Period Management

A period determines the calculation scenario. The main data are the start/end date, which determine the range of entries to be considered for the valuation and the item cost setup, which defines the calculation criteria.

It is important to emphasize that it is possible to define periods with overlapping date ranges, in order to perform calculations with different setups in parallel. On the periods, particular attention must be paid to the Fiscal flag, which identifies the periods used for fiscal inventory valuations.

For the proper functioning of the feature the periods marked as fiscal must have a correct temporal sequence. So they must follow the trend of the fiscal years.

To open the page:

  1. In Search type Period Management, then click on the related link.

Below you can find the list of fields:

  • Period Code: specifies the period code
  • Description: it is automatically enhanced after entering dates
  • Target Period: it is used to identify the period to be updated when you use the Copy Standard Cost to FCC function from the Standard Cost Wrksheet
  • Starting Date: specifies the starting date of the period
  • Ending Date: specifies the ending date of the period
  • Fiscal Period: specifies the fiscal year that is taken into account for the calculation of the weighted average cost (all year)
  • Definitive: specifies whether the fiscal inventory valutation in the reference year is closed
  • Item Costing Setup Code: specifies the setup touse
  • Calculate Specific Cost: specifies whether processing should calculate specific costs (such as costs per lot)
  • Calculate WIP: specifies whether processing should calculate WIP costs
  • Force Specific Cost Calculate: specifies whether processing should force the recalculation of speciic costs
  • Item Filter: specifies the value of the Item Filter field.
  • Location Filter: specifies the value of the Location Filter field.

Execute from the Period Management page the following procedures:

  1. Archive Period Data: this action copies the data necessary for the calculation (items, bills of materials, routings, production areas, work centers) into the FCC environment.

  2. Calculate Actual Data: this action calculates the period data. The data are always calculated at an Item level(item cost history, consumption, routings). If it is set in the setup, the data are calculated by variant, lot or No. Series.

  3. LIFO Categ. Data Calculation: this optional action must be run only if the period is aimed at the LIFO step by step calculation for LIFO category

After the calculation, the data calculated in the history menus are available for consultation. Consequently, the various costs per item are available (average, weighted average, continuous FIFO, continuous LIFO, last).

Optionally, after the calculation, it is possible to update data on the standard environment, with the dedicated procedures:

  1. Update Item Costs: allows you to update the standard cost and/or the unit cost on the item master data starting from the period data.
  2. Update Item Entries: allows you to update the actual cost of item ledger entries starting from the period data.
  3. Update Capacity Entries: allows you to update the actual cost of capacity ledger entries starting from the period data.