Material ledger can be implemented any time but of course should be starting of the any period. Ideally,it's advisable to implement on the first day of the fiscal year but still it's not a hassle to do it in a period other than the the start of fiscal year.
Material ledger is a parallel ledger for the inventory valuation & it helps you to calculate the material price with loading variances. If you implement it within the fiscal year then you could carry on with the material ledger closing activities for the periods & keep accumulating the variances. Once you reach to the last period of the Fiscal year then you could settle your variances over the inventory & this is how you could start your new fiscal year with price calculated by the material ledger.(remember, settlement of variances is still NOT mandatory step & it' s a choice to the customer )
Also, keep in mind that before you implement the material ledger, do thorough thought process because once it's implemented, it's near to impossible to step back.
I have shared just my practical experience & would advice you to follow other's experiences too, in case they have different experiences & thoughts.
I hope this helps you.
You must be a registered user to add a comment. If you've already registered, sign in. Otherwise, register and sign in.