Use this screen to establish project inventory accounts and organizations to be used as defaults when setting up new inventory projects. Accounts and their assigned account types, as well as organizations and org abbreviations, are established in Costpoint General Ledger. Account and organization information must be valid and active.
Set up this screen when Costpoint is initialized, before setting up inventory projects, and maintain it whenever you need to modify default accounts.
This screen has four tabs:
Average Actual Default Accounts - Use this tab to display the default or edit the account/organization information to be used when average costing method is used.
Average Actual Default Variance Accounts - Breakdown - Use this tab to display the default or edit the breakdown account/organization information, to be used when average costing method is used, and Inventory Settings/WIP Variance by Cost Elements (for Average Actual Costing) is selected. If Inventory Settings/WIP Variance by Cost Elements (for Average Actual Costing) is not selected, the fields on this tab are cleared and greyed out. Separate account/org combinations can be specified for Asset and Project WIP Asset Variances.
Standard Cost Default Accounts - Use this tab to display the default or edit the account/organization information to be used when standard costing method is used. Separate default account/org combinations can be specified for Asset, Project WIP Asset, and Expense inventory abbreviations. Separate default account/org combinations can be specified for Asset and Project WIP Asset Variances.
Standard Cost Default Variance Accounts - Use this tab to display the default or edit the account/organization information. to be used when standard costing method is used. Separate account/org combinations can be specified for Asset and Project WIP Asset Variances.