Work In Progress

Navigating Job Costing Brilliance: Aquilon’s Work-in-Progress Module

Elevating Job Costing: Aquilon’s Work in Progress

Aquilon’s Work in Progress (WIP) Module, akin to Job Costing, is your compass for meticulous job tracking. A dynamic tool that seamlessly integrates with the General Ledger, this module elevates your project management, meticulously capturing material and time details for each job.

Fusing Value into Your Ledger

Aquilon’s WIP Module isn’t just a standalone entity—it’s interwoven into your General Ledger, becoming an asset account that’s as strategic as it is practical. This module powers your financial accuracy with each material issuance, labor record, and expense allocation.

Seamless Material and Labor Tracking

As jobs progress, so does the accumulation of material and time. Aquilon’s module ensures a smooth process, deducting material from inventory as it’s issued and recording costs in WIP. Labor and overhead values are seamlessly recovered in your General Ledger.

Multiple Ways to Build, Issue and Receive

Flexibility is paramount in job costing. Aquilon’s WIP Module offers various avenues for material and time issuance:

• Backflushing: For quick turnaround items that have very little variance
• Direct Issue: Directly allocate and issue material to a job, with costs flowing into WIP.
• Bill of Materials (BOM) – Kit Issue to the job: Leverage BOM for accurate material issuance according to job requirements.
• Time Sheet Entry: Employees record their actual time against a job, with costs seamlessly feeding into WIP.
• Bill of Labor (BOL) – Kit Issue to the job: Allocate labor costs based on the predetermined rates, with WIP capturing the expense.
• Overhead Allocation: Allocate overhead costs based on predetermined rates, enriching WIP with expense details.

Unleashing Financial Accuracy

The fusion of WIP with your General Ledger guarantees financial accuracy and up-to-date insights. With Aquilon’s module, your job costing becomes a well-tuned engine, ensuring precision at every stage.

Empowering Flexibility and Efficiency

Aquilon’s Work in Progress Module isn’t confined to one path—it offers several paths to record production. From material and labor tracking to expense allocations, it’s a dynamic solution designed to accommodate the intricacies of job costing.

In Summary

Aquilon’s Work in Progress Module isn’t just about tracking—it’s about empowerment. Seamlessly merging material, time, and expense tracking with the General Ledger, it’s a catalyst for job costing mastery.