Common Elements Used to Set Up Actual and Average Costing for Makeable Items

Field or Control	Description
Actual Total Cost	The sum of the total costs of all inputs to manufacture a set of outputs on a production ID or production schedule.
Actual Unit Cost	The actual total cost apportioned to the cost percentages of the outputs and then divided by each output's quantity for the production ID or production schedule.
Average Cost	The actual unit cost of each output is added to inventory once the completed end items are put away. If the end item uses an average cost profile, that actual unit cost is used to recompute the new average cost per unit for the quantity on hand (finished or semifinished goods): {[(actual unit cost of this putaway) * (quantity putaway)] + [(average cost before this putaway) * (quantity on hand before this putaway)]} / (total quantity on hand after this putaway).
Book Name	The name of the cost book. A book contains a set of accounting entries that are posted to the general ledger.
Ledger Group	Within PeopleSoft General Ledger, you can group ledgers together into ledger groups. A ledger group provides the functionality for managing multibook transactions that must post to all ledgers within a group simultaneously.
Ledger	Within PeopleSoft General Ledger, ledgers organize accounting data. You can define as many ledgers as you need to record financial, budget, and nonfinancial transactions.
Ledger Template	Within PeopleSoft General Ledger, this template defines the physical attributes of a ledger. It streamlines ledger definition. The template is defined once and used for multiple ledgers.
Book Status	The status of the cost book. Values include: Pending, Active, Inactive, Stopped, and Cancel.
Profile	The cost profile that determines the methods to value inventory items. A profile contains three cost methods: receipt cost, cost flow, and deplete cost.
Cost Element	A code that is used to categorize the different components of an item's cost and also define the debit and credit ChartFields for accounting entries.
Transaction Group	Predefined codes that are attached to different types of transactions, such as, putaways, shipments, user adjustments, and so on.
Cost Type	Creates separate costing groupings with different methods of costing, such as, current, revised, or forecasted costs. The cost type also defines how purchased components are calculated.
Cost Version	Cost versions are a subset of cost types that enable you to have different simulations of the costs. A cost type and cost version combination is required to calculate the final cost of an end item.