Updating Standard Costing for new Raw Material Standard Costs
When updating to new Material Standard in a Standard Costing environment, the general process we have been given is as follows:
1) Perform a physical inventory, adjusting all quantities to zero.
2) Perform costing utilities and post the manufacturing journals.
3) Upload new raw material standards (via a utility) to the part master.
4) Update shop resource rates.
5) Reset material requirements to engineering master.
6) Reset operation costs.
7) Implode costs.
8) Recover the original physical inventory quantities and reload the quantities and associated trace data (via a utility).
9) Perform costing utilities and post the manufacturing journals.
We are on version 6.5.4 and the downside to the process is the time required to run it can be an entire weekend with the system off limits to other users.
We have updated some material’s standard cost in the part master manually without taking the material quantities to zero. After that we have reset the material costs and imploded the costs for all parts. The part costing seems to roll correctly through the component parts and to finished goods parts.
The only difference that I can determine at this time, is that we receive no entry through the costing utilities and manufacturing journals when we run them again.
My question is, can anyone confirm this finding? Are there other issues that I am ignoring?
