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> Partners in Manufacturing Success! Made2Manage > Made2Manage ®: Focus on Financials
Made2Manage ®: Focus on Financials |  | |
Made2Manage ® financials are designed to give you up to the minute status of your companies financial health. Combined with good order costing practices Made2Manage ® should help you understand where your profitable product lines are, and to identify the areas that need management focus. Here we'll discuss Best Practices, Common Problems and some Little Known Facts that should help you improve your financial reporting interface with Made2Manage ®
Common Signs of Trouble
- Using Excel for Financial Reporting.
- Revenues & Cost of Goods Sold don't appear to align correctly.
- Unexplained Variances.
- Receivables & Payables are out of balance with respective aging reports.
- Accrued Payroll, Received Goods not Invoiced and Buy/Resell accounts have "excessive" balances.
Common Causes!
- Improper Company set-ups.
- Product Class set-up not mapped properly.
- Accounts Payable Invoicing Processes incorrect.
- Chart of Accouunts classification not consistent with Reporting needs.
Best Practices: The Keys to Success!
- A well defined policy and process for updating standard costs.
- Daily reconciliation of transactional accounts!
- An integrated implementation across all modules.
- Regular Job Order Closings.
- Variance analysis and corrective action.
Users that follow these simple "Best Practices" close clean, close accurate and close in ONE day!
Did You Know?
- Made2Manage ® has a full budget module.
- Multiple Company consolidations are part of the Made2Manage ® standard functionality.
- You can change to look, feel and detail of your financial reports without purchasing FRX or some other "bolt-on" module using G/L Reports.
- More companies are using credit cards to consolidate their purchases and A/P processing times.
For more on this and other topics, contact us at (860)989-5981 or visit our website at http://manufacturingsolutionscg.com
Made2Manage ® is a trademark of Made2Manage Systems, Inc. Manufacturing Solutions Consulting Group,LLC. in not connected or affiliated with Made2Manage Systems, Inc. in any way.
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