The canias ERP Production Costing (PRC) module includes cost calculation of products manufactured.
Production Costing (PRC) with canias ERP
The canias ERP Production Costing (PRC) module includes cost calculation of products manufactured. The cost values can be used in in-house reports and also included in the canias ERP Financial Accounting module.
In the canias ERP Production Costing (PRC) module, production cost value consists of three main elements: Raw material amount, chargeout of costs entered in cost centers to activity amounts and invoice amounts paid for outsourced operations. Raw material amounts are supplied by the canias ERP Inventory module, activity amounts are supplied by the canias ERP Costing Module and factory operation invoices are supplied by the canias ERP Verification module.
Production Costing (PRC) is a module that is fed with data from several modules. In order to incorporate raw material, activity and factory invoices into the transaction properly, periodic works carried out in the Inventory Management, Cost Center Accounting and Verification modules must be finalized before calculating production cost. canias ERP Production Costing enables users to perform an accurate transaction by instantly reporting the status of the data to be supplied.
The canias ERP Standard Cost Calculation module takes cost items into account on a production order basis. It reflects the amounts of all cost items to the stock entries of Production Orders to which they correspond. The advantage of this point of view is that it can reflect, in a realistic fashion, the prices of products whose production process varies during the period. In addition, the operational structure of the production orders are taken into account; for stock entries other than products (e.g. semi-finished products and products/byproducts to be reprocessed), fair values are calculated. In addition, the costs of production orders that remain incomplete when the accounting period is closed are transferred at fair value. Using bill of materials and routing information, the costs of products included in inventory can be separated from expenses incurred and expenses that have not yet been reflected to stock entry can be carried forward to the next period.
The canias ERP Production Costing (PRC) module offers a wide reporting capability to users. Cost reports can be used in both presenting results and preventing potential errors. The information presented in reports as comprehensive as possible with a simple design to communicate results quickly and effectively.
Production Costing (PRC) results can be automatically transferred to accounting via canias ERP. Projections of product accounts and expense accounts are created. As a result of accounting of cost results, cost account closings can be checked without adding further accounting
The canias ERP Production Costing (PRC) module processes the raw data from the canias ERP Production Planning and Scheduling, caniasERP Inventory,canias ERP Costing and canias ERP Verification modules. Thus the need for making double entries or data transfers is eliminated. Since costs results have to be given in a limited period of time after the period closings, this advanced integration saves a great deal of time for users. In addition, results can be transferred to the canias ERP Financial Accounting module.