LIFO/FIFO -- Anybody using this

[dgillz]

I just had a client inquire about this. I have never once in 10 years of being a Macola consultant ever had a customer or heard of a Macola user that was on LIFO or FIFO.

Has anyone got an experience with this they would like to share? End users or VARs?

Insights appreciated.

Software Sales, Training, Implementation and Support for Macola, eSynergy, and Crystal Reports

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"A fine is a tax for doing wrong. A tax is a fine for doing well.
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[NEmacGuy]

I had a client that ran on fifo, my best advise is review the limitations. This will also limmit any add-on applications.
Basically it adds an additional file that tracks on-hand quantities much like bins or lots but instead lifo or fifo layers.



Warnings from IM control File :

Important: The BOM, POP, MCA, SFC, L/P, SPR, and S/C packages do not support LIFO or FIFO costing methods. These packages are designed for Average, Last, or Standard costing. If you have installed any of these packages, and you select LIFO or FIFO as your costing method, your item
cost calculations will be incorrect.

Also, Macola does not support serial/lot or multi-bin processing in a LIFO/FIFO environment.

 

[NEmacGuy]

By the way they switched to average, but the package did work correctly under fifo, they were looking to grown further than standard accounting and distribution in Macola.

 

[canimp]

LIFO is illegal in some places and IAS frowns upon the use. I know it is an unacceptable (not allowed) cost accounting method Canada and some European countries

 

[dgillz]

And IAS means what exactly?

Software Sales, Training, Implementation and Support for Macola, eSynergy, and Crystal Reports

http://www.gainfocus.biz

"A fine is a tax for doing wrong. A tax is a fine for doing well.
" - unknown

 

[NEmacGuy]

International accounting standards board. There has been recent talk that US Senate \ Congress were going to pass law killing LIFO, but not likely to happen, to many big interests using LIFO.

 

[dgillz]

Whatever happened to FASB? Is IAS the evolution of FASB? Or was FASB a USA thing?

Software Sales, Training, Implementation and Support for Macola, eSynergy, and Crystal Reports

http://www.gainfocus.biz

"A fine is a tax for doing wrong. A tax is a fine for doing well.
" - unknown

 

[NEmacGuy]

FASB = US