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The worldwide economic crisis is forcing small and medium companies to review their targets as well as their internal processes because of sudden changes.
Cost accounting, known also as industrial accounting, is a basic tool to provide a “management control” necessary to plan company’s strategies. Managers of small and medium companies know that analyzing accounting data, for example balances, could not be enough, but they also know that investing in cost accounting could be onerous. Now more than ever, investing in management control is necessary for dealing with the changeable moment in order to improve company’s strategies, not only to analyze costs.
Analysis and Controlling module of Mago.net could be the first step to mark a turning point in company’s activity and to improve performances. The module offers an easy, full and flexible solution to monitor company’s activities having economic relevance.
Those people who are already using the module know that, after setting the work methodology at the beginning, such as cost center definition and spreading templates, analytical entries are automatically generated by sales and purchases documents, by accounting documents, by fixed assets entries and by inventory entries.
As an effective management control is reached by analyzing variances between budget and actual amount, the analysis of actual amounts only is not enough. For this reason it is of primary importance to post budget analytical entries, that can also be copied from the previous fiscal year or that can be manually posted for each analytical account.
Perhaps not everyone knows that… the manual posting of budget analytical entries can be facilitated by a special function that generates rows in order to spread amounts by month/quarter/six-month period. This is also useful to all reports that analyze monthly variances.
For further information about this topic, please contact your reseller referral. In addition, if you are a M.L.U. subscriber, you can follow lesson 5 of Mago.net PRO – Analysis & Controlling course, and you can visit our on-line Microarea Help & Information Center.
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