For manufacturers, job costing is a vital component of enterprise resource planning. Accurately calculating the cost involved of manufacturing goods is a fundamental responsibility of accounting departments within manufacturing enterprises. By implementing a successful job costing strategy, manufacturers can understand the individual costs of different projects in order to provide customers with more accurate quotes.

Increased demand for production of a commodity can overwhelm basic accounting software. Microsoft Dynamics NAV provides enterprises with manufacturing accounting software that can accurately document the cost of different, simultaneous projects. Microsoft Dynamics NAV provides accountants with the ability to associate a product with its manufacturing process. In doing so, costing information is more accurate and its analysis allows for more accurate profit margins to be forecast.

Once a production system is understood, Microsoft Dynamics NAV can implement a process to understand when inventory must be replenished. Instead of ordering inventory on a preparatory basis, Microsoft Dynamics NAV utilizes an inventory management system that can replenish inventory based upon the needs of a job as they arise. Its ability to calculate when inventory must be replenished allows manufacturing enterprises to make more cost efficient orders by having data ahead of time.

Another key aspect that Microsoft Dynamics NAV has in creating efficient job costing is its ability to quickly produce financial statements. Allowing accountants to have financial statements that are readily accessible is key in understanding the costs associated with a particular project. Bing able to frequently produce financial statements allows accounting departments to see opportunities for further cost reduction as they arise, instead of analyzing data in hindsight and not being able to make alterations to the production process that are more cost efficient.

Accent Software, Inc. is a trusted Microsoft business partner with expert insight into operating Microsoft Dynamics Nav. Manufacturing enterprises that can implement a job costing strategy through the use of manufacturing accounting software allow their enterprises to achieve cost reduction and thus greater profitability.