Accpac does not use true standard costing. At PO receipt entry, the cost is amended to actual cost.
This entry should be allocated to Purchase Variance account and leave the IC cost at standard cost.
Example. Std Cost = $200, actual cost of invoice = $180. Accpac allocates the $20 to IC Cost, thereby making the IC Cost = $180 (now actual). True Standard costing allocates the $20 to Purchase Variance (needs to be added to IC Account sets)
by: Ian B. | over a year ago | Operations Management
Comments
I Completely agree Accpac should calculate the purchase variance upon invoice and inventory should always be stated at standard cost even in GL. Currently this is most wanted feature with one of my customer.
I find the way accpac does this extremely annoying and painful.
I agree that this is essential functions in PO module. Currently Accpac calculate cost variance at Shipment Entry.
This has been backwards for the last 15+ years. I agree this needs to be updated to industry standard practices.
I just spent 3 days configuring processes to solve a new business issue we have on the assumption that Accpac std costing worked properly. I then went to use it and find out it doesn't work how standard costing should. Totally wasted my time. They should not advertise that Accpac has standard costing, as as far as i ma concerned it doesn't.