Summit Encore Series Video: Financial Impacts of Production

Updated: 03/24/17 Our job of implementing Enterprise Resource Planning (ERP) and being a Cloud Service Provider (CSP) requires that we listen to our customers and respond by solving our customers biggest problems with automated software.  In spite of other software's big promises, companies still struggle with quantifying the real cost of producing finished goods or absorption costing. Our team frequently gets questions about production costing from our manufacturing customers.

Track All Production Costs to the General Ledger

Discover how Dynamics AX and Dynamics 365 can solve this most common problem among manufacturer's by attending a webinar entitled: The Financial Impacts of Production. The webinar will show how Dynamics AX traces production costs to the general ledger.

Cathy Dean, the managing director of Clients First Minnesota, presented the video below for the Dynamics AX Users Group (AXUG).  The video shows how to overcome the challenge of adding all the indirect costs into the cost of production with Dynamics AX.  If your company manufactures or constructs products, watch the video below and  download the notes to the The Financial Impacts of Production by following this link.

Cathy Dean will walk you through a step-by-step review of the production processes inside Dynamics AX that are necessary to see the real cost of production and how those processes affect the General Ledger.

Cathy Dean obtained her BS in Accounting from St. Cloud State University, and knows manufacturing from your shoes being a CFO, and has:

• 10+ years of experience in Microsoft Dynamics AX
• Over 20 years of experience in the industries of manufacturing, and wholesale distribution
• Deep IT and ERP experience in areas of food processing, cost and general accounting, manufacturing, cash management, financial analysis and forecasting

Microsoft Dynamics 365 for Operations also supports absorption costing (aka tracking all production costs to the general ledger) by enabling indirect costs to be absorbed into the product cost. Examples of indirect costing or overhead expenses include:

• Depreciations of manufacturing equipment
• Maintenance expenses that are related to manufacturing equipment
• Shop floor expenses for cleaning, rent, or insurance
• Administrative expenses
• Utilities

To read more about how absorption costing can help your company become more solvent read our blog, "Manufacturing problem solved: Costing Finished Goods" or download the whitepaper below.

Clients First can help your company solve problems such as this with one unified system whether on premise or in the cloud by deploying Dynamics AX or Dynamics 365 . Call us to learn how we can help your company get more visibility into the costs associated with running a business in any case, be it in manufacturing, engineering, transporting, cycle timing, or warehousing.

Email: Minneapolis/St. Paul, Minnesota, or call at 877.428.7205.

Email: Dallas/Fort Worth, Texas , or call at 800.331.8382.

 

December 29, 2016 by Clients First South Central

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Tags: AXUG, dynamics 365, Microsoft Dynamics AX, production cost, Real Cost of Producing Finished Goods, tracing production cost
Posted in About Microsoft Dynamics 365 for Finance and Operations, About Microsoft Dynamics AX, ERP Software Information | No Comments »

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