Accounting transactions are at the core of MISys Manufacturing. MISys takes the transactions made by the production team and ensures the accounting transaction created from them are GAAP compliant. MISys integrates with QuickBooks, Sage 50 US and Canada, and Sage 300 ERP. Inventory valuation can be set up to use standard costing, average costing, FIFO (first in first out), and LIFO (last in first out). MISys doesn’t use its own GL accounts but rather it links to the accounting programs’ GL. It stores the entries and pushes these entries by posting a “period end.” The action posts the stored transactions to the accounting program’s GL. Purchase in foreign currency? No problem MISys handles that. Since purchasing is done in MISys, vendor invoices are also entered in MISys. This allows the AP team to use the system for quantity and price validation rather than going through stack of paper. Once the vendor invoice is posted in MISys, the payable is created automatically in the accounting program. No additional entries required. Check out the video for a look at how MISys handles the accounting of manufacturing. Get in touch if you have questions about anything you see in the video, or would like more information about MISys and/or Central Nervous Systems.
Accounting transactions are at the core of MISys Manufacturing. MISys takes the transactions made by the production team and ensures the accounting transaction created from them are GAAP compliant. MISys integrates with QuickBooks, Sage 50 US and Canada, and Sage 300 ERP. Inventory valuation can be set up to use standard costing, average costing, FIFO (first in first out), and LIFO (last in first out). MISys doesn’t use its own GL accounts but rather it links to the accounting programs’ GL. It stores the entries and pushes these entries by posting a “period end.” The action posts the stored transactions to the accounting program’s GL. Purchase in foreign currency? No problem MISys handles that. Since purchasing is done in MISys, vendor invoices are also entered in MISys. This allows the AP team to use the system for quantity and price validation rather than going through stack of paper. Once the vendor invoice is posted in MISys, the payable is created automatically in the accounting program. No additional entries required. Check out the video for a look at how MISys handles the accounting of manufacturing. Get in touch if you have questions about anything you see in the video, or would like more information about MISys and/or Central Nervous Systems.
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