You use this program to value the outstanding work in progress for each job over the last three months.
This value is calculated by subtracting the value of any part billings or part bookings made from the accumulated material and labor costs to date.
| Field | Description | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Valuation as of | |||||||||||
| Current month | Generate the report based on the cumulative value of outstanding work in progress as at the current month. | ||||||||||
| Previous month 1 | Generate the report based on the cumulative value of outstanding work in progress as at the previous month. | ||||||||||
| Previous month 2 | Generate the report based on the cumulative value of outstanding work in progress as at two months ago. | ||||||||||
| Sequence | Choose the sequence the report is to be printed
in.
|
||||||||||
| Include | |||||||||||
| Sub jobs under master jobs |
Print details for jobs occurring at all levels within a job structure. If you select this option, then totals are not printed for Costs to Date and Booked out of WIP. The reason is that the cost printed for the sub jobs are included in the master job (i.e. the total material and labor costs for a sub job are a material cost for the parent, because the sub job is a material allocation for the parent). The totals in these columns would include the values of the sub jobs twice, making them nonsensical. You cannot select this option if you are printing the report in Job Classification or Ledger control account sequence. |
||||||||||
| WIP value equal to zero | Print details of jobs where the work in progress value is zero. | ||||||||||
| Jobs on hold | Choose to include or exclude values for jobs on hold,
or to only print a WIP valuation for jobs that are on hold and
which are not sub jobs.
|
||||||||||
| Completed jobs |
|
||||||||||
| Unconfirmed jobs |
|
||||||||||
| Values by | |||||||||||
| Notional part |
Select this to print the work in progress values for each notional part. These are the total work in progress values of materials and labor for the notional part. |
||||||||||
| Co-product |
Select this to list each co-product together with its work in progress values. The work in progress values for the co-products are apportioned according to the cost apportionment percentages defined against them (BOM Co-Product Maintenance). |
||||||||||
| Selections |
You can filter the report using these selection criteria. |
||||||||||
| Job selection | Indicate the job(s) for which to generate the report. | ||||||||||
| Job classification selection | Indicate the job class(es) for which to include jobs in the report. | ||||||||||
| Ledger code selection | Indicate the work in progress control account(s) for which to include jobs in the report. If you select a single ledger account, then only jobs for that control account are included in the report. | ||||||||||
| Planned delivery date selection | Indicate the planned delivery date(s) for which to include jobs in the report. |
These options enable you to apply a theme to the report and to define multiple output destinations for the report once it has been compiled (SRS Output Options).
The Cost to Date values for each job are the costs of labor and materials that have been issued to work in progress. These values are therefore updated each time labor is posted to the job or materials are allocated to the job. These values are also displayed under WIP values in the Job Details pane of the WIP Query program.
The Booked out of WIP values are the costs of jobs receipted into stock. The receipt costs are calculated according to the cost basis used when receipting each job (see Job Receipts).
_TMP jobs are created in the Job Entry and Quotation Job Loading programs.
The Job Entry program creates a temporary job until the trial load is run, after which it copies the TMP job to the actual job and deletes the TMP job.
The Quotation Job Loading is the program that creates jobs for non-stocked made in items through quotations. It initially writes these out as temporary jobs and once all is confirmed, creates the actual jobs.
If the system crashes during these processes, then _TMP jobs can be left behind in the system. These are deleted when you run the WIP Period EndPurge function.
If you selected the option: Include - Sub jobs under master jobs, then totals are not printed for Costs to Date and Booked out of WIP. The reason is that the cost printed for the sub jobs are included in the master job (i.e. the total material and labor costs for a sub job are a material cost for the parent, because the sub job is a material allocation for the parent). If totalled, the totals in these columns would include the values of the sub jobs twice, which would make no sense.
On the report, the <mast> field indicates that the job is a master job; the <sub> field indicates that the job is a sub job; and the <int> field indicates an interim job (i.e. a sub job to which is attached other sub jobs).
If you selected Include - Sub jobs under master jobs, then your selections are applied to the master jobs only and not the sub jobs.
For example: you selected to exclude completed jobs and not to include jobs where the WIP value is equal to zero. Jobs with completed sub-jobs and with zero value sub jobs will be included in the report if the master job is not complete and/or the master job does not have a zero WIP value.
Refer to WIP costing with Sub Jobs and Master Jobs for an example of cost calculations for sub and master jobs.
Subcontract unit values are accumulated as a material cost against the Parent, when the Subcontract operation and material costs option is not enabled (Bill of Materials Setup).