Cost


Cost is the total value expressed in monetary terms of all kinds of transactions incurred by the enterprises in order to obtain the goods or services in the field of activity. It can also be defined as the sacrifice incurred in order to produce a good or service.


Monitoring product costs is a very important issue for businesses. Tracking direct and indirect costs enables businesses to accurately track their profitability ratios.

In order to better monitor the unit and total costs incurred in all departments of your business, to make better planning in your purchasing-sales processes, and to do similar works, you must have made the settings and definitions of costs completely and properly in Workcube. However, the cost function starts to work after healthy definitions. In other words, it starts to record costs and gives healthy cost - profitability report results.

 

In Workcube, costs can be tracked in 3 different currencies.

System Currency: It is defined under Dashboard > System > Period Transactions > Accounting Periods. Indicates the main currency.

If it is USD, it appears as net cost (USD), additional cost (USD), and total cost (USD) on the product cost page.

System 2. Currency: It is defined under Dashboard > System > Period Transactions > Accounting Periods. It is the currency that is different from the main currency.

It is recommended that it is selected at the beginning of the period and not changed, as updating it during the period may cause inconsistent entries.

If it is EUR, it appears as net cost (EUR), additional cost (EUR), total cost (EUR) on the product cost page.

Standard Purchase Currency of the Product: It is selected in 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.

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