Accountants for Manufacturing Businesses

Accurox

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Manufacturing Businesses Are Unique

Unpicking the Manufacturing Process

What Happens Next

The first consideration is to ensure that you are tracking everything properly. We will get you started on accounting software that will make this easier than it seems.

These are the areas of focus:

  • All transactions, including sales, purchases and loans should be recorded and categorized into the correct ledgers.
  • Establish a clear picture of assets and liabilities and any given point in time.
  • Clarify the cashflow fluidity
  • Inventory tracking

Inventory Tracking & Costing

Inventory Accurox Understands Manufacturing Businesses

At Accurox, we have worked with large and small manufacturing businesses for years and we will bring the skills and knowledge we have acquired to help you find the best solution for you and your business. We work with manufacturing businesses that use or are willing to change over to cloud accounting software. We’ll work with you using an array of costing methods based on what is best suited to your business and finesse things further depending on what areas you want to focus on.

Some of the ways we can look at costing in manufacturing businesses include:

  • Job Order. This costing method tracks your labour and raw materials for each job.
  • Process costing. This costing will work best if you are running a continuous production process delivering the same product.
  • Variable costing is linked to the amount of product that you manufacture.
  • Absorption costing combines all the variables, raw materials, labour, and overheads.

Analysing the Data

  • Identify the bottlenecks that are slowing the process down. Once isolated, we begin to make plans to ease those constraints and increase both productivity and profit.
  • Study your margins to see clearly how much profit you are making on each item you manufacture. Are you wasting time and effort on products that are just not profitable? Should you be expanding on more profitable lines?
  • We highlight the variances in your budgets for each job or product. Are your budgets effective, reflecting accurately your real costs of producing it? We will be able to isolate those variances so you can refine your budgets going forward and improve the bottom line.

Inventory Tracking & Costing

Want to know more about how Accurox can help your business improve it’s cashflow? We’d love to hear from you!

Get In Touch

We’d love to help you.

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