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.
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
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.
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.
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
Standard Cost Variance Reporting
you are using standard costing, the Shop Order Costing module will
calculate and post all your variances including:
Assignment of Overhead
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.