Tracking Product Costs

In Aptify, each Products record includes several cost related tabs that lets an organization track the various expenses incurred with getting a product to market. This includes a Cost Planning tab that can be used for planning the overall forecast of a given cost, a Cost Details tab that stores the details of each cost and a Cost Summary tab that displays useful summary statistics for a given product's expenses. These tabs are found under the Products record's Accounting tab. The following figure is an example of the Cost Summary tab that displays summary information about the expenses for a product by cost type.

For product cost tracking, Aptify also provides the ability to transfer the cost data from Aptify to an Accounts Payable (AP) system. Then, after the accounting department processes the product cost information within the AP system and prints the checks, a user can import the applicable check numbers back into Aptify. See Integrating with an Accounts Payable System for more details.

Note that this information should not be confused with Unit Cost, which is tracked within Product Inventory Ledger Entries. See Managing Inventory for Products for more information on tracking inventory and unit cost.

This section covers the following topics related to tracking product costs within Aptify:

• Creating Product Cost Types
• Creating Cost Planning Records for Products
• Creating Product Cost Details