Costing
Understanding the true cost of every job, product, and project is the foundation of sound budgeting and efficient production. ABW delivers end-to-end visibility across the full production lifecycle — tracking sales orders through work orders, materials into production, variances, and percent-complete progress for accurate billing. The result is sharper planning, stronger operational control, and the confidence to make informed decisions.
Every transaction is valued using the Standard Costs you define, with full auditability through to your General Ledger Journal Entries. This guarantees financial accuracy, complete traceability, and total transparency into how every cost is calculated, recorded, and reported.
"It was my pleasure to work with the team at Info-Power/ABW. We have worked on a few projects, all related to MSSQL migration and data integrations, along with some custom MSSRS reports. Working with their team was an easy process; they were knowledgeable and great to work with, and allowed me to provide the solutions my customers needed. I wouldn’t hesitate to utilize their services again in the future."
Key Features
- Multiple Cost Models
- Material, Labor, and Outside Processing Costs
- Fixed and Variable Burden Costs
- Freight and Miscellaneous Costs
- Low-Level Code Automatically Calculated
Product Costing
Product Costing enables businesses to precisely calculate product costs by leveraging the detailed structure of Bills of Materials and Routings for each product. This robust standard is essential for identifying and analyzing manufacturing variances — driving efficiency and profitability across your operations.
- Maintains Current, Old, and New Cost Versions
- Calculate New Costs Without Affecting Daily Operations
- Basis for Inventory Valuation in Detail
- Supports Inventory & WIP Valuation with General Ledger Comparison
- Detailed Cost of Goods Sold Posting
- Standard, Average, and Actual Costing
Job Costing
Mastering job costing across every Work Order — whether Discrete, Repetitive, Process, Direct, or Indirect — and understanding their associated variances is critical to achieving meaningful operational control.
Key Features
- Every Work Order in ABW is fully tracked
- Material input debits WIP
- Labor performed debits WIP
- Labor rate variances are identified immediately
- Outside processing invoices debit WIP
- Production posting credits WIP and debits Inventory
- Scrap posting credits WIP and debits Scrap Expense
- Cost adjustments affect WIP and the offsetting account you define
- Completed Work Orders are closed and reconciled
- Indirect Work Orders are expensed as they are processed
- All other Work Orders generate a closing variance for analysis
- WIP Inventory Valuation enables you to identify and resolve problems
Key Features
- Project Entry and Setup
- Associate Multiple Sales Orders and Work Orders with a Project
- Group Numbers to Accumulate Costs by Category
- Detail Tracking of All Work Order Transactions by Project and Group Number
- Project Summary Snapshot of Overall Status
- Project Shipping Requests
Project Tracking
Project Tracking seamlessly integrates Sales Orders and Work Orders into a unified project view, giving you meaningful visibility across every stage. Group Numbers allow you to summarize Work Order costs by estimating category, making it easy to monitor progress and control spending at any level of detail.
Reporting
- Sales Orders by Project
- Backlog Detail and Summary by Project
- Invoices by Date by Project
- Unpaid Invoices by Project
- Sales Orders and Work Orders by Project
Percent of Completion
For companies using Progress Billing based on work completed to date, mastering Percent Complete is essential for accurately managing Cost of Goods Sold accruals and ensuring precise Revenue Recognition.
How It Works
- Create the Sales Order and configure it for Progress Billing
- Open the Work Order when ready to manufacture
- Cross-reference the Work Order to the Sales Order and Line Number
- Define the Percent Complete header linking the Sales Order and Work Order
- Set Estimated Cost or Standard Cost as the basis for calculation
- Post Labor and move quantity on the Work Order
- Calculate Percent Complete based on estimated hours and move quantity
- ABW calculates accrued revenue and COGS to date
- ABW creates a Progress Billing for the amount since the last billing
- Complete production on the Work Order
- Ship the Sales Order
- Invoice the Sales Order — previous accruals are automatically reversed
- Ship the Sales Order
- Invoice the Sales Order and Previous Accruals will be Reversed