Accounting

How to Go From Excel to Manufacturing Software / MRP System

How to Go From Excel to Manufacturing Software / MRP System in Stock Management and Production Scheduling.

What is Accrued Payroll in Manufacturing Accounting?

For small and medium-sized manufacturers, tracking and administering payroll accurately is a critical function.

Top Benefits of Manufacturing ERP for Accounting

ERP systems can offer a strong ROI for small to medium manufacturers who choose to invest in a quality system. For many, the benefits of such a strong manufacturing ERP system mean tighter controls and standardized data for production that allows for optimized production. It also recalls images of better control over inventory and the supply […]

How MRP System Improves Purchase Planning

Manufacturing Resource Planning (MRP) Systems have been around for many decades, initially known as Material Requirements Planning Systems. These systems operate on the principals of determining what is needed, how much is needed and when the materials are needed to complete production in a timely and cost-effective manner.

What is Bill of Materials Functionality?

A Bill of Materials is the complete list of parts, materials or ingredients required to complete a finished and sellable product.

Work in Process Inventory (WIP) – Definition and Formula

Every manufacturing company must deal with inventory. Those that do it thoroughly by properly accounting for Work in Process inventory are bound to have a competitive advantage over the others.

How to Produce the Best Job Cost Estimates

There was a time – not all that long ago – when quoting a manufactured product or service would turn into a guessing game. Yes, it was an educated guess to be sure.

5 Practices for Job Costing

Job costing is considered to be something of an art form as creating a balance between your business and ensuring your employees are fairly paid is not always as easy as you may think.

The Benefits of MRP System for Manufacturing Accounting

If you have any familiarity with MRP systems, you know the advantages they offer in workforce planning, procurement, inventory management, workstation capacity, shop floor data collection, and so much more.And while production planning, eliminating excess inventory, and cost savings are substantial benefits of owning MRP software, one that might be overlooked is the value it […]

Manufacturing Software and Accounting Software Integration

At some point, every production company needs to start using manufacturing software (i.e. an MRP system). It is very likely that by that time accounting software is already in use, but it has ceased to satisfy needs – it does not supply the necessary answers and restrains the growth of the business. Therefore, a decision is made to start […]

How much do my products cost?

What is product cost? It’s important to know the manufacturing cost of your products. This is one of the most significant and defining factors in any manufacturing business. The sales price is the value the company receives for making the product. The key question is – at what cost does this come? If the cost […]

Manufacturing Cost Advantage Shift

New studies reveal that the cost competitiveness of manufacturing across the globe has shifted. For example, according to the Boston Consulting Group, even though China remains the number one country in terms of manufacturing competitiveness, the manufacturing cost advantage over the U.S. has shrunk to less than 5 percent.

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