Costing
ShopWorX ERP

Benefits

Immediate access to cost data will let you find and correct problems while resolution is still possible.

Save Time and Increase Accuracy

Eliminate multiple entries to reduce the chance of errors by interfacing with the Shop Order and Costing modules. Information flows automatically from Time Reporting, Data Collection, Inventory, Material Reporting, Purchasing, and Accounts Payable.

Flexible General Ledger

The General Ledger interface can be simple or defined by labor, material, subcontract, fixed and variable overhead, warehouse, product code, and/or cost code. This enables you to define your inventory, WIP, finished goods, and cost of sales accounts to any degree of detail you may require.

 

Overview

The Costing module gives you the ability to monitor and control costs at several levels. Extremely flexible, it easily adapts to your business requirements without requiring custom programming.

Features

Standard Costing, Average, or Actual Costing
This module supports standard, average, or actual costing. In all cases, actual performance is tracked, with the difference being the general ledger interface. With standard costing, costs are posted at standard, and variances are automatically calculated and posted. When average costing is used, the inventory material costs are calculated as an average cost of the on hand inventory. Labor and subcontracting actual costs are posted to work in process and the general ledger. With actual costing, the costs are tracked by lot or batch. As each lot/batch is issued to a shop order the actual cost for that lot/batch is posted.

User-Defined Cost Codes
The costing module lets you define your own cost codes, giving you a great deal of flexibility in reporting. The system has default cost codes defined for labor, fixed overhead, variable overhead, material, subcontract, and other costs, and you have the ability to break those
down into greater detail. Some companies break labor costs into engineering, setup, and rework, and break material costs into raw material, component inventory and finished goods.

Cost at Multiple Levels
The costing system lets you report at a detail level. Panorama will let you view costs at a summary level, drilling down into greater levels of detail when required. Costs are available by project, shop order, cost code, operation, part number, employee and general ledger account. Full detail is maintained until you decide that it is no longer required, at which point it can be summarized by operation or purged.

Shop Order Report Definition
The Shop Order Cost Report Definition is a report-writer-style program specifically designed to interface with the Shop Order and Shop Order Costing modules. You can develop your own cost reports and save them for re-use. You can define what level of detail you wish to print, what cost elements in what order, and whether you are comparing standard cost, estimated cost or quoted cost with actual cost in total or per unit. You can also specify ranges of orders, dates, customers, sales reps, product codes, or part numbers to report.


Standard Cost Variance Reporting

If you are using standard costing, the Shop Order Costing module will calculate and post all your variances including:

  • Rate Variance
  • Efficiency Variance
  • Purchase Price Variance
  • Usage Variance
  • Methods Variance

Flexible Assignment of Overhead
ShopWorX supports both fixed and variable overhead costs. Overhead costs can vary from work center to work center, and can be assigned based on a percentage of labor costs or as a fixed dollar amount per hour.

Costing Integration

  • Panorama
  • Quoting
  • Sales Analysis
  • Configurator
  • Enterprise Resource Planning
  • Rough Cut Planning
  • Shop Orders
  • Time Reporting
  • Data Collection
  • Purchasing
  • Inventory
  • Customer Billing
  • Accounts Payable
  • General Ledger

 



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