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 and 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
Hobbs Iron & Metal – Costing Concept
Acctivate’s costing features have been very beneficial because 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. We were initially attracted to Acctivate because of the costing flexibility.
Gene Day, Owner, Hobbs Iron & Metal
DSX Access Systems – Costing Concept
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. The pricing on our products or the cost on our products will fluctuate slightly but it is nice to be able to see that.
Marty Monroe, Controller, DSX Access Systems
Killer Bee Bait – Costing Concept
Acctivate’s landed cost feature allows us to put in any added import costs, cold storage costs, and so forth into our product costs. It’s the only way we’ve been able to obtain landed cost.
Brent Gutierrez, President, Killer Bee Bait
Summertime Potato – Costing Concept
Being in produce, prices are pretty much set by the market, so we’re more focused on the cost savings and Acctivate has allowed us to know exactly what our costs are. Being able to put in the component portion, assign a labor factor, and assign a delivery amount in Acctivate has been tremendous.
Susan DeFazio, Director of Business Processes, Summertime Potato
Ascension Lingerie – Costing Concept
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. The Landed Cost feature just pushed us that much further into being a serious company.
Gabriel Pedre, Senior Director of Operations, Ascension Lingerie
Take Advantage of Advanced Costing with Acctivate Today!
Schedule a live product tour with an expert
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.
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.
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.
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.