Track real-time costs incurred and improve accounting efficiency
With OmegaCube ERP’s Actual Costing solution, you can easily arrive at actual costs incurred for material procurement, movement and consumption, labor involved and other overhead costs. Improve profitability and margins with an accurate accounting of actual costs.
Key Benefits of Actual Costing
- Accurate cost reporting due to actual cost consideration.
- Track costs in real-time across all manufacturing stages.
- Preferred method for frequently changing costs & material pricing.
- Improved forecasts based on accurate costing data.
Key Features of Actual Costing
- Use actual costing method to accurately arrive at manufacturing costs.
- Track actual costs as material is procured.
- Utilize actual cost in posting to work in progress.
- Use actual cost for finished goods.
- Use Standard costing if desired.
- Analyze purchase price variance and manufacturing variance.
- Track detailed breakdown for material, overhead, labor, outside process costs.
- Factor in rent cost, utilities cost, employee and contract wages.
Related Topics
What is Suppliers and Purchasing in ERP?
Suppliers and Purchasing Management in OmegaCube ERP streamlines material procurement process from suppliers, improves supplier collaboration, reduces procurement cost, improves cash flow and inventory management.
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What is Project Accounting in ERP?
Project Accounting in OmegaCube ERP helps manufacturers to comprehensively manage project budgets, inventory procurement, account for overhead costs, production costs, labor costs etc. With its integration with Inventory, order, purchasing and production management, manufacturers can accurately arrive at expenses and project profitability.
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