KB106:Top 4 features of Cost Accounting in Finance Module, you should consider while implementing ERP Solution

KB106:Top 4 features of Cost Accounting in Finance Module, you should consider while implementing ERP Solution

KB106:Top 4 features of Cost Accounting in Finance Module, you should consider while implementing ERP Solution 768 432 Nilesh Mandani

Transfer G/L Entries to CA

Microsoft Business Central D365 allows you to transfer the general ledger entries to the cost accounting journals. This transfer requires the cost centers and cost objects to be defined on the GL journal. Business central also records the entries that are transferred to be able to track the transfer source and target.

The transfer may be manual, or it can be automated on a predefined date and time.

 

Calculate Allocation Keys

The allocation of entries into the cost centers or cost objects requires the allocation keys to be defined. Business central allows you to define the source and the targets of the allocation along with the type of allocation. The allocation may be static based on a fixed percentage or ratio. It can also be dynamics which has multiple dependents on it.

 

Allocate Costs

The costs can be defined on the basis of the allocation keys. The costs are allocated between the different cost centers and cost objects. The allocation of cost may be manual or automated in the system as per the requirements of the company.

 

Transfer Budget to Actual

Microsoft Dynamics Business Central allows the organizations to transfer their budgets into the actual costs. This can be pre-planned or be done on ad hoc basis. The Transfer between the budgeted costs and actual costs is done through the cost accounting, the transfer can also be vice versa i.e. from actual to budgeted costs.