Flya Kite MM

E manufactured goods flya kite mm transactions flya s

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Unformatted text preview: ld unlike raw materials that are bought to become components of finished goods (i.e., manufactured goods) Flya Kite MM Transactions Flya s EXERCISE MM07: CREATE MATERIAL MASTER EXERCISE RECORD FOR FINISHED GOODS* RECORD – Must have a material master record for a material before it can be purchased, managed, tracked, costed, etc. – Creates all the views necessary s s s Basic data – basic data for the material (name, description, unit of measure, etc) Accounting – data to get the vendor paid Controlling – data to transfer the cost of the material for product profitability determination – Notice no Purchasing or General Plant Data Storage views these goods are manufactured, not purchased and are not tracked data storage wise in the same manner as raw materials or trading goods * Finished goods are goods that are manufactured by the company from raw materials (and in some cases, trading goods) Flya Kite MM Transactions Flya s EXERCISE MM08: CREATE PURCHASING INFO EXERCISE RECORDS RECORDS – Creates a linkage between materials to be purchased and a specific vendor from whom they will be acquired – Vendor can be pre-certified and various factors (e.g., price, delivery time, standard quantity, etc.) can be predetermined so that purchasing activity time and cost can be reduced – Only data needed to complete a purchase would be the material(s) needed and their quantities Flya Kite MM Transactions Flya s EXERCISE MM09: CREATE PURCHASING EXERCISE REQUISITION FOR STOCK ITEMS REQUISITION – Purchase requisition is an internal document that notifies the purchasing organization of the need for materials, the quantity involved, delivery date required, and where the materials will be stored when they are delivered – Although not completed in this case, the appropriate approval authority would approve the purchase of these materials and assume responsibility for their costs by approving the requisition Flya Kite MM Transactions Flya s EXERCISE MM10: CREATE PURCHASE ORDER – Using the data from the purchase requisition, purchasing creates the purchase order to be sent to the vendor s The purchase order is a legal offer to buy that commits the company to receive and pay for the materials ordered – Copying the Requisition data eliminates need to again input the specifics of the materials to be purchased – Automatically assigning the source of supply utilizes the Purchasing Info Record to eliminate the need to input vendor data – it is automatically loaded from to the purchase order Flya Kite MM Transactions Flya s EXERCISE MM11: CREATE A GOODS RECEIPT – When the ordered goods are delivered, they must be “received” not only physically but the data related to that receipt must be entered into the system – Referencing the purchase order number brings in the pertinent data related to the materials that were ordered and are being delivered – The system can be set to automatically propose the receipt quantities as the quantities that were ordered s This can be changed if receipt quantities differ from ordered quantities Flya Kite MM Transactions Flya s EXERCISE MM12: CREATE AN INVOICE EXERCISE RECEIPT RECEIPT – Vendors want to be paid for materials they have sent to the company so they send and invoice asking for that payment – The invoice must be “received” by inputting the various data elements from the invoice into the system – The invoice receipt must link to the appropriate purchase order so that the “three way match” can be accomplished Purchase Order = Goods Received = Invoice – The actual payment of the invoice occurs in the FI module at some time after the invoice verification occurs in MM...
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This document was uploaded on 02/06/2014.

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