Mitchell Humphrey’s FMS II Cost Accounting software system helps you evaluate financial performance for all types of manufacturing, maintenance, and construction jobs. You can track both committed and actual expenses by job. And you can quickly and easily compare those measures with budgeted expense, budgeted revenue, or actual revenue.
With the FMS II Cost Accounting solution, you can:
- Accommodate the unique way you do business. You define the chart of accounts for your Job Costing ledger. You can include fields for department, job, cost category, client, asset, employee, or any other category which is important to you. And you can have custom descriptive data to define the details of each job.
- Accurately determine the costs of products and services. The system supports Activity Based Costing, allowing more accurate measurement of overhead and indirect costs. By job, the system accumulates statistical data such as hours of machine time or units of production.
- Save significant time and effort. If the Job Cost ledger is required to tie into the General Ledger, subsidiary systems such as Payroll and Accounts Payable can update simultaneously. Both ledgers will balance at all times with no extra effort on your part. And the FMS II Accounts Receivable system can automatically bill for jobs performed for clients using terms established per job.
- Facilitate your budgeting process. You can budget at any level desired - day, week, month, or year. You can even budget by year for multi-year jobs. You can track revisions to the original budget using multiple budget files. And powerful computation techniques assist you in performing forecasts and what-if analyses.
- Store and report on the data you need, the way you want to see it. All information - actual, commitment, and budget - can be reported at any level of detail you want, such as day, week, or month. Naturally, you can also report at summary intervals such as quarter, year, or job-to-date.