Did You Know?: Costing tips

With Summit 2019 in just a few days we thought it be would fun to share a sneak peek into some of the great learnings we’ll be sharing in our breakout sessions. If you’re interested in costing or cost accounting, you won’t want to miss these two sessions that Amanda Mayer is leading during the week:

FIN66 - What's in a Costing Method? Options and Impacts

Wednesday, 10/16

9:45 - 10:45

FIN51 - Cost Accounting Setup and Benefits

Friday, 10/18

8:30 - 9:30

If you find costing a challenging topic in NAV or BC, you’re far from alone!  Summit is a great place to get those pesky questions answered and hear how your peers approach their costing “opportunities”.  To whet your appetite, here are a few Did You Know teasers from her session.

1. Capitalized costs can include more than just your purchased inventory costs. Include things like freight and other transportation costs.
2. Costing Methods are selected by Item. That means you can define your costing by the type of item, not just apply the same method regardless of whether it makes sense for that item.
3. Changing your costing methods down the road is difficult, and often why a company will re-implement. Selecting the right method early will help prevent headaches later.

We look forward to seeing you at Summit!