Far from being a month-end or year-end activity, manufacturing accounting is vital to the day-by-day and even hour-by-hour business activities for a manufacturer. Manufacturing accounts are a quick indication of profitability, productivity, and efficiency that can make or break a company on ever-eroding margins.
6Wands understands the opportunities and challenges in the manufacturing industry and the importance of close monitoring, automation, and reporting for different stakeholders.
What Is Manufacturing Accounting?
Manufacturing accounting is the software, processes, and monitoring required to continually assess processes, materials, and true cost. These accounting processes are specific to the manufacturing industry, as there's a focus on improving profit margins throughout the process of creating the product, as well as for the sale of the product.
Lean manufacturing and the tightening of margins makes cost accounting to analyse financial performance crucial. At 6Wands, we’re qualified and experienced with manufacturing accounting and can work side-by-side with your business to achieve your growth and profit goals.
Manufacturing Accounts Software
To be able to dive into the details and provide a real-time view, 6Wands has dedicated manufacturing accounts software partners that can capture data and produce reports for multiple stakeholders. The agility the manufacturing accounts software can bring to a company enables the business to make critical decisions quickly and confidently.
We discover the best manufacturing accounts software and learn the top methods for implementing them on behalf of our clients. It's a simple to decision to trust 6Wands with your manufacturing accounts, get in touch and you'll see how our services optimise your business.
Manufacturing Accounting Inventory
There are several types of manufacturing accounts to manage when it comes to inventory. This includes raw materials, in-process stock and the finished goods. Manufacturing accounting has the capabilities to track the stock through each stage of the production processes.
At 6Wands, we can ensure your stock is accurately and efficiently maintained for your company. The team tailors our manufacturing accounting services to fit the needs for each individual client.
Benefits Of Manufacturing Accounting
The benefits of manufacturing accounting is that it boosts the efficiency of businesses, tracks their finances and enables businesses to easily consider plans for the future based on their current situation. It creates a holistic view of the company with a thorough analysis of past and present data.
With an accurate view on spending, profits and inventory, a company can optimise their processes and develop new strategies for increasing their profits, through utilising the information gathered in the manufacturing accounts report. By choosing 6Wands to provide your manufacturing accounting services, you can turn your focus on your business while the experts track the costs and guide you to maximising profits.
Manufacturing Accounting Testimonial
6Wands works with manufacturers across the UK providing manufacturing accounts, and here are some of the kinds words we’ve received:
“Right from early on we could see the vast difference in improving our business.
The day to day running became a lot easier, things we didn't know about or were unaware of to help aid the business, we got that information from 6Wands. The workload as it increased for us, she took over the bookkeeping and other services she offered and lightened our load.
She helped us manage through getting money offset through our end of year Tax. I would recommend 6Wands 100%, as she has over 20 years of experience working in the manufacturing industry.” Bespoke Fabrications Company - Manufacturing