A common recommendation I have for clients is that they should review the closed work orders on the WIP valuation reports before they perform the WIP finalization. This is an important step to ensure proper costing before the work order is "locked down". A common request that I get (usually from clients who process a large number of work orders on a daily basis) is that they would like to only look at those work orders whose variance between total standard cost and total actual cost is greater than a certain % (i.e. manage the problem on an exception basis as opposed to having to review each and every one).

by: Kevin C. | over a year ago | Reporting / BI