Understanding Journal Entries for Variances

When you create journal entries for variances, the program generates error messages if it finds any general ledger errors while formatting the journal entries. You can review these error messages by reviewing the workflow messages.

You can set a processing option to call the WIP Revaluation program (R30837) and to determine which version of this program the system uses. You use this program to revalue all open actual cost work orders with items that are marked for cost change in the Item Cost table, as well as their parent work orders. After work in process is revalued, the system clears the Cost Changed Flag field in the table. All cost types in the Production Cost table are included in the data selection.

When you run this program in final mode, the system creates a batch of journal entries for posting to the general ledger.