Finished goods can be created from a job in Jiwa when the costs accumulated against the job need to be transferred into inventory as a stock item.
This process may be used where a job produces an item that will be held in stock, sold later, or used in another process. Instead of invoicing the job costs directly to a customer, the relevant job costs are allocated to the finished good and returned to stock.
This article explains how to create finished goods from a job in Jiwa Job Costing. Producing finished goods updates the job transaction details, moves the selected costs out of work in progress, and updates the inventory value of the finished stock item.
Before creating finished goods, the job should already contain the relevant costs and the finished stock item should be set up in inventory.
Creating Finished Goods
When finished goods are created from the Job Costing module the finished product is put into stock on hand.
Finished goods can be created from the menu by selecting Job Costing | Transactions | Produce Finished Goods
The Product Finished Goods form can also be opened from the Transaction tab on a job by using the transaction type of Finished Goods and then clicking on Create Transaction
When opening the form from the job you will notice that the Job Number field is automatically populated.
Add a reference to your batch in the Reference field
In the Details tab select the item that you are going to produce
In the Qty field enter in the number of units to be produced
To allocate costs to the item click on the lookup icon next to the Unit Cost field
The Job Costing - Cost Allocation form is opened which is the same form that is used to allocate costs and charges to an invoice.
Allocate your costs to the finished item by;
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Cost Centre,
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Individual transaction, or
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Using Auto Allocation
When you have completed allocating your costs select OK
The Unit Cost and Total Cost fields are updated with the allocated costs
Save your updates
Repeat this process for each item produced
When you have finalised your batch from the menu ribbon select Activate to update your job and the stock ledger
Your job is now updated with the goods produced
And the Stock ledger is updated with the finished products
Video walkthrough