Accounting services for manufacturing companies help put in order both the day-to-day documents and the finer points - where an error in product cost, inventory accounting or work in progress can distort the whole period's result.
Contact usOne of the most sensitive areas in manufacturing is determining the product cost. Unlike a trader, who usually records goods at the purchase-invoice price, a manufacturer has to build up the cost of each unit from raw materials, supplies and an allocated share of indirect production costs. So the question isn't only about how much a particular material cost, but also about how equipment depreciation, production-management salaries and workshop running costs are reasonably allocated, because an error in the allocation base distorts the product margin, the inventory value and the company's result alike.
At the balance-sheet date, in turn, particular attention has to be paid to work in progress. If part of the output is still at various stages of completion, it isn't enough to look only at its potential selling price, because you have to assess the materials, labour and production costs already accumulated in it. These costs stay in inventory until the output is finished and sold, so errors often hide precisely in work in progress, which can shift costs into the wrong period and change the profit figure.
Another important area is the inventory valuation method - FIFO or the weighted-average method. For a manufacturing company this choice isn't just a technical form of accounting, because the material costs put into production flow into the product cost, then into work in progress and into the value of finished goods. The method therefore has to be applied consistently, so that inventory movement, product cost and the period result remain comparable and well-founded even when material prices change.
Accounting prices are split into tiers based on your company's activity and workload. So from the start it's clear what drives the monthly fee and how much service you actually need.
Day-to-day bookkeeping rarely stands apart from tax, so your accounting data, tax returns and the consequences of transactions are looked at together. That helps spot, in good time, the situations where a document needs not just recording but a proper look at its impact on the company.
They say a good accountant is one you barely notice day to day, because the returns are filed, the documents are in order and the State Revenue Service (VID) stays quiet. That's exactly how we see our work - the accounting routine should be organised so it doesn't demand your constant attention.
We provide accounting and tax support both in everyday bookkeeping and in situations that call for weighing up a transaction, a State Revenue Service (VID) matter or an uncertainty from an earlier period. Not every question is complicated, of course - but it matters that, when one comes up, there's someone to ask.