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Manufacturing Accounting Systems


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NetSuite logo
 
NetSuite Manufacturing Edition offers an integrated inventory, warehouse management, accounting and financial management, order management, customer relationship management (CRM), and e-commerce platform. Offered as a cloud-based solution... Read More
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NetSuite Manufacturing Edition offers an integrated inventory, warehouse management, accounting and financial management, order management, customer relationship management (CRM), and e-commerce platform. Offered as a cloud-based solution... Read More
 
Fishbowl Manufacturing logo
 
Fishbowl Manufacturing is a business automation and inventory management platform for small to mid-sized. It integrates with QuickBooks accounting. Fishbowl offers inventory control, material requirements planning (MRP) and job shop... Read More
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Fishbowl Manufacturing is a business automation and inventory management platform for small to mid-sized. It integrates with QuickBooks accounting. Fishbowl offers inventory control, material requirements planning (MRP) and job shop... Read More
 
ECi M1 logo
 
ECi M1 is a complete on-premise enterprise resource planning (ERP) system that automates financials, inventory, production, sales/quoting, and production planning. The software is designed to meet the requirements of small to midsize... Read More
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ECi M1 is a complete on-premise enterprise resource planning (ERP) system that automates financials, inventory, production, sales/quoting, and production planning. The software is designed to meet the requirements of small to midsize... Read More
 
Global Shop Solutions logo
 
Global Shop Solutions offers a One-System ERP software to serve clients across manufacturing industries of all sizes. The multi-modular application comprises of independent modules for customer relationship management, inventory management,... Read More
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Global Shop Solutions offers a One-System ERP software to serve clients across manufacturing industries of all sizes. The multi-modular application comprises of independent modules for customer relationship management, inventory management,... Read More
 
Infor VISUAL ERP logo
 
Infor VISUAL is an Enterprise Resource Planning (ERP) System with end-to-end functionality built for manufacturing organizations looking for a complete solution that supports the entire operational lifecycle, from planning to sourcing,... Read More
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Infor VISUAL is an Enterprise Resource Planning (ERP) System with end-to-end functionality built for manufacturing organizations looking for a complete solution that supports the entire operational lifecycle, from planning to sourcing,... Read More

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E2 Shop System logo
 
E2 by Shoptech Corporation brings all business operations into a single simple solution, from estimating to scheduling, purchasing, shipping and even customer management and accounting, with its easy-to-use solution. Designed specifically... Read More
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E2 by Shoptech Corporation brings all business operations into a single simple solution, from estimating to scheduling, purchasing, shipping and even customer management and accounting, with its easy-to-use solution. Designed specifically... Read More
 
JobBOSS logo
 
JobBOSS is an enterprise resource planning (ERP) built for small and midsize manufacturers in North America. It allows key office and production staff to manage job information day-to-day to aid customer service and on-time deliveries.... Read More
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JobBOSS is an enterprise resource planning (ERP) built for small and midsize manufacturers in North America. It allows key office and production staff to manage job information day-to-day to aid customer service and on-time deliveries.... Read More
 
IQMS MES Software logo
 
IQMS’ flagship product, EnterpriseIQ ERP, is developed specifically for SMB and large discrete, and batch process manufacturers in the aerospace, medical device, automotive, food and beverage, consumer products, plastics, packaging... Read More
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IQMS’ flagship product, EnterpriseIQ ERP, is developed specifically for SMB and large discrete, and batch process manufacturers in the aerospace, medical device, automotive, food and beverage, consumer products, plastics, packaging... Read More
 
TrueERP logo
 
True ERP is a fully integrated and customizable business management system for organizations of all sizes. Serving thousands of customers worldwide for two decades, True ERP helps reduce company costs and data entry while increasing... Read More
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True ERP is a fully integrated and customizable business management system for organizations of all sizes. Serving thousands of customers worldwide for two decades, True ERP helps reduce company costs and data entry while increasing... Read More
 
SYSPRO logo
 
SYSPRO offers Enterprise Resource Planning software to support the control, integration, and synchronization of the life of the manufacturing process for both short and long production runs. Implementing SYSPRO is made simple with... Read More
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SYSPRO offers Enterprise Resource Planning software to support the control, integration, and synchronization of the life of the manufacturing process for both short and long production runs. Implementing SYSPRO is made simple with... Read More

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Henning Visual EstiTrack ERP logo
 
Visual EstiTrack ERP is an on-premise solution for small to midsize shops that offers manufacturing execution management, light material requirements planning, product lifecycle management, supply chain management, customer management,... Read More
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Visual EstiTrack ERP is an on-premise solution for small to midsize shops that offers manufacturing execution management, light material requirements planning, product lifecycle management, supply chain management, customer management,... Read More
 
ProfitKey ERP logo
 
With over 30 years of experience in the ERP and Manufacturing markets, ProfitKey International has developed Rapid Response Manufacturing (RRM) to provide a fully integrated ERP and MES solution for small to mid-size manufacturers.... Read More
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With over 30 years of experience in the ERP and Manufacturing markets, ProfitKey International has developed Rapid Response Manufacturing (RRM) to provide a fully integrated ERP and MES solution for small to mid-size manufacturers.... Read More
 
KeyedIn Manufacturing logo
 
KeyedIn Manufacturing is a cloud-based enterprise resource planning (ERP) solution specifically designed for custom, make-to-order and mixed-mode manufacturers. The solution offers manufacturers a solution that can be customized to... Read More
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KeyedIn Manufacturing is a cloud-based enterprise resource planning (ERP) solution specifically designed for custom, make-to-order and mixed-mode manufacturers. The solution offers manufacturers a solution that can be customized to... Read More
 
MIE Trak PRO logo
 
MIE Trak Pro is an ERP offering that is ideal for manufacturing businesses with modules designed to accommodate most production cycles and optimize the capabilities of repetitive, custom, quick-turn and mixed mode operations. MIE... Read More
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MIE Trak Pro is an ERP offering that is ideal for manufacturing businesses with modules designed to accommodate most production cycles and optimize the capabilities of repetitive, custom, quick-turn and mixed mode operations. MIE... Read More
 
EVO~ERP logo
 
EVO~ERP was first introduced to the market in 2004 as a fully integrated, real-world business solution, providing an organizational, financial management, and business intelligence platform from which companies can revolutionize their... Read More
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EVO~ERP was first introduced to the market in 2004 as a fully integrated, real-world business solution, providing an organizational, financial management, and business intelligence platform from which companies can revolutionize their... Read More

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OptiProERP logo
 
OptiProERP is a cloud-based enterprise resource planning (ERP) solution for small and midsize discrete manufacturers and distributors. Key features include supply chain management (SCM), purchasing, work orders, scheduling and quality... Read More
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OptiProERP is a cloud-based enterprise resource planning (ERP) solution for small and midsize discrete manufacturers and distributors. Key features include supply chain management (SCM), purchasing, work orders, scheduling and quality... Read More
 
Datacor Chempax logo
 
Chempax by Datacor is an integrated enterprise resource planning (ERP) and customer relationship management (CRM) application designed specifically for chemical process manufacturers and distributors. The solution can be scaled to... Read More
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Chempax by Datacor is an integrated enterprise resource planning (ERP) and customer relationship management (CRM) application designed specifically for chemical process manufacturers and distributors. The solution can be scaled to... Read More
 
Priority logo
 
Priority is an enterprise resource planning (ERP) solution that is suitable for midsize to large businesses in many industry segments, including manufacturing, apparel, electronics, food and beverage, industrial machinery and more. Priority’s... Read More
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Priority is an enterprise resource planning (ERP) solution that is suitable for midsize to large businesses in many industry segments, including manufacturing, apparel, electronics, food and beverage, industrial machinery and more. Priority’s... Read More
 
Infor SyteLine ERP logo
 
Infor SyteLine ERP is a mixed-mode application for engineer-to-order, configure-to-order, repetitive and service-based manufacturers. It’s suitable for companies in industries such as aerospace, metal fabrication, plastics and rubber... Read More
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Infor SyteLine ERP is a mixed-mode application for engineer-to-order, configure-to-order, repetitive and service-based manufacturers. It’s suitable for companies in industries such as aerospace, metal fabrication, plastics and rubber... Read More
 
SAP Business One logo
 
SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve small to midsize businesses. SAP Business One is used to address the needs of many industry verticals including manufacturing,... Read More
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SAP Business One is an integrated enterprise resource planning (ERP) software suite designed primarily to serve small to midsize businesses. SAP Business One is used to address the needs of many industry verticals including manufacturing,... Read More

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Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: September 27, 2017


Every company has basic accounting needs, such as general ledger, accounts payable, accounts receivable, inventory and payroll. Accounting for manufacturing companies carries additional requirements. For example, it's important to have features to support job costing, work-in-progress (WIP) reports, change orders and job payroll tracking. However, the market for these systems is complex due to consolidation, new entrants and the increasing demands of enterprise resource planning (ERP) systems. We wrote this buyer’s guide to untangle the web of this technology.

Here’s what we’ll cover:

What Is Manufacturing Accounting Software?
What Type of Buyer Are You?
Benefits and Potential Issues
Market Trends to Understand
The Vendor Landscape

What Is Manufacturing Accounting Software?

Manufacturing accounting software manages all of the financial transactions and operations for manufacturers. Generic programs, such as manufacturing software for Quickbooks, don't have the unique capabilities that manufacturers require.

Additional features found in accounting software for manufacturers include support for sales orders, purchase orders, change orders and work-in-progress (WIP) reports. For engineer-to-order and make-to-order manufacturers, job costing modules are especially beneficial. These modules help manufacturers track actual project costs by materials, equipment and labor, and determine cost differentials by comparing actual costs to estimated costs.

Most systems are offered in a suite of modules that include customer relationship management (CRM), material requirements planning (MRP) and manufacturing execution software (MES). This complete suite of modules is often referred to as an enterprise resource planning (ERP) system and can manage the entire operations of an enterprise. 

Beyond standard accounting modules like accounts payable, accounts receivable and general ledger, a manufacturing accounting system will have additional features such as:

  • Raw material costing. Allows users to project current and future costs for raw materials based on historical data.
  • Bill of materials. Allows users to calculate total costs for assemblies and subassemblies, with parts and materials lists.
  • Purchasing. Allows users to track inventory and automatically place orders for raw materials when quantities reach a threshold set by the user.

It is this integration with other modules that is a key difference between a generic system and manufacturing accounting programs. For example, inventory requirements determined by the MRP system pass through to the inventory system to check availability, then to the procurement system to create a purchase order, and on to the accounts payable system for payment. The MES system tracks workers time on projects and reports that information to the payroll systems.

Most accounting systems manufacturing firms use is still installed on-premise. In a production environment the workstations are networked, usually with a mix of wired and wireless connections. One of the cost justifications for cloud-based systems is the reduced cost for infrastructure, but that is often offset by the added networking infrastructure requirements of the environment. Even so, cloud-based accounting software for manufacturing company support has long-term business benefits. While the shop floor needs a network, it does not necessarily need to have servers. With the server in the cloud, the facility does not have to have staff to maintain it or back it up.

What Type of Buyer Are You?

It is the “manufacturing” part of manufacturing accounting systems that is hard. Buyers need to match the enhanced functions to shop floor needs. Over 90 percent of buyers fall into one of these three groups:

Enterprise resource planning suite buyer. These buyers value the seamless integration of data and processes that comes from having one system for all functions. For example, they prefer a full-suite system for estimating, work-in-progress management and accounting that can automatically turn an estimate into a budget for project management, and then match invoices to project status and allocate job costs. These buyers favor integrated suites like Oracle, SAP, Sage ERP or Microsoft Dynamics.

Specialist buyer. Specialists in one function, such as job costing or inventory management, may value the feature depth of best-of-breed solutions designed for their function. These buyers may need specific functionality, like the ability to interface with an MRP system.

Small manufacturer. Small organizations often have limited budgets and fewer IT resources to dedicate to a system. They may be deciding between a new system and a new piece of equipment. These buyers need cost-effective tools that are easy to implement and use. Some will prefer full-suite systems, while others may just want one application, such as bill-of-materials production or shop equipment scheduling operations. These buyers typically prefer to use a small accounting software package such as Quickbooks or Peachtree. 

Benefits and Potential Issues

There must be specific benefits to justify the additional costs of a industry-specific system over a generic system.

Any system is a challenge to implement. Because of the increased complexity and the interfaces to other company and operations systems, accounting systems are more challenging than most. This can lead to delays in installing the systems. Worse, a bad installation can yield incorrect results down the line.

Better cost control. Accounting systems for manufacturers gives a much better view of costs due to the MRP integration, MES integration and job costing functions. Increased information lets managers understand and control costs better.

Increased business visibility. Because the systems keep information at the job-cost level, managers have a view of costs and profits of all operations and can judge profitability at each level.

Better compliance reporting. Since these systems interface with systems throughout the firm, it serves as a convenient library for all of the compliance reports. This can significantly reduce the cost of preparing compliance documents for government agencies.

Market Trends to Understand

You could consider these market trends as you research the market:

Use of cloud-based computing. The use of cloud-based systems is growing. NetSuite, for example, is only available as a subscription service. While the cost of running a network is the same as as an on-premises system, there are security and cost benefits to having their systems managed and replicated in the cloud.

Use of Web-based front ends. Whether it's on-premise or in the cloud, more and more systems are allowing the use of Web-based technologies like browsers to run the systems. This means that the computer power can be centralized and workstations only need to be able to run a browser.

Integration with other systems. As manufacturing software evolves, accounting systems must change in step. More information is generated by newer MES and MRP systems than previous versions. As such, these systems are constantly evolving to keep pace.

The Vendor Landscape

This type of buyer... Should evaluate these systems
Enterprise resource planning suite buyer SAP, Oracle, Sage, Microsoft Dynamics
Specialist buyer Microsoft Dynamics, NetSuite, Sage
Small manufacturer Intuitive, SYSPRO, Intuit, Geneva, ECi, Exact

Free Download:
How to Assess Manufacturing Software Vendors' Viability

Free Download:
Manufacturing Software Price Comparison Tool

 

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