PRODUCT COSTING

Product Costing

Product costing provides for the robust calculation of standard costs. Standards for material, labor and overhead are established for lower level assemblies; the lower level assembly costs are rolled up through each level on a Bill of Material (BOM). Labor and overhead costs are calculated using routings and work centers, or assigned directly to each manufactured item. 

Standard cost versions can be maintained by entity, warehouse and operating budget. Labor variations are supported by warehouse and part revision dependent routings. 
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Cost Methods

Many businesses often demand the flexibility to be able to make use of multiple costing methods. Visibility ERP supports the use of multiple costing methods including:

  • Standard Cost
  • Actual Cost - FIFO
  • Actual Cost - LIFO
  • Actual Cost - Average

Revised Costing Modeling

Visibility ERP cost modeling performs "what if" costing scenarios, maintains multiple versions of revised standard or revised current replacement costs, and provides the ability to select and promote the most appropriate revised cost to current with a single click.

Cost Report and Analysis

Both real-time actual or standard cost are available. The system provides the ability to immediately inquire, report and analyze the state of the business or drill to individual cost elements.
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Revenue Recognition and Installment Billing

Automate the generation of accounts receivable invoices based on user defined installment billing templates. These templates allow for timed generation of invoices in relation to order progress based on predefined business specific event triggers. 

Order acceptance, order allocation, material issue and shipment are typical events subject to the billing template. In addition, invoice amounts can be subject to pre-defined revenue recognition templates resulting in automated conversion of deferred income to recognized revenue. Visibility ERP supports recognized earned value measurement.

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