW 0.00

SAVE THE ENTRY.  EDIT THE ENTRY.

HIGHLIGHT THE SUSPENSE LINE.

DEPRESS THE DELETE LINE BUTTON.

TYPE IN THE SUSPENSE ACCOUNT NUMBER.

0000000-00-00, at the prompt.

APPROVE THE REMOVAL WHEN THE CONFIRM MESSAGE DISPLAYS BY DEPRESSING THE YES BUTTON.

THE OUT OF BALANCE CONDITION WILL RETURN.

Continue typing in the opening entry.

Source:

This was more than likely due to a Deposit or Check Correction made within the Bank Reconciliation in prior statements.

Resolution:

If users need to enter in a Deposit or Check Correction through the Bank Reconciliation module for what ever reasons, they then have to remember to go back to process the needed Deposit or Check for the correction amount. (via the AR Bank Deposit or AP Check modules)

ManEx system can not create the correcting transaction through the Bank Reconciliation module because the system will not know what the other side of the Transaction will need to be.

Manex Cost Rollup

 The first step is to roll buy parts by determining the percentage change from rollups based on average purchases to the current standard cost, and look at a selected group of items. Put another way these would be items for which the average cost varied from the current cost by the percentage entered. If a zero is entered for the percentage, then all items are calculated and displayed. 

Then the user has the option to select to change to the average cost, or insert a cost manually, or do nothing. If the user elects to change the standard cost, and there is inventory, there is a cost adjustment transaction to the GL to account for the changed inventory value.

After rolling the costs for buy parts then the user rolls up the buy parts for assemblies. This has to be done for each level of assembly used in your BOMs. The same options are available for modifying the standard cost. One difference for assemblies is that all of the costs in the item master (material, labor, oh, other, UDF) for lower level parts  are rolled into the material cost for the upper assembly.  There are also calculations that will amortize the cost of setup and run scrap over a standard lot size, to avoid lumping all of these into the cost of one part.

Again, if there is inventory for the parts (assemblies) being changed, then there are GL transactions recorded to account for changes in inventory value.

Where are  the standard costs used? 

 They are used throughout the system for any transaction involving parts and inventory. The standard cost is the value used when material is transferred from one location to another. This includes warehouse to warehouse, to kits, receiving and issuing parts, dmrs, sales orders, etc. The standard is also used to determine the variances. These include purchasing, configuration and manufacturing variances. In Sales Orders, the standard costs are used to determine the Cost of Goods Sold.

• The value of WIP as determined by the Inventory and WIP Valuation Report is based on the specific material that SHOULD be in the Work Order based on the BOM, less the WO shortages. And is based on the standard cost at the time this report is run. It is basically a REAL TIME report as of the moment it is run.

• The value of WIP as determined in the General Ledger is based on the specific transactions released and posted to the GL that involve the specific account number assigned to WIP. That value can be different from the Valuation Report for the following reasons:

• The ISSUE transactions have not been released and posted to the GL at the time the report was run.

• The RECIEPT transactions have not been released and posted to the GL at the time the report was run.

• The VARIANCE (Configuration and Manufacturing) transactions have not been released and posted to the GL at the time the report was run.

• There may be COST ADJUSTMENTS that occurred between the time the two sources of WIP information were created.

• Closed Work Orders may not have completed the KIT CLOSING operation and posting.

• Check Setup to make sure that the WIP and WO-WIP have not been assigned the same GL account numbers.   The reason is that the inventory report gathers information based on the kitting records, the amount of stuff issued to WIP. Kitting is the only place that material can be placed in WIP. (It is relieved when both work order and kit are closed). So the inventory report is the most accurate assessment of the value of WIP.  On the other hand, WO-WIP is really considered inventory, not WIP. WO-WIP is differentiated so that we can keep track of over-issues to work orders for reels and packaged goods that are difficult to issue exact numbers. This allows us to keep track of such inventory, and is available to meet demands for MRP. IF you happen to have the WIP and WO-WIP using the same GL account numbers transactions will be placing material in WO-WIP through kitting was also placing the value in the WIP account in the GL. So the GL will show both the WIP and the WO-WIP, and the inventory report will only show the actual WIP values. The inventory report includes the WO-WIP in the INVENTORY column, not the WIP column.