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Infor LX Tips, Infor LN Tips, BPCS Tips, Baan Tips, Infor M3 Tips & Infor ERP News

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Infor LX | Infor LN | BPCS | Baan | Infor M3

Anthony Etzel
/ Categories: Infor LX & BPCS Tips

BPCS/LX Tip of the Week: Actual Costs for Manufactured Items

In LX, the actual costs that can be set up fall into three categories: Material, Labor, and Overhead. If your LX database is set up properly with the LX cost accounting, you should be able to identify:

  • How much the item should cost
  • How to track the cost of work underway
  • How much the item actually did cost
  • Why the job cost varied from the expected cost
     

Capturing the data to track activity with associated costs can be time-consuming. With an MES solution, the information you need for costing is tracked instantly.

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Anthony Etzel

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Tips:  LX | BPCS | M3

Users can now freeze period-end balances at the end of a fiscal period. You can now store the opening/ending on hand balance for each Inventory period at the Item (IIM), Warehouse/Item (IWI) and Lot/Location (ILI) levels. This information can then be used for inventory tracking and valuation purposes, as well as other ad hoc financial and audit reporting requirements. Infor LX clients can backdate inventory transactions into the immediate previously closed period, and thus update what was saved as the opening/ending balance throughout the current open period.

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Tips: LN | Baan

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