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Dynamics 365 Community / Forums / Finance | Project Operations, Human Resources, ... / Benefit of cost accoun...
Finance | Project Operations, Human Resources, ...
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Benefit of cost accounting module

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Posted on by Community member 2
Hi all,
 
as I don't have any experience with the cost accounting module I wanted to ask here if anyone uses it and could explain briefly what the big additional benefits are compared to the usual finance modules. I've read that it would be suitable if I wanted to allocate/distribute costs and also in the production context, but besides that?
 
 
  • Verified answer
    Kevin Xia Profile Picture
    Kevin Xia Microsoft Employee on at
    Benefit of cost accounting module
    Hi,
    Cost accounting lets you collect data from various sources, such as the general ledger, subledgers, budgets, and statistical information. You can then analyze, summarize, and evaluate cost data so that management can make the best possible decisions for price updates, budgets, cost control, and so on. You can refer to this official documentation: Cost accounting home page - Finance | Dynamics 365 | Microsoft Learn.
    Best regards,
    Kevin
  • Verified answer
    Hana Xue Profile Picture
    Hana Xue Microsoft Employee on at
    Benefit of cost accounting module
    Hi,
    The Costing module is a separate menu item in Dynamics 365 for evaluating costing at a higher level.
    Cost accounting allows detailed analysis of costs across different dimensions such as department, product, project or process. Cost accounting provides tools for monitoring and controlling costs across an organization. Budgeting, variance analysis, and cost tracking capabilities help ensure costs are managed effectively and aligned with organizational goals. For organizations with multiple legal entities or departments, Costing supports allocating costs across entities.
    It gets data from all sides: but it has its own data mart! No matter how hard you try at cost accounting, it won't hurt your financial transactions. No new transaction record is written back - it remains in the Costing data mart.
    You can also check out the links below to learn about the benefits of cost accounting:
    www.linkedin.com
    https://axcademy.com/2018/09/16/cost-accounting-in-microsoft-dynamics-365-for-finance-and-operations/
    Best Regards,
    ​​​​​​​Hana
  • Verified answer
    BillurSamdancioglu Profile Picture
    BillurSamdancioglu 17,153 Most Valuable Professional on at
    Benefit of cost accounting module

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