Advanced Cost Methods for Every Business

Watch a quick
demo here

Watch a quick demo here

Acctivate’s Advanced Cost Method options offer flexible inventory cost tracking and control across your entire business.

5 Cost Methods to choose from

Acctivate offers Average, Standard, FIFO, LIFO, and Specific Identity Cost Methods.

Assign cost method by product

Select which cost method is right for each product/item in your inventory.

Costing by serial & lot numbered items

Tie purchase and added costs to a unique product by serial number or a group of products by lot number.

FIFO / LIFO Layer Management

Control COGS & gain clear insight into the cost layers of each product by using or selling the oldest or recently purchased inventory first.

Landed cost support

Take added costs accumulated along the procurement process and land them into the related shipment or products.

costing by warehouse

Manage and track cost at the warehouse level for better cost analysis and reporting.

Hear it from Acctivate users

We were initially attracted to Acctivate because of the costing flexibility. It lets us know more closely where we stand on the costing of our inventory and the true cost of it from an accounting perspective.”

Gene Day

Owner
Hobbs Iron & Metal

I use Acctivate from the costing side so we can see how to price things. It’s nice to see what we do from week to week depending on the price of the particular raw components.”

Marty Monroe

Controller
DSX Access Systems

Now with Acctivate, not only is our landed cost more accurate, but so is our reporting on actual profitability, gross profit margin, net margins, and even in the potential profitability from possible offers or new business partners.

Gabriel Pedre

Senior Director of Operations
Ascension Lingerie

Get a Live Demo

We will walk you through a demo of Acctivate Inventory Software. See Acctivate in action and how it can free your business of unnecessary obstacles and provide a clear view of growth and success.

Get Started

Call us at 817-870-1311

Selecting a cost method

Choose the Right Cost Method at the Product Level

Not all products or items are the same, so you should expect that your cost method will vary too.

Acctivate offers 5 different options for tracking your inventory cost including, average, LIFO, FIFO, standard and specific-identity.

The best part? Acctivate allows you to select the cost method for each new product you create, allowing you to isolate inventory cost based on product attributes and use-case.

FIFO/LIFO Layers

See Full Visibility of FIFO and LIFO Cost Layers

Using FIFO (First-In, First Out) and LIFO (Last-In, First Out) cost methods offer the ability to control COGS by utilizing the oldest or most recent cost incurred for a product.

This type of cost accounting can be advantageous for some businesses, and for those Acctivate allows you maximum visibility of the cost layers for each product.

*It’s important to note, this type of cost accounting carries strict IRS rules, and you should always consult your CPA before choosing one of these cost methods.

Cost by lot/serial number

Precise, Granular Costing at the Lot & Serial Number Level

Accurately capture Cost of Goods Sold with the ability to associate multiple costs to the different lot and serial numbers of a single product.

Unique unit costs can be tied to each individual serial number and lot number, which are defined upon inventory receipt and remain tied to the serialized or lot controlled product when they are sold.

landed cost

Calculate True Cost of Goods Sold by Automatically Capturing All Additional Costs

Know the true inventory valuation of all products by having additional costs beyond the purchase price (i.e., duties, taxes, VAT, government fees, customs, freight, insurance, etc.) accurately allocated across one or more transactions based on quantity, value or weight of a product.

Landed cost can be figured at any point, whether the costs are known at the time of receipt of the goods, or afterwards.

With landed cost attributed correctly, businesses can make informed decisions concerning product sourcing & profitability.