IM1701 Inventory Management Material Cost Type/Loc File Maintenance
Material Cost Type/Loc File Maintenance
Application Overview
Material Cost Type/Loc File Maintenance allows you to keep track of inventory cost by material cost type within a particular location. If you are using multiple warehouses and you wish to track costs within warehouses, simply enter a material cost type account for each warehouse. The Customer Order Processing package will post the cost of each item sold to the correct inventory asset account. The Purchase Order package will utilize the asset account when purchase orders are entered. Inventory Transaction Processing will also use the asset accounts to distribute transactions.
The purchase price variance account will be used by the Accounts Payable package to accumulate differences between an item's invoiced amount and its received cost in the Purchase Order and Receiving package. It will also be used if I/M Setup is set to create automatic distributions during the posting of physical count tags.
Run Instructions
Select Material Cost Type/Loc File from the pull down I/M Maintenance window. The following screen will then be displayed:
Material Cost Type/Loc File Maintenance Entry Screen
The following options are available:
- Select the desired mode from the Material Cost Type/Loc Acct File menu bar
- Enter the data requested on the screen
To return to the menu bar, press the ESC or F10 key. To leave this application, press X for EXIT when positioned at the menu bar.
Entry Field Descriptions
Name | Type and Description |
1. Material Cost Type | 1 alphanumeric character. Enter a valid material cost type number or code. The material cost type description will display automatically. Press the F7 key to search for material cost type. |
2. Location | 2 alphanumeric characters. Enter the location for the material cost type. The location description will display automatically. Press the F7 key to search for location. |
3. Inv Asset Acct | A standard account format. Enter the inventory asset account for this material cost type at the above location. The entered account must be a valid I/M account. Press the F7 key to search for the account-by-account number or press the F8 key to search for the account by description. |
4. Purchase Price Variance Acct | A standard account format. Enter the purchase price variance account for this material cost type at the above location. The entered account must be a valid I/M account. Press the F7 key to search for the account-by-account number or press the F8 key to search for the account by description. This account is used in Accounts Payable to accumulate variances from the received cost of the item in the Purchase Order and Receiving package and the actual invoiced amount in Accounts Payable. It is also used to create distributions during posting of physical count tags if flag #24 in I/M Setup is set to Y. |
Material Cost Type/Loc File Maintenance
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