By Andy Vitullo on
9/17/2008 1:44 PM
Standard Costs in QAD’s Software at a basic level has five cost elements. Direct costs for a manufactured item will include the rolled up material cost of components, the total value add of direct labor for its components and the direct labor costs associated with the top level item in the bill of material and finally any outside operational costs for the part. These direct costs populate the material, labor and subcontract elements respectively. This leaves the burden element and the overhead element. How should you approach formulation of the cost to these elements.
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By Andy Vitullo on
9/16/2008 12:55 PM
If you are using QAD’s Financial software and you are not using their Fixed Asset Module, perhaps it is time to reconsider this decision. This relatively inexpensive module offers your company the following:
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By Andy Vitullo on
9/15/2008 12:00 PM
Efficiency and Accuracy are two lynchpin concepts accounting department strive for when assessing their ability to provide timely information to their organizations. QAD’s Enterprise Applications has an abundance of functionality when your organization is procuring supply designated as inventory items. When your company procures non-inventory supplies or services, the transaction accuracy in standard QAD Applications will typically trend downward. Your spend in these areas may not be material compared to the supply chain spend, however, inaccurate account coding will ultimately be corrected by the accountants, thereby impacting their efficiency and impacting the timeliness of management financial reporting.
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By Andy Vitullo on
9/9/2008 11:22 AM
Does deployment QAD’s Enhanced Controls assure SOX compliance in an organization? The short answer is no. The long answer is QAD’s Enhanced Controls can assist your organization in building a comprehensive business model to attain SOX compliance.
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By Andy Vitullo on
9/5/2008 12:02 PM
QAD’s Enterprise Applications and earlier versions of MFG/PRO are fundamentally standard costing systems. A majority of manufacturing companies across the globe use standard costing accounting systems. Standard Costs can be defined as budgeted input prices or input quantities. Manufacturing companies typically develop standard costs for their mix of products during their annual budgeting cycle.
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By Andy Vitullo on
9/4/2008 12:33 PM
Companies that own QAD’s ERP Enterprise Applications or previous versions of MFG/PRO have a little know tool for documenting customer collection calls. With no incremental investment, your company can begin documenting their collection calls within the ERP application itself.
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By Andy Vitullo on
9/3/2008 10:05 AM
The budget season is once again upon us. Your company will go through a cycle of estimating what their sales dollars and potential sales volumes will be in the next operating year. Once your Sales numbers are developed then you will be able to calculate your cost of goods sold, your other cost of sales and finally, your selling and general administrative expenses.
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By Andy Vitullo on
8/29/2008 10:10 AM
Standard MFG/PRO functionality allows for inter-entity balancing in the sub-modules of Accounts Payable, Accounts Receivable, Fixed Assets and Inventory. There is no analogous functionality in the general ledger.
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By Andy Vitullo on
8/22/2008 9:51 AM
I recently completed a project focused around financial business processes. One of the focus areas was the Shared Service Accounts Payable department. This organization had reasonable business process definition; however, the ERP system did not align with their specific requirements. The version of QAD MFG/PRO is eb2.1.
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By Andy Vitullo on
8/20/2008 10:56 AM
I attended QAD's Enterprise Financials Training in July 2008. The two week training event focused on General Ledger, Budgeting, and Transaction Processing including AP and AR and the enhanced interface including Excel Integration. As a a financial manager, Certified Public Accountant, a power user, and a business management consultant over the last 15 years, my impression of QAD's MFG/PRO financials would be described as adequate.
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