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Forum | Message
M3 Standard costing
Savith Kumar Kumar *MUGA
BC:

Question:

Article:

M3 Standard costing

Categorized as:

M3

We're thinking for changing costing type from weighted average to standard. If anyone recently went through the similar costing, I would like to learn how you accomplish it and also any other gotcha things we should consider?
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M3
Group: *MUGA
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Latest msg: Hi Savith, Yes, we did have manufactured items vs. procurement but minimal vs. procurement. Yes, M3/CSDE does handle variances in manufacturing stan... from Marie-Pascale AUTHIE, on 10/16/2024

Comments (3) (Descending Chronological Order)
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Marie-Pascale AUTHIE
BC:
Hi Savith,
Yes, we did have manufactured items vs. procurement but minimal vs. procurement.
Yes, M3/CSDE does handle variances in manufacturing standard vs. actual reported on MO.
You can contact me on mp@mpa2c.com if need more detail (though I'm not a finance expert 😉 just love my costing).
Savith Kumar Kumar
BC:
Hi Marie-Pascale, thank you for your quick response. Did you convert manufacturing items? if yes, does M3(CSDE) handles the variances?
Marie-Pascale AUTHIE
BC:
Hi,
We did it last December 2023, and it was a bit of a project (including several dev in Xtend to convert).
The method can only be changed on existing items if you have:
- no inventory
- no open transactions
Then it is "easier" if the item is empty.

For standard cost you need to consider that your master data table should be clean when launching standard.
Average do inherit what's in the PO, the PO is usually actual data.
With  Read more...Standard when you create the items you need to have all set up.
For example, in procurement the supplier needs to be correct in MMS001/MMS002 so that the costing launch fetches default terms in supplier master. And if you have multiple suppliers you need to select one as your default in MMS002.
Also accounting events might be different, test/test/test/ and retest with your finance team.
One big lesson in costing in general, if you don't have the manpower in AP to invoice match do not configure your purchase costing element as external... (that applies to both standard and average).
Hope this helps,
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