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Tracking Costs
Benefits
Ventipix Asset & Inventory Manager platform enables a business to track costs involved with many aspects of procurement, maintenance, and disposal of its assets or inventory.
Cost tracking can help keep a business’ costs under control by identifying many areas where expenses are incurred and can often get overlooked.
Costing data can be captured from both the browser and the smartphone app. This also includes images/photos of receipts, invoices, etc.
Getting Started
You can capture costs for different sections of the platform, namely assets, inventories, deliveries, and work in progress (WIP).
Once you have determined the section you plan to use, and have data on those sections, the next step is to create cost categories e.g, logistics, and cost types e.g, fixed or variable, then indicate how the costs should be reflected on the section’s records and their impact.
You can create multiple categories, each with a different costing impact behavior.
On a section’s record, you would need to create a field that captures the total costs over time. This field gets manipulated either by increments, deductions or overwrites. In essence, you can have a field that captures costs as expenses only e.g for maintenance services, and another that captures costs as acquisitions e.g for purchases.
Cost tracking for assets
With assets, you can capture costs such as purchases, transportation, installation, maintenance, etc.
Cost tracking for inventory
With inventory, you can capture costs such as ordering, deliveries, storage, damages/spoilage, etc.
Cost tracking for deliveries
With deliveries, you can capture costs such as fuel, labor, etc.
Cost tracking for WIP
With WIP, you can capture costs such as labor, materials, etc.
What next?
As you update the costings for the respective sections, the Manage Costings section of the platform will show an aggregate cost of each cost category.
You can also view the history of all the costs including a breakdown of each cost type and export or view reports.