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Actual Costing

Overview

 

Kingdee K/3 Actual Costing is intended for the cost accounting personnel of the finance department and management personnel of related departments in industrial enterprises. It provides overall product cost management solution, including basic settings for production costing of products, expenses collection, expense allocation, and cost calculation. It helps enterprises complete production costing of products in each month and implement cost management based on it. The module often works with Inventory Management and Inventory Accounting to provide analysis data for Cost Analysis and works as a complete cost management system, or with MO Management, General Ledger, Fixed Assets Management, and Payroll Management to provide a more comprehensive data integration and analysis solution.

Business Workflow

 

 

 

 

Functions

 

1.Basic setting of costing

The module provides master data setting for actual costing of products, and supports multiple costing methods: variety method, process method, batch method, and classification method. It allows you to customize various allocation standards and cost analysis types, and provides flexible data import/export, thus helping enterprises set up a flexible actual cost system at a fast speed and establish a solid foundation for actual costing.

 

2.Cost data collection

The module can collect the output and expense of a product. By close integration with Manufacturing and Finance systems, the module can collect and sort out master data (such as the input quantity, finished product, scrap, WIP, service, and work-hour) automatically, and categorize material costs, labor costs, and overheads rationally, to help enterprises improve the accuracy and efficiency of data collection.

 

3.Cost expense allocation

The module provides the function of actual production cost allocation, such as inter-department joint consumption allocation, joint consumption material cost allocation, WIP cost allocation, auxiliary production overhead allocation, and cost allocation of classification method. It allocates joint consumption automatically, manually, or through the wizard according to reasonable allocation standards, and offers various expense allocation reports, to help enterprises allocate cost expenses rapidly, and realize rational and transparent allocation.

4.Actual cost calculation

The module provides validity check of cost calculation and a cost calculation wizard. It automatically checks the entire cost calculation process, analyzes each problem intelligently and gives you the best solution, to help enterprises perform product cost calculation by variety method, process method, batch method, and classification method. In addition, it can automatically recover costs as required, thus greatly reducing the vulnerability to errors and improving the accounting efficiency and accuracy.

5.Actual cost analysis

The module provides three key cost analysis models. Analysis of cost structure helps enterprises master the different elements of cost, and strengthen the cost control. Analysis of cost type helps enterprises enhance cost control. Analysis of cost in different periods helps enterprises analyze the impact factors on cost.

6.Order cost tracking

The module enable you to trace the actual order manufacturing cost involving those materials which pricing method is batch identification, including the tracking of expenses collection, expenses allocation, and cost calculation result. Related analysis reports are provided to help make-to-order enterprises understand order cost structure, enhance order cost analysis, and adjust manufacturing processes and sales policies in time.

7.Scrap loss handling

The module deals with scrap losses in an all-around way. It can distinguish repairable and unrepairable scraps, independently collect and allocate repair expenses, automatically calculate scrap losses, support quality cost analysis, and deduct corresponding cost items when entering claim data for scrap to define the quality assurance responsibility clearly.

8.Cost voucher handling

The module provides accounting voucher templates for you to generate vouchers. It can automatically use relevant templates to generate vouchers according to the results of expenses collection, expenses allocation, and cost calculation, thus helping enterprises improve the accounting efficiency and providing them with a integrated solution.