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Cost is the total value expressed in monetary terms of all kinds of transactions that businesses undertake to obtain goods or services within their scope of activity. Tracking product costs is a very important issue for businesses. Tracking direct and indirect costs allows businesses to accurately track their profitability rates.

Path: ERP > Sales-Distribution > Cost > Product Costs

Product costs are recorded in Workcube in two ways: General Costs and Location-Based Costs.

General costs are recorded by calculating the products based on their system-wide entries. Location-based costs are recorded by calculating all product entries to that location in the locations where cost tracking is carried out. In movements from one location to another, the cost of the product at the exit location is moved to the entry location by calculating it according to the inventory method.

Calculations Things to Know First

In the weighted average method, an average price is calculated and the price of the first items and materials sent to production and remaining in stock is determined. Average price; It is calculated by dividing the total of all raw materials and supplies purchased within a period, not after each purchase, by the total amount. In other words, the cost price calculated once at the end of the period, the amount sent to production and remaining in stock is evaluated with the cost price in question.
On the production side, {[Total raw material and semi-finished product cost during the period + Total labor cost for the product produced during the period + total general production expenses for the product produced (cost reflected from cost centers] / Total entry during the period}
Purchase type invoices, delivery notes, stock that perform cost transactions. Vouchers, inter-warehouse transfers create a cost record for each product included in the inventory and whose cost is tracked.
When creating an invoice or delivery note cost record that performs cost processing, the costs previously recorded for the products are also taken into account. It creates the net cost from the purchases by calculating the purchase prices of the products using the weighted average method. In order to calculate the additional cost, an expense must be entered in the invoice and this expense must be distributed to the invoice lines. The sum of the net cost and additional cost creates the total cost.
When a past-dated invoice is recorded, a cost record is created on that date. In addition, all costs created after that date are also taken into account, and the updated invoices update both the cost record they created and all costs recorded after that date. Likewise, deleted or canceled invoices delete the costs they created and update subsequent costs.
When it is created, the costs of the products in the lines of all sales invoices, orders and delivery notes recorded after the date the cost occurred, come from this record, until a new cost record is created.
Updated, canceled or deleted invoices update the recorded costs as well as the lines in the sales transactions in which these costs are passed, so that the costs are tracked accurately.
The costs of the produced products are created by adding up the costs of their components. Each different spec has its own cost.
The costs of imported products are created on the imported goods receipt. The additional cost on the import invoice is transferred to the imported goods receipt. At the same time, the additional cost can be corrected by re-entering the expense in the imported goods receipt.
In order to track the stock costs correctly, the costs of the stocks must be entered in the stock opening vouchers.
This is done on the Compliance with Agreement-Action Conditions screen in the invoice. After the checks, the price difference invoices update the recorded costs of the products in the invoices to which they are linked. Thus, the cost changes resulting from the price differences are recorded.

Cost by Currency

Example for the TL cost calculation method;

A purchase invoice in which we purchased 10 products for 10 TL on 11.05.2021. Let's save it.
Let's buy 20 products for 20 TL on 12.05.2021.
New cost: (10 x 10 + 20 x 20) / 30 = 16.6667
Total stock cost is 500 TL
5 units of this product on 13.05.2021 Let's sell 5 products at the cost on that date.
New cost: 5 16.667 + 30 It becomes 1,077.27.
Let's return 1 product to our supplier on 16.05.2021. Even though the purchase return invoices have a sales character, they create a cost record.
When creating the cost record, the product is calculated based on the price we returned.
In this example, let's return it at 30 TL, although the unit cost of the product is 23.9394 TL. x 23.9394 – 1 x 30) / 44 = 23.8016
The total cost is 1.047.27.
Let's record a Sales return invoice on 17.05.2021. In sales returns, products enter the stock with the current average cost.
Therefore, Sales return invoices do not only create a cost record. In the example here;
Total cost is now 1.047,27 + 1 We buy 1 piece of goods, according to the exchange rate of that day;
TL equivalent: 980 TL (EUR exchange rate: 9.80) exchange rate 9.60)
USD equivalent: 259 USD (USD exchange rate 7.40)
The new costs in this case are:
EUR: (100x1 + 200x1)/2 = 150 EUR
USD: (131x1 + 259x1)/2 = 261 USD
TL : (980x1 + 1920x1)/2 = 1940 TL

After the transactions, you can check the cost history by going to the costs in the product detail.

Costs can be tracked in 3 different currencies in Workcube.

System Money Unit: It is defined under Control Panel > System > Period Transactions > Accounting Periods. It refers to the main currency unit.
TL appears as net cost (TL), additional cost (TL), total cost (TL) on the product cost page.
System 2. Currency: Control Panel > System. It is defined under > Period Transactions > Accounting Periods. It is the currency selected, different from the main currency.
It is recommended to select it at the beginning of the period and not change it, as updating it within the period may cause inconsistent records.
USD appears as net cost (USD), additional cost (USD) and total cost (USD) on the product cost page.
The Product's Standard Purchase Currency. Unit: It is selected in the ERP > Sales-Distribution > Product and Stocks > Product card.
On the product cost page, net cost, additional cost, total cost are calculated according to the selected currency.

After selecting the currencies according to preference, the cost calculation method is selected in the company flow parameters to determine the way the costs are calculated.

Calculated from TL Currencies; costs are calculated in TL and foreign exchange costs are calculated from the exchange rate of that day.
Each currency is calculated within itself; without taking into account the exchange rates, TL costs are included in themselves, and foreign currency costs are also included in themselves. It is calculated.

On 05/05/2021, we bought 1 product for 15 EUR. Let the exchange rates be USD=8 and EUR=9.

The costs in the product cost card will be as follows.

Net Cost (TL) = 15 x 9 = 135. TL

Net Cost = 15 EUR

Net Cost (USD) = (15 let

If each currency is calculated within itself

Net Cost = 15 + 15 / 2 = 15 EUR

Net Cost (USD) = ( 17 + 15 * 10 / 8,5 ) / 2 = 17.3235

Net Cost (TL) = ( 135 + 15 * 10 ) / 2 = 142.5

The table in the Cost History is as follows:

If Calculated in TL (System) Currency

Net Cost (TL) = ( 30 + 15 * 10 ) / 2 = 90 TL

Net Cost = 90 / 10 = 9 EUR

Net Cost (USD) = 90 / 8.5 = 10.58 USD

The table in the Cost History is as follows:

You must have made the settings and definitions of the costs completely and properly. However, the cost function starts to work after healthy definitions. and cost - profitability reports give healthy results.

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About Workcube Objects

Product Costs

Costs are recorded in two ways. General Costs are recorded by calculating the products based on their system-wide entries. Location-based costs are recorded by calculating all product entries to that location in the locations where cost tracking is carried out. In movements from one location to a...

Type: WBO Version: Catalsyt v5 Licence: Standard Author: Workcube Core