Transfer job costs with actual costs?

The system is prompting for you to decide whether to update actual cost to Job Cost files through Job Requisition Entry or using standard cost. If this checkbox is selected, then actual cost, plus any mark-up, will be charged to jobs when requisitions are updated. "Actual cost" will be determined based on the costing method designated for the category of the particular item (FIFO, LIFO or Average Cost). If this check box is blank, then current standard cost, plus any mark-up, will be updated to Job Cost module. The system will determine costing method at the time of update, based on the current entry in this field; this field may be revised at any time if a different method of transferring cost is desired. The 'use tax', if any, will always be based on the actual cost, regardless of entry in this field.

Validate item location?

Select this checkbox if you want to require that the location of the item specified in the Item Detail File Maintenance screen is equal to a valid location in the location file. If this checkbox is selected, the software will confirm that the item location is in Item Location File Maintenance.

If this checkbox is left clear, then the software won't confirm that the item location is in Item Location File Maintenance.

Multi-company requisitions?

Select this checkbox to have the option to enter job requisitions for jobs in another company on the Spectrum system. The company id will display on the Job Requisition Entry screen header, and may be changed to another company id. This will expense those requisition lines to the company indicated; when updated, the software will post those expenses to the corresponding General Ledger and Job Cost for the company indicated. The corresponding credit will be posted where you have indicated in the Inter-company G/L accountcode field found on the G/L Codes tab. Selecting this checkbox will also allow multi-company requisitions to be created from the Materials Management and Equipment Tracking modules.

If this checkbox is left clear, requisitions cannot be entered for jobs in another company on the Spectrum system.

Post requisition to General Ledger as internal job sale?

Select this checkbox to control how the Inventory Transaction Update will post job requisitions to G/L. This affects how Spectrum posts to G/L from all entities in the current company.

One warehouse?

Select this checkbox if you have only one warehouse and want the software to skip past the warehouse code prompt throughout Spectrum.

If this checkbox is left clear, the software will prompt the operator for the warehouse code when applicable. This prompt may be changed at any time if, for example, the company adds a second warehouse to the operations.

Default warehouse

Enter the code of the default principal warehouse, or double-click in this field to search for warehouse codes already entered in the software. Even if there is just one warehouse in this company, it is necessary to designate this code here and in Warehouse File Maintenance. Typically, this code is defined as warehouse 1, but the code may be alphabetic or numeric, as desired.

This warehouse code will appear throughout Spectrum, wherever a warehouse code is required during entry. This installation setting can be changed at any time if, for example, the company reorganizes warehouse operations and selects a new warehouse for default purposes. Warehouse codes may be up to 10 characters long.

Next transaction sequence number

Enter the next inventory transaction sequence number the software should assign during inventory transaction processing data entry. Spectrum features auto-count transaction numbers for ease of entry. Otherwise, the operator may specify a desired transaction sequence number when adding receipts, returns, transfers and adjustments. We recommend that this number be initialized at a meaningful point for the company. For example, you might choose "01006" for the first transaction in 2006, or simply "100" if it's easier. If you are already utilizing the Inventory Control module, the most recently used transaction sequence number will display, and can be changed as needed. This number is updated automatically as part of inventory transaction processing, and will be offered as the next highest number as a default the next time you enter transactions.

Next requisition sequence number

Enter the next inventory requisition sequence number the software should assign during Job Requisition Entry. Spectrum features auto-count job requisition numbers for ease of entry. We recommend that this number be initialized at a meaningful point for the company. For example, you might choose "01006" for the first transaction in 2006, or simply "100" if it's easier.

If you are already utilizing the Inventory Control module, the most recently used requisition sequence number displays and can be changed as needed. This number is updated automatically as part of requisition processing, and will be offered as the next highest number as a default the next time you enter requisitions.

Default costing method

Select one of the following option buttons, depending on the default costing method you want to use in your Inventory Control module:

• FIFO (first in first out) - removes from inventory the oldest stock on hand first

• LIFO (last in first out) - relieves the most recently received stock on hand first

• Average Cost - provides a continuously updated average value of stock on hand

• Standard cost

The option you select will serve as a default when future categories are added. Any entry in this field will have no effect on existing category costing methods; desired changes to existing costing methods must be done in Category File Maintenance.

You can utilize different costing methods category by category, but as a practical matter, most companies select a single method. Consult your accountant for further inventory costing information.

Update standard cost

Select one of the following option buttons, depending on whether you want the software to update the standard cost figure in Inventory Item File Maintenance based on entries during inventory receipts processing:

• Yes. When the unit item is received, the unit cost of the item will be recorded as the new standard cost in Inventory Item File Maintenance. If entering inventory receipts directly in Inventory Control, this option will always update standard cost for inventory receipts.

• No. When the unit item is received, there will be no change made to the standard cost figure in Inventory Item File Maintenance as a result of receipts activity. Additionally, you may want to select this option to update standard cost when packing lists are updated to Inventory Control as part of two-step purchase order processing. If entering inventory receipts directly in Inventory Control, this option will never update.

• Update inventory receipts only. When the item is received, the standard cost will only be updated from Inventory Receipts Entry when the unit cost of the item received is lower than the current standard cost in Inventory Item File Maintenance. The standard cost is set when inventory receipts are updated using Inventory Transaction Update. If entering inventory receipts directly in Inventory Control, this setting will only update if the new received unit cost is lower than the current standard cost.

  Note: This option will not be applicable for items configured to use the Standard cost costing method.

Quantity price break

Select one of the following option buttons, depending on the default quantity price break you want to use throughout the Inventory Control module.

• List price - select this option if the price quantity breaks should be based on the list price of items

• Sell price - select this option if the quantity breaks should be based on the sell price of items