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Base Cost Centre Mapping

To facilitate basic Accounting functions Ostendo is pre-set with defaults.  This enables any user to ‘Load and Go’ and immediately have information necessary to fully integrate with their existing Accounting System.  Ostendo also allows for a more complex Accounting structure if required.

 

The basic accounting functions are listed here and each is linked to a Cost Centre (Costs Centres are user-maintained via General>Cost Centres).  Cost Centres are then linked to the specific Chart of Accounts structure required by your current Accounting System

 

Accounting Areas        

 

Stock: All Stock across all Warehouses and Locations in your Company’s Inventory is kept against this Cost Centre.  If a Warehouse is allocated a specific Cost Centre then that will be used in preference to this default.

 

Stock Adjustment Variance: Stock Adjustments are ‘received from’ or ‘issued to’ a Cost Centre.  This Cost Centre provides a global place for ‘posting’ the Costs from this function

 

Negative Stock Variance: Stock adjustment variances can occur whenever you receive Stock but the current stock levels are negative.  In this case the Average Cost for the Item is not amended but the difference between the Average Cost and the Cost of this receipt is ‘posted’ to this Cost Centre

 

Revaluation of Stock Variance: Whenever the Stock is re-valued  (Standard Cost or Average Cost) the difference between the old value and the new value is ‘posted’ to this Cost Centre

 

Stock Count Variance: Stock variances (plus or minus) as a result of a Stock Count are ‘posted’ to this Cost Centre. 

 

Stock In Transit: Whenever Stock is moved from one Warehouse to another via the Inventory Transfer routine this Cost Centre will be used for that transfer.

 

Receipt Cost Var: Used if the Inventory Costing method is ‘Standard Costing’.  In that instance this stores the cost difference between the Assembly Order actual Cost and the Standard Cost of the Item.

 

Descriptor Expenses: This is the default Cost Centre used by Descriptors.  It can be amended at Descriptor level to another Cost Centre and made specific to that Descriptor.   This Cost Centre is then used as the ‘allocated’ Cost Centre during Purchase Receipts.

 

Catalogue Expenses: This is the default Cost Centre used by Supplier Catalogue Items.  This Cost Centre is used as the ‘allocated’ Cost Centre during Purchase Receipts.  If a Supplier Catalogue is allocated a specific Cost Centre then that will be used in preference to this default.

 

Warranty Costs: Where a Job Issue has it’s ‘Actual Issue’ allocated to a Charge Style of ‘Warranty’ then the costs are ‘posted’ to this Cost Centre

 

Contract Costs: Where a Job Issue has it’s ‘Actual Issue’ allocated to a Charge Style of ‘Contract’ then the costs are ‘posted’ to this Cost Centre

 

Direct Labour Costs: When an Employee Timesheet Transaction is made then the costs are ‘posted’ to this Cost Centre

 

Fixed Labour Overhead Costs: When an Employee Timesheet Transaction is made then the associated FOH costs - held against the linked Labour Code - are ‘posted’ to this Cost Centre

 

Variable Labour Overhead Costs: When an Employee Timesheet Transaction is made then the associated VOH costs - held against the linked Labour Code - are ‘posted’ to this Cost Centre

 

Purchases Received Not Invoiced: For any Purchase Orders that have been received via the ‘Purchase Order Receipts’ function are held in this Cost Centre until they have been ‘matched’ in the ‘Purchase Order Invoicing’ screen

 

Purchase Price Variance: Purchase Orders received via the ‘Purchase Order Receipts’ function contain a Purchase Price and this is ‘posted’ at that time.  When it is matched against the ‘Purchase Order Invoicing’ there may be a Price difference.  This difference is posted to this Cost Centre. 

 

Creditors: Whenever a Purchase Invoice is received then the amount of that Invoice is ‘posted’ to this Cost Centre. 

 

Assembly Work In Progress: For any Issues (Material, Labour, Descriptors, etc) that have been issued to Work In Progress for an Assembly Order the cost of that issue is ‘posted’ to this Cost Centre.  Note: The cost of the Assembly Order is taken out of this Cost Centre whenever the Assembly Order is received into Inventory

 

Assembly Order Variance: If the Assembly Order has been completed and its status is ‘Closed’ then any subsequent Issues or Bookings to this Order will go direct to this Cost Centre rather than the Assembly Work In Progress Cost Centre.

 

Job Work In Progress: For any Issues (Material, Labour, Descriptors, etc) that have been issued to Work In Progress for a Job Order the cost of that issue is ‘posted’ to this Cost Centre.  Note: The cost of the Job Order is taken out of this Cost Centre whenever the Job Order is Invoiced.

 

Job Cost Of Goods Sold: Any Invoice raised against the Job Order will take the cost of the Invoice out of the ‘Job Work In Progress’ Cost Centre and add it to this Cost Centre.

 

Job Cost Variance: If the Job Order is ‘Closed’ then any subsequent Issues or Bookings to this Order will go direct to this Cost Centre rather than the Job Work In Progress Cost Centre.

 

Job Income: Any Income received that has been applied to a Job Invoice Line will be ‘posted’ to this Cost Centre. 

 

Sales Lines Picked: Whenever a Sales Order Line is ‘Picked’ the cost of that line is moved from the source Cost Centre (Example: ‘Stock’ Cost Centre for Inventory Items) and moved to this Cost Centre.

 

Sales Cost Of Goods Sold: Whenever a Sales Order Line is ‘Invoiced’ the cost of that line is moved from the ‘Sales Line Picked’ Cost Centre to this Cost Centre.

 

Sales Income: Any Income received that has been applied to a Sales Invoice Line will be ‘posted’ to this Cost Centre. 

 

Sales Freight: Any Income received that covers Freight and has been applied to an Invoice will be ‘posted’ to this Cost Centre. 

 

Debtors: Whenever an Invoice (or credit) is raised then the amount of that Invoice is ‘posted’ to this Cost Centre.  Whenever a Deposit or Payments is matched to an Invoice then it is moved from this Cost Centre to the above Sales Invoice, Sales Freight, and Sales tax Cost Centres.

 

Contract Income: Any Income received that has been applied to a Contract Invoice Line will be ‘posted’ to this Cost Centre.  Until it is ‘posted’ the income will reside in the ‘Unapplied Deposits’ or ‘Unapplied Payments’ Cost Centres

 

Deferred Cost Of Goods: The value of any Retention amount raised against a Job Order Invoice will take the cost of the Retention out of the ‘Job Work In Progress’ Cost Centre and add it to this Cost Centre.

 

Deferred Income: This is only used in ‘Progress Claim’ environments that have an Invoicing Schedule where the specific scheduled Invoice has an Accounting Style of ‘Income Deferred’. This provides facility to have this type of Income deferred for future P & L recognition.

 

Deferred Freight: This is only used in ‘Progress Claim’ environments that have an Invoicing Schedule where the specific scheduled Invoice has an Accounting Style of ‘Income Deferred’. This provides facility to have this type of Freight deferred for future P & L recognition

 

Deferred Tax: This is only used in ‘Progress Claim’ environments that have an Invoicing Schedule where the specific scheduled Invoice has an Accounting Style of ‘Income Deferred’. This provides facility to have this type of Tax deferred for future P & L recognition

 

Un-Applied Deposits: Deposits received from a Customer will be ‘posted’ to this Cost Centre.  When they are applied to an Invoice they will be moved to the ‘Sales Income’ Cost Centre

 

Un-Applied Payments: Payments received from a Customer will be ‘posted’ to this Cost Centre.  When they are applied to an Invoice they will be moved to the ‘Sales Income’ Cost Centre

 

Bank: Upon validation that the Payment was banked (Deposit Slip status updated to ‘Banked’ then the amount is transferred from the ‘Undeposited Funds’ Cost Centre and ‘posted’ to this Cost Centre

 

Payment Rounding: If the ‘matched’ payment amount is within a ‘Rounding Tolerance’ entered in that screen then the Payment record status is amended to ‘Fully Applied’.  The actual value of the Rounded amount is ‘posted’ to this Cost Centre,

 

Discounts Given: If a Discount Amount is entered during Payment Matching (Example: ‘Prompt Payment’ discount) then the value of this discount is ‘posted’ to this Cost Centre.

 

Undeposited Funds: If you are using Bank Deposit Slips to bank payment receipts then the initial receipt will be ‘posted’ to this Cost Centre prior to transfer to the Bank Account

 

POS End of Day Variance: Whenever a 'Z' Report is printed from the End Of Day processing in the Point of Sales function than if the Till Balance is at variance to the expected balance then the difference is posted to this Cost Centre 

 

POS Shop Expenses: Whenever a Cash withdrawal or deposit is made within the POS function then the amount Withdrawn/Deposited is held in this Cost Centre

 

Exchange Loss or Gain: Any Loss or Gain made from Foreign Currency Transactions is held in this Cost Centre

 

Assembly Cost Variance: If you are using Standard Costing then the difference between the Standard Cost of the Receipt and the actual WIP Cost of the Item is posted to this Cost Centre

 

Payment Charge: If a Charge has been applied to a Customer Payment (Example:- Credit Card charge) then that charge will be posted to this Cost Centre

 

Buttons

 

Close: This will close the Cost Centre Mapping screen.  If you have any unsaved data then you will be asked if you wish to save it before the screen is closed.

 

Save: This will save the current dates without exiting the screen

 

Cancel: Any changes made to a date since the last time the ‘Save’ Button was pressed will be lost and the dates will revert to it’s pre-change position.