FF. Cost Accounting Module

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Guide

Advanced Costing module supports in collecting, analyzing and storing data related to product cost. This module is an effective tool to calculate cost of industrial products (process and make-to-order, manufacturing by one or many operations). Customizations can be made as per specific requirements on product costing of enterprises.

Workshop information (operation), product, manufacturing order (sales order)

  • Workshop (operation) entry;
  • Manufacturing order (sales order) entry;
  • Bill of material (BOM) per product entry;
  • Cost allocation norm/coefficient per product entry (Salary cost, depreciation, water and electricity...);
  • Material replacement declaration (if any);
  • Defines objects with cost allocated (for cost having specific aggregation only);
  • Creates product cost detailed sheet (total product cost forecast).

Opening and closing data entry

  • Opening WIP quantity entry (when you start using Fast Financial);
  • Opening WIP value by cost factor entry;
  • Opening WIP material quantity entry (if any);
  • End of period WIP quantity entry;
  • End of period inventory of product entry (if any).

Arising expenses entry

  • All expenses related to product cost are entered in other modules such as General Ledger (Salary, social insurance allocation entries...), Cash Management, Inventory Management, Fixed Asset/ Tool & Supply Management...

Costing process

  • Period-beginning cost adjustments (if any) including: adjust period-beginning quantity of WIP, adjust period-beginning balance by cost factor, adjust period-beginning balance by item.
  • Calculates issuing cost of material (processed at Inventory Accounting module);
  • Calculates receipt quantity, production quantity, converted WIP quantity at the period-end;
  • Aggregates and allocates arising costs: material cost, labor cost, overheads;
  • Defines ending WIP cost by cost factor, by item;
  • Calculates product cost;
  • Product cost adjustment (if any);
  • Updates cost for finished product receipt.

Product cost reports (process and make-to-order manufacturing)

  • Cost of product card;
  • Cost of product by item;
  • Cost of product by cost factor;
  • Production cost summary by product;
  • Production cost summary by cost factor;
  • BOM and actual raw material comparison by finished product;
  • Cost aggregation and allocation sheets;
  • Period-end raw material cost by physical counting.

Integration with other modules

  • Receives data from other modules and transfers data to General ledger module and Inventory management module (for finished goods costing)
Fast Financial, Cost Accounting
Fast Financial, Cost Accounting

 

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Last Updated Tuesday, 15/05/2012, 11:09:58, (GMT+7)  

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