Costing Report

 

WizCount can be used for Costing Management by Profit Centers. To open Costing Codes, go to: Accounting> Costing Codes. There are two types of Costing Codes: Profit Centers and Overhead Costs & Indirect Income. You can enter a Costing Code for each Journal Entry. The software sums the direct income and expenses of the Profit Centers, and splits the Overhead Costs and Indirect Income among the Profit Centers according to the Split Code preset for each Overhead Cost and Indirect Income. This report lists both the direct income and expenses and the splitting of indirect income and costs.

Cost Center /Indirect Expenses: These two sections allow you to limit the Costing Codes in the report. Note: Although the section is called “Indirect Expenses“, the filtering also refers to indirect Income. Limiting the Costing Codes is made according to the Code and Filtering that were set while opening the Costing Codes. You can return to the Costing Code records and modify the filtering (or any other data) as needed.

Sorting income account / Sorting of expense account: These records are where the Sort Codes (or Filtering) of Income Cards and Expense Cards should be entered. The Costing calculation should only apply to income and expense transactions, because the calculation should show the profit to the Profit Center. Therefore, the Main Account of these cards should be: Expenses/Income.

Accounting Transactions Filtering: These sections allow you to determine the Filtering of Journal Entries in the report.

Header: This section allows you to restrict Journal Entries by their serial number. WizCount runs two sets of serial numbers – one for the Journal Entry Headers, and another for the Accounts and Amounts within the journal entries. For example, when a journal transaction is recorded for an invoice, a single Header is recorded containing the tax invoice data, including the Total Amount and Main Accounts. In addition, the following three transactions are recorded: Debit transaction for the customer account, Credit transaction for the Income Account and Credit transaction for the VAT account. The Costing Code is only recorded at the Header level, therefore only the Header number can be limited.

Transaction Type: The Transaction Type Code recorded in the Journal Entry.

Reference Date / Due Date / Date 3: A Journal Entry contains three date fields. In these records, transactions may be limited by dates.

Quantity: The quantity entered in the Quantity field in the Journal Entry.

Currency: The currency code of the transaction.

Reference / Reference 2 / Reference 3: A Journal Transaction contains 3 reference fields. Use these records to limit transactions by Reference Numbers.

Details: In this section, transactions can be filtered by information found in the Details field of the journal transaction. You can set the Filtering using the From-To fields in order to include only Journal Entries beginning with certain characters (e.g. From: Branch 1, To: Branch 5) or set the Filtering using the Includes operator, if you want the report to include all the transactions containing certain characters anywhere in the Details field (e.g. all transactions that contain the characters “Branch 3” anywhere in the Details field). When searching for transactions by a partial value (e.g. “3”) an asterisk (*) must be added before and after the search value.

Rate Differentials Transactions: Rate differentials transactions are transactions that revaluate the NIS balance into a foreign exchange balance. This section allows you to decide whether these transactions are added to the income and expenses transactions.

 

 

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