This screen provides information on transactions that have not yet been updated: job requisitions, receipts, credit returns, transfers, adjustments, sales, usage, and/or items on order.

The reports should be reviewed for accuracy, and if correct, saved as permanent records of the company. Additional transactions should not be entered while these reports are printing and updating.

Quantities posted into the Job Cost balance file will also be posted into the Job Cost quantity history file. This file is then used for the Job Productivity Report and Job Unit Cost Report to calculate the week-to-date quantity figures. The corresponding inquiry screens also include these quantities.

When the quantity detail is updated in the Inventory Item Warehouse Detail File during the Transaction Update, the software combines the quantity for the transaction being updated with the existing quantity bucket if the 'last-in' cost exactly matches. Likewise, if a transaction includes a negative entry (such as a return from job), the quantity buckets will be combined if the 'last-in' cost is the same as the return. Otherwise, in both cases, a new negative quantity-on-hand bucket is recorded at the applicable cost basis. The Inventory Transaction reflects estimated costs of the Inventory Warehouse while generating G/L transactions and posting to Job Cost and Equipment Control.

• If the Post to job cost history in detail checkbox is selected in the J/C Cost Type File Maintenance screen, the job cost history records will be updated with one history record per requisition transaction line. For example, if a requisition contained multiple lines for the same item on the same job, phase, and cost type, each requisition transaction line will be separated out in history rather than being summarized into one history record. If the cost type being posted is not set for detail posting, then one history record will be created per item on the requisition per job, phase and cost type. Additionally, the software checks the source and destination company's inter-company accounts to see that the G/L account code Direct cost option is set to No direct cost in G/L Master File Maintenance.

• If the Post requisition to General Ledger as internal job sale? checkbox is selected in Inventory Control Installation, do not make the Job Markup a credit entry. Instead, read the columns in G/L Inventory Department table for the assigned G/L account codes. The Cost of Goods Sold will be a debit entry, and Job Sales will be a credit entry.

• If the G/L account is set to 'Direct equipment cost', the Equipment code and Cost category code will be updated from the invoice distribution line.

  Important: These reports should be retained as a permanent audit record of the company. After the report has printed, the update will adjust quantities on-hand and on-order, and will create records in the inventory history file. This update will also prepare entries for the General Ledger; the debit and credit entries will be included on the next Inventory G/L Summary Report that is printed. The Job Cost and Time + Material files will also be updated. When multi-company job requisitions are updated to Job Cost history, both the item description and company code is stored in the Job Cost history file. This provides additional detail information for multi-company operations when using Job Cost reports and inquiry screens.
  Note: Regarding Sub Jobs — If this is a sub-job billed from a master job, the software will read for job-specific setup rates for the master job, and if none are found use standard settings. If this is a sub-job billed at the sub-job level, the software will read for job-specific setup rates for the sub-job first, and if billing rates are not found then the master job, and if none are found there use standard settings.
  Note: Regarding Standard Cost costing method — During this update, if the item is configured to use the 'Standard Cost' costing method and there is no quantity on hand in the warehouse and the warehouse-specific standard cost is blank, then the unit cost will be written to the Warehouse standard cost column of the Item Warehouse Table.

• For receipt transactions, store the quantity and current 'Standard cost' of the receipt for the item in the Warehouse Quantity Table. If there is no quantity on hand, assign the warehouse-specific 'Standard cost' and otherwise, store the standard cost from the Item Master Table.

• For transfer transactions, instead of storing the same cost that came out of the 'From warehouse,' assign the standard cost of the 'To warehouse.'

• For mix transactions, the quantity of the mix item (finished product) will be added to the warehouse at the warehouse-specific 'Standard cost' of that item (not the sum of the components).

• For cost adjustment transactions, after figuring the new unit cost of the cost adjustment, set the warehouse-specific 'Standard cost' to the same unit cost stored in the Warehouse Quantity Table.

• For adjustment transactions, when the quantity on-hand goes negative Spectrum will look for the warehouse-specific 'Standard cost' instead of from Item Main Properties during the update. If blank at the warehouse level, spectrum will read for the standard cost in Item Main Properties.

  Note: Regarding Inventory Transfers and G/L Codes — Inventory transfers do not update the General Ledger because the inventory item is not changing value, it is simply moving from one warehouse to another. In the Materials Management module you can have scale tickets that are transfers, and this G/L account is used on the freight cost update as the location for freight charges related to the transfer.