Cost Management
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. It can also be defined as the sacrifice made in order to produce goods or services.
Monitoring product costs is a very important issue for businesses. Tracking direct and indirect costs allows businesses to accurately track their profitability rates.
In order to better monitor unit and total costs in all departments of your business, make better planning in your purchasing-sales processes and similar works, you must have made the settings and definitions of costs completely and properly in Workcube. However, after healthy definitions, the cost function starts to work, that is, it starts recording costs and cost - profitability reports give healthy results.
In Workcube, costs can be tracked in 3 different currencies.
System Currency: Path: It is defined under Control Panel > System > Period Transactions > Accounting Periods. It refers to the main currency.
TL appears on the product cost page as net cost (TL), additional cost (TL), total cost (TL).
System 2nd Currency: Path: It is defined under Control Panel > System > Period Transactions > Accounting Periods. It is the selected currency, different from the main currency.
It is recommended to select it at the beginning of the period and not change it, as updating it during the period may cause inconsistent records.
USD appears on the product cost page as net cost (USD), additional cost (USD), total cost (USD).
Standard Purchase Currency of the Product: Path: 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.