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AV-12 Customer Case Study – Creating Period-end Reports (IC and AP)

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AV-12 Customer Case Study – Creating Period-end Reports (IC and AP). Dave Wiedenfeld Group Project Leader , IT CF Industries, Inc. Real-time System!. Period End. Inventory Transaction. Inventory Transaction. Inventory Transaction. Inventory Transaction. Inventory Transaction.

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av 12 customer case study creating period end reports ic and ap

AV-12Customer Case Study – Creating Period-end Reports (IC and AP)

Dave Wiedenfeld

Group Project Leader, IT

CF Industries, Inc.

real time system
Real-time System!

Period End

Inventory Transaction

Inventory Transaction

Inventory Transaction

Inventory Transaction

Inventory Transaction

Inventory Transaction

While having a real-time system is great from an operational perspective,

it can be challenging to generate period-end reports suitable for accounting.

the concept
The Concept

Period End

To get a period-end report, transactions used by the report

need to be ‘rolled back’ to the end of the period.

inventory what to roll back
Inventory – What to roll back

To back out transactions

not wanted, it must first be

understood how transactions

are created and dated

valuation gotcha
Valuation “Gotcha”

Any Script will need to accommodate for the fact that the MTP

may NOT have generated the corresponding G/L entries yet

universal time
Universal Time

When Specifying a Period End Date/Time,

it must be converted to Greenwich Mean Time.

step 1 determine current value
Step 1: Determine Current Value

Total Value for all Inventory Classifications by Item, Storeroom,

and Current G/L Account for that Storeroom and Timestamp effective Date/Time of valuation with current universal date/time.

step 2 determine ratio of which storeroom to credit with receipt reversals from invoices
Step 2: Determine Ratio of which storeroom to credit with Receipt Reversals from Invoices

Invoice Expense Transactions do not include storeroom designations, but storerooms can be derived from the receipt reversal side of the transaction.

step 3 establish effective date desired and create temp table to store transactions to back out
Step 3: Establish Effective Date Desired and create temp table to store transactions to “back out”

The Effective Date/Time should include a Time at the end of the Day.

step 4 add invoice expenses in range to back out transaction table
Step 4: Add Invoice Expenses ‘In Range’ to back out transaction table
  • The Effective Date is Adjusted for Universal Time
  • Expense is prorated to Storerooms from previous step
  • If G/L Transactions are not created yet, the Item Storeroom G/L Account is used
  • Date of transaction is based on when the invoice was posted
  • Only Posted transactions for Inventory Items are included
step 5 add receipt reversals in range to back out transaction table
Step 5: Add Receipt Reversals ‘In Range’ to back out transaction table
  • The Effective Date is Adjusted for Universal Time
  • If G/L Transactions are not created yet, the Item Storeroom G/L Account is used
  • Date of transaction is based on when the invoice was posted
  • Only Posted transactions for Inventory Items are included
step 6 add invoice adjustments in range to back out transaction table
Step 6: Add Invoice Adjustments ‘In Range’ to back out transaction table
  • The Effective Date is Adjusted for Universal Time
  • If G/L Transactions are not created yet, the Item Storeroom G/L Account is used
  • Date of transaction is based on when the invoice was posted
  • Only Posted transactions for Inventory Items are included
  • If two Inv. transactions are created for each adjustment, only the first is used
step 7 add receipts in range to back out transaction table
Step 7: Add Receipts ‘In Range’ to back out transaction table
  • The Effective Date is Adjusted for Universal Time
  • If G/L Transactions are not created yet, the Item Storeroom G/L Account is used
  • Date of transaction is based on when the receipt transpired
  • Only Posted transactions for Inventory Items are included
slide28
Step 9: Summarize Back out Transactions into the Net Change to Qty and Value by Item, Storeroom, and Account
  • Values of the back out transactions are reversed and added to current value
  • Result is summarized by column desired to get prior period value
  • This process will show previous value for Accounts, Storerooms, and Items
rni same type of back out process
RNI – Same Type of Back out Process

Only Three Transaction Types affect RNI

step 1 establish effective date desired
Step 1: Establish Effective Date Desired

The Effective Date/Time should include a Time at the end of the Day

step 2 total rni value by po delivery
Step 2: Total RNI Value by PO Delivery
  • Only include receipts/reversals that were posted prior to AS OF date
  • If Invoice not joined, Value is totaled in Received Column
  • If Invoice is joined, Value is totaled in Invoiced Column
  • Open Amt is total of all RNI activity for PO delivery (prior to AS OF)