Ceres Training: Inventory Costing, Purchased Inventory, FIFO vs. Standard, & Month-End Workflows

Welcome to the Ceres Inventory Costing Special Webinar, hosted by Connie Ahalt (National Office, Feeding America) alongside expert business analyst Sharon Jacobson (SJ Consulting). Recorded on December 8, 2020, and presented for the Feeding America member network, this deep-dive special session focuses heavily on inventory costing mechanics, with a special emphasis on purchased inventory workflows. Whether your food bank is reevaluating inventory valuation after the pandemic, working through FIFO vs. standard costing methods, configuring expected cost postings, or aligning agency fees with actual costs, this webinar provides essential guidance for subledger and general ledger reconciliation. --- 📌 TIMESTAMPS & CHAPTERS: 00:00 - Introduction & Welcome (Connie Ahalt) 01:30 - Purpose of the Webinar: Reassessing Inventory Costing & Managing Increased Purchased Volume 04:30 - The Three Lanes of Food Bank Inventory: Purchased, Donated, & Government Commodities 07:45 - The Gap: Expected Costs, Expected Cost Postings to GL, and Automated Cost Adjustments 14:15 - Cost vs. Fee Models: Cost-Plus, Weighted Average Costs, and Lot-Specific Tracking 16:45 - Item Card Setup: Costing Methods (FIFO vs. Standard) and Unit Costs 26:45 - Agency Fee Structures: Handling Fees, VAP Fees, Fixed Fees, and Cost Adjustment Factors 42:30 - Reporting & Visibility: Inventory Valuation Reports and Inventory-to-GL Reconciliation 48:30 - Recommended Workflows: Purchased Inventory Flow with Expected Cost vs. Standard Cost 58:30 - Month-End Costing Checklist: Running Adjust Cost Item Entries & General Ledger Setup Dates 1:06:45 - Promising Practices & Model Item Templates 1:09:30 - Q&A Session: Automatic Cost Adjustments, Agency Express Syncing, and Cost/Fee Flow --- 🔗 RESOURCES & RELATED LINKS: • Feeding America HungerNet Extranet: https://www.hungernet.org • Ceres Technical Documentation & User Guides: Available via Member Business Solutions on HungerNet. • For User Group invites and access inquiries, contact Connie Ahalt: cahalt@feedingamerica.org #CeresERP #FeedingAmerica #FoodBankManagement #MicrosoftDynamicsNAV #BusinessCentral #InventoryCosting #FIFO #NonprofitTech #HungerNet