Would like to be able to update standard cost in inventory maintenance in Ver 4.4
by: Dennis D. | over a year ago | Manufacturing
Votes
62
Please return the ability to change standard costs at any time
by: Dennis D. | over a year ago | Manufacturing
Comments
PLEASE DO SO. Why did MAS90 on the upgrade did they discontinue this option. We were not informed that this was no longer an option and it is seriously crippling our business. FIFO is an accounting convention, not a true costing method. Standard Cost is the only true costing method.
PLEASE, DO SO. This is seriously crippling our business. Why, when it was available before, discontinue it?
This is also under another title called '30
VotedPlease return the ability to change standard costs at any time' that has 30 plus votes so please find it and vote for it too.
FIFO actually IS a very widely-used valuation (costing) method for inventory, as is LIFO, Average and Standard. I'm not sure I understand the relevance of FIFO to your standard cost changing issue anyway, but if Standard Cost is properly used as a costing method, there should be very few changes needed to your Standards, and it should be few enough that the changes can be implemented in a controlled fashion, thus the utility they included in 4.4 is sufficient. Having users changing standards "at will" wreaks absolute havoc on anyone trying to balance inventory, track and explain variances, etc.
Proper use of Standard Cost as a costing method entails setting a proper standard based on historical usage and costs, as well as projected/known future changes. You "lock in" the standards for a year and manage the variances, changing the standard only if/when a major mistake is discovered or a large, unforeseen change in cost occurs.
If your standards are changing so frequently that not being able to change them "on demand" in MAS is crippling your business, I would highly recommend you speak to your MAS reseller and your CPA about changing your costing method to something that makes sense for your company. Frequently changing standards means you are not actually using Standard Cost as a costing method. You are using actual cost and just changing your standards to get there (i.e. you are approximating FIFO, LIFO, Lot/Serial).
Manufacturers in particular have been plagued by the inability to control changes to the standard cost for years in MAS. This is a critical function that has been missing from the software for way too long. Now, the GL actually stays in balance with the inventory detail and variance postings represent actual cost variances and not just changes some user made! It's a wonderful thing.
Changing standards is not the issue. Changing prices to reflect real cost is. Even is FIFO is widely USED, it doesn't make any sense to our business and really doesn't make a whole lot of sense to many businesses. How would the Oil companies deal with FIFO? Oil companies would have no flexibility to deal with crises in supply. MAS90 should not force us run our business their way. It should provide the options so we can be flexible in a changing world. We have been using MAS90 for over ten years, the old version met our needs, this upgrade restricts us severely. BRING BACK STANDARD COST!
SAGE ARE YOU CRAZY!!! WE NEED THIS TO WORK AT ANYTIME!!!
It is possible to import into the change utility. The users can put the data into a spread sheet and update all at once.
CI_StandardCostAdjustSelection. It's really simple to set up. There are only two fields. After the import run the register to update the costs to GL.
The change in proceedure for updating standard costs was needed to prevent out of balance issues between GL valuations and actual Inventory. It is detailed really nicely in the forums in this post.
http://sagemas.lithium.com/t5/Distribution-Manufacturing-and/How-To-Change-Standard-Cost/td-p/42124
We recently updated our Mas90 from 4.2 to 4.5 and the ability to change standard cost in Inventory Maintenance has proved to be a major setback. While the utility is a very nice feature the fact that everyone has to be out of the system to update does not make sense. We have 24 employees, how unproductive does my company become when I tell everyone stop what your doing exit Mas90 so updates to cost can occur. Please Mas 90 bring back the ability to update standard cost in Inventory Maintenance, allow a security feature in Role Maintenance to disallow cost changes but do not completely take this option away. This is the most frustrating option.
Actually, a simple solution that would aid most (Not all) users with issues, but still restrict changes to occur when all other inventory tasks are closed would be to open up the Standard Cost Adjustment Entry task to occur while other users are still in the system, but restrict the updates to when everyone is out. There really should be no reason to restrict Entry.
This way the routine users can make changes throughout the day, with a supervisor or IT department making the updates after hours when everyone is out... or, gasp, schedule the update.
For some larger businesses with Tax or Bank auditing or corporation controls, changing the entire costing method of the business just to be able to reflect changes in cost to components you buy, is just not a practical answer.
this is also located in two different spots...
Please return the ability to change standard costs at any time.
https://www11.v1ideas.com/SageERP/mas90and200/Idea/Detail/1046
Price/Cost Changes
https://www11.v1ideas.com/SageERP/mas90and200/Idea/Detail/2203
so the vote count should be higher.
and
https://www11.v1ideas.com/SageERP/mas90and200/Idea/Detail/2869
Agreed to all. I understand the ned for contolled change and tracking, but having the entry locked down wie files are in use makes it IMPOSSIBLE to implement changes! Not all customers will be easily able to import and the entry should be open when CI_Item is in use.
Changes to standard cost need to be done in a controlled manner, but I too don't understand why the Standard Cost Adjustment entry needs to be locked down while people are working in the system.
please bring this back!!! We should be allowed to update standard cost form the item maintenance screen. Some of the items allow it and some do not. This doesn't make sense.