WIP account and items open at the end of the month

I've been digging to find what is causing a large number sitting in my WIP Reconciliation report. It's our first months in Production Management so there were a few "mistakes" made in the course of the month. Numbers point to a few work orders that were completed but not closed at the end of the month.

When I run my WIP Reconciliation Report for August the number is high - When I run it for September it is back down to normal. Does this mean that it will balance out when I close august and start working on September numbers? Will an adjustment for August mean a reverse adjustment for September?

Thank you!!

  • 0

    The following is from the Sage Knowledgebase on How to reconcile Production Management WIP Report to the G/L WIP account:

    Reports used to reconcile PM to GL: WIP Reconciliation Report, Daily Materials Usage Log (Dynamic Inventory posting to G/L), Labor Register (Labor Transaction journal - date based)

    The WIP Reconciliation report is like a trial balance report from other Sage 100 modules. This report can be used to balance the Work in Process account(s) in the General Ledger to the detailed transactions in Production Management.

    For the balancing of this report to General Ledger to be accurate, make sure the Daily Material Usage Register and Daily Labor Register have been updated. If those registers are updated with an Accounting Date other than when the transactions were dated, this will cause an out of balance situation between the General Ledger and Production Management.

    **NOTE: version 2019-2021 file names begin with JT_ and version 2022 and higher file names begin with PM_

    1. The PM Work in Process G/L Account is set in Work Ticket Class Maintenance / Accounting tab
    2. PM / Reports / Work Ticket WIP Reconciliation Report for a specific Work Ticket Class or all Work Ticket Classes if they all post to the same WIP G/L account
    3. WIP Reconciliation Report - Total WIP minus Parent Cost Recognized for Completions (PC records in JT_TransactionHistory.m4t) = Total WIP remaining. Total WIP on this report should match the balance of the associated WIP G/L account.
    4. G/L Account Inquiry History tab to see if ending balance matches the WIP Reconciliation Report for the given period
    5. G/L Account Inquiry Transactions tab lists the Work Tickets on the transactions and matches history tab
    6. When Completion transactions are updated, WIP is relieved and PC transactions - Parent Cost Recognized - are created.
    7. Transactions Posting Remark shows the Work Ticket that the posting was associated with.
    8. DFDM JT_TransactionHistory, select transactions associated with the Work Ticket - PC Record type (Parent Cost Recognized), IM Record type (Material issue), LD Record Type (Labor Distribution)

  • 0 in reply to ksmcwhir

    This is helpful. Thank you for taking the time, much appreciated!

  • 0

    If the answer provided has resolved your issue, please mark the answer as Verified.  Thank you so much!