by Tim Dodge | Aug 4, 2023 | Account Receivables
What is an Invoice in SimpleManufacturing™? An Invoice is a legal statement of monies owed to a business for products or services rendered. An unpaid Invoice with a remaining balance due amount is considered an Account Receivable. Unpaid Invoices increase the Account...
by Tim Dodge | Aug 1, 2023 | Account Receivables
What is an Account Receivable? The amount of money owed to the company from 3rd Parties for goods or services already rendered, and not yet paid for, is considered Account Receivables (AR). On the Balance Sheet, Account Receivables are listed as a Current Asset...
by Tim Dodge | Jul 28, 2023 | Accounts Payable
Payment of Bills The process of identifying what Bills to pay can be a daunting task. SimpleManufacturing™ simplifies this process by offering various accounts payable reports and three payment methods. Furthermore, SimpleManufacturing™ includes standard payment...
by Tim Dodge | Jul 13, 2023 | Accounts Payable
What is an Account Payabale, specifically a Bill in SimpleManufacturing™? A Bill is a statement of charges, typically from a supplier. An unpaid Bill is considered an Account Payable as it is a liability to the business. Purpose of a Bill? A Bill is used to identify a...
by Tim Dodge | Jun 7, 2023 | Accounting
What is Purchase Price Variance? Purchase Price Variance (PPV) is the difference between the Unit Price paid for a specific item within a purchase order line item and the “Standard Cost” of that item. An Item “Standard Cost” is typically...
by Tim Dodge | Feb 21, 2023 | Work Order Management
Work Order Overview Work order, job order, work request, service request, or shop order has numerous meanings and applications. The general definition of a Work Order is found here. For ERP Software, this is best defined as an order to the shop to perform an activity....
by Tim Dodge | Feb 5, 2023 | Inventory Management
What Is Inventory Management? Inventory management is a process that identifies the inventory that is needed and how much is required to fulfill current and forecasted demands. Therefore, this is a crucial process because too much inventory ties up cash and too little...
by Tim Dodge | Jan 29, 2023 | Item Master
What is an Item Master? An item master is a list of unique item numbers for all the material purchased, items included within a product, or items used within the manufacturing of an item such as equipment. Furthermore, how it is used, what it will contain and who...
by Tim Dodge | Jan 25, 2023 | Order Management
What is ERP Customer Order Management Software? Order management starts when a customer places an order and ends once they received their product or service. An ERP software with customer order management not only improves order fulfillment but also improves customer...
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