Accurate Costing to Improve your Bottom Line!
Embrace lets you choose costing methods and specify price breaks to best fit your industry and your business. Embrace supports unlimited costing methods and pricing scenarios simultaneously, to show the effect on the bottom line. Average, actual, standard, LIFO, FIFO and Warehouse-Specific costing are maintained.
Standard cost and selling prices are recalculated using supplier electronic price lists, blanket orders, percentage increase and last received price. Additional elements of cost per product, e.g. duty, surcharge, freight, can be applied while the costs for manufactured items, including products, labour and recoveries are all rolled up. Date-driven rates can be applied for both standard and actual costing.
Catering for all your needs, fixed asset inventories, landed cost calculations, substitute item definition and powerful unit of measure conversion tables are all supported.
Embrace clients use Full Inventory Costing for :
- Inventory Valuation and Costing
- Setting up and running different costing methods, i.e. average, actual, standard, LIFO, FIFO
- Setting up and maintaining vendor price lists
- Defining multiple break and price tiers for each vendor and product
- Performing cost and quantity adjustments for each inventory item
- Tracking period balances and valuations on an inventory period basis