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Odoo Process Costing in Manufacturing
Odoo Process Costing in Manufacturing
€65.00
Return policy
10-day module exchange guarantee
Description
- Optimize your manufacturing costs by tracking and allocating material costs, labor costs, and overhead costs across production and manufacturing orders.
- This suite combines the strength of two powerful apps: one focusing on MRP process costing based on work centers and the other providing full visibility of costs at both the estimated and real-time levels.
- Designed for manufacturers seeking precise control over their production expenses, these apps enhance productivity by clearly comparing estimated and actual costs, driving informed decision-making and operational efficiency.
Key Features
- Add and manage direct material, labor, and overhead costs both on Bills of Material (BOM) and Production Orders, providing a complete overview of total process costs.
- Display total costs for materials, labor, and overheads on BOM and Manufacturing Orders, offering transparency and ease of analysis for manufacturing operations.
- Choose between automated and manual costing. Use manual entries for detailed customization, or leverage automated calculations driven by work center rates for real-time cost assessment based on consumed hours.
- Automatically transfer or calculate material, labor, and overhead costs in real-time as work orders progress, ensuring precise and up-to-date financial tracking for enhanced strategic planning.
- Print comprehensive process costing reports from BOM and Manufacturing Order views, allowing for thorough analysis and insights into manufacturing costs at every stage.
- Compare estimated costs with real-time costs to identify variances and inform better production strategies, improving overall operational efficiency.
Benefits
- Accurately monitor material, labor, and overhead costs across all production orders.
- Enhance budget management by comparing estimated and actual expenses for better control.
- Track ongoing processes with live updates on costs and production status for timely decisions.
- Gain detailed insights into operational efficiency to identify areas for improvement.
- Automatically compute costs for materials, labor, and overhead, reducing manual errors.
- Generate comprehensive reports for cost analysis, helping in strategic planning and audits.
Workflow
- Navigate to Manufacturing > Configurations > Settings.
- Admin selects the costing method: either "Manually" or "Work-Center".
- All costing data must be input manually by the admin.
- The system automatically displays the direct material cost based on the Bill of Materials components.
- Admin can manually add direct material, direct labor, and overhead costs directly to the BOM.
- All costs are visible in a dedicated tab for transparency and review.
- When creating manufacturing orders from BOM, the system auto-fills:(1) Direct Labour Cost, (2)Overhead Cost, (3) Material Cost (based on consumed components)
- Admin can also manually adjust any cost in the order.
- Click "Create Work Orders" to generate work orders with costs filled in.
- Upon completion, costs (material, labor, overhead) are documented in the order PDF for record-keeping.
- The system calculates actual costs based on work order duration and consumed resources.
- Admin enters "Overhead Costs per Hour" and "Labor Costs per Hour" in each work center.
- Costs are automatically added to the BOM based on actual work center data.
- Selecting a work center in BOM automatically includes associated costs.
- Creating manufacturing orders triggers the system to generate costs based on the selected work centers.
- As the work order progresses, costs are tracked.
- Admin can update consumed quantities, which adjusts material costs accordingly.
- After clicking "Produce All", the system confirms changes and recalculates total actual costs based on real resource usage.
- The system provides detailed cost breakdowns in the manufacturing order PDF.
- Costs include material, labor, and overhead, ensuring transparent, accurate costing for each order.
FAQ
What is Process Costing in Manufacturing?
How does integrated cost management work?
What costing methods are supported?
How is real-time costing handled?
Are costing reports available?
Can estimated and real costs be compared?
What kind of support do you offer after module purchase?
Do your Odoo extensions support multi-language functionality?
What versions of Odoo are compatible with your extensions?
Reviews
Precise Cost Control for Manufacturing Processes
Accurate Cost Tracking
Enhanced Cost Control
Real-Time Process Monitoring
Increased Productivity Insights
Automated Cost Calculations
Comprehensive Reporting
Features of the Process Costing in Manufacturing
Comprehensive Cost Management
Admins can add and oversee material, labor, and overhead costs on BOMs and production orders for full cost visibility.
Total Cost Transparency
Displays total costs for all elements on BOMs and manufacturing orders, making analysis straightforward and clear.
Flexible Costing Options
Select between automated calculations based on work center rates or manual entries for detailed customization.
Real-Time Cost Calculation
Automatically calculate and transfer costs during work order progress for accurate and up-to-date financial data.
Comprehensive Cost Reports
Generate detailed process costing reports from BOM and order views for thorough cost analysis at all stages.
Variance Analysis
Compare estimated costs with actual costs in real time to identify discrepancies and optimize production strategies.
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