Advanced Cost Accounting provides the framework and features to incorporate relevant and valuable cost data into cost of goods sold. It enables companies to add Activity-Based Costing (ABC) cost components to standard inventory cost. The companies gain greater flexibility in determining the exact level of cost detail required to manage the business.
Activity-Based Costing (ABC) is a method for estimating the resources required to operate an organization’s business processes, market and sell its products and serve its customers. Advanced Cost Accounting extends control over costs posted by allowing you to choose the cost basis for sales transactions and to selectively include the posting of activity based components as Flat Fees, Miscellaneous Charges, Time Sensitive Activity Cost Objects, and/or Services to inventory/COGS accounts. The company can incorporate the cost components after in-depth ABC analysis to enhance the cost information without additional programming. Advanced Cost Accounting provides three new fields to Microsoft Dynamics GP Sales Transaction Entry to record Total Cost, Gross Profit and Profit Margin for each sales transaction. This allows the company to track the profitability of each sale, each customer, and/or each product or service. By providing each sale and enhanced product/service cost information, Advanced Cost Accounting provides Microsoft Dynamics GP users better understanding of profitability to drive both tactical and strategic decision about product lines, customer value, marketing campaigns, and re-engineering initiatives.
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