Bill of Materials Inventory Costing Update

 

Function

The Bill of Materials Inventory Costing allows printing and/or costing of exploded bills of material for all bill numbers or for a selected range of bill numbers. The costs of all components will be updated from the Inventory Master File. The costs of subassemblies are first updated in the Inventory Master File and then retrieved to calculate the cost of the higher assembly . The cost of the higher assembly is then updated in the Inventory Master File. When running this task, the user is reminded to first run a BOM Costing Report, and to run Inventory Valuation reports before and after:

 

How inventory costs are updated depends on the Inventory Control application parameter setting for "Inventory Costing Method."

  • When set to Standard (S), the parent and all sub-assemblies, including phantom bills are updated.

  • When set to Replacement (R), costs for both parent and phantom bills are updated.

  • When set to Average (A), only phantom bills are updated.

Note: BOM Inventory Costing Update considers a bill a "phantom" if the "Phantom Bill?" checkbox is checked on the Bill of Materials Master Record.

 

=> To access this task..

Select BOM Inventory Costing Update from the Bill of Materials Maintenance menu.

 

BOM Inventory Costing Update

 

About the Fields

 

In the Beginning/Ending Bill of Materials Number field...

  • Enter the first/last bill number that is to be listed.

  • Press [Tab] key to use the first/last bill number on file.

  • Click Find field records to display all valid bill numbers.

In the Effective Date field...

  • Enter the effective date for the bills which you want printed.

  • Click Calendar to select a date using the calendar tool.

  • Press [Tab] key to accept the default of the current date.

The effective date will be used in conjunction with the effective and obsolete dates entered in the bill to select valid items.

 

In the Warehouse ID field...

  • Enter a valid warehouse number for material availability.

  • Click Find field records to select from a list of warehouse codes.

When finished making entries to the fields…

  • Click Run process to process the report

  • Click New/clear form to clear the form and begin again.

  • Click Save current data to save the settings.

Since this update will change your inventory valuation for all assemblies and finished goods, verify that an Inventory Valuation has been run.

 

 

The costs of all components will be updated from the Inventory Master File. The costs of subassemblies are first updated in the Inventory Master File and then retrieved to calculate the cost of the higher assembly. The cost of the higher assembly is then updated in the Inventory Master File.

 

Upon completion of the update process, another Inventory Valuation Report should be run to reflect the new inventory values.

  • Enter [Yes] if the above information is correct and proceed with updating costs.

  • Select [No] to exit from the process.

NOTE: An asterisk (*) next to the component item number indicates a bill number.

 



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