Is there any way to account for inventory that is in manufacturing WIP (Work in Process), while it is actually in process? The best explanation that I can find is the following: https://www.odoo.com/fr_FR/forum/aide-1/odoo-wip-valuation-139977
I have read through this post and studied it in great detail and it gives a great explanation of the process. However, as best as I can tell, it still accounts for WIP after the fact. Following the process, components are transferred from inventory to WIP account and then simultaneously back to inventory as a finished product when the Manufacturing Order is 'Mark as Done'. It appears the Journal Items are posted simultaneously removing the components from inventory into an account then transferring the completed product from Inventory WIP. Waiting until the Mfg Order is done to move the components to the WIP account misses the importance of WIP, which needs to be accounted for while the Manufacturing Order is IN PROCESS. Is there any way to account for inventory that is in manufacturing WIP (Work in Process), while it is actually in process?
Our example, some of our Manufacturing Orders will take 1-2 weeks to complete. Inventory can be issued to the Mfg Order at the beginning of the work, but it still shows in inventory, not WIP. If the work stretches from one accounting period to another, we have to account for the WIP in our general ledger.
It still accounts for WIP after the fact.
@ryan - That is what I am seeing also. We are looking into this for a client and considering options. Did you ever find a good process?
We are also struggling to understand how to incorporate direct labour and man o'head in the BOM costs and create the appropriate financial journals v14. Does anyone know how to do this?