Cost planning and control are critical to the success of all enterprises. Ramco Financials include components that enable rapid decision making through processes that aid planning, compiling, classifying, comparing, and reporting on enterprise-wide costs. The cost and quantities in each step of the value chain can be captured and accounted for using multiple hierarchical structures yeilding tremendous flexibility to the management accounting function.

Cost Budgeting allows for an array of budgets, budget types, and budget periods, using quantities or values, or both, for a given cost center. Budget values can vary based on the value of activity elements. Budgets can also be changed while maintaining multiple versions of the same budget numbers. Budgets can be generated automatically using past budgets, actual numbers, estimates, or consolidations along with rules for incrementing or decrementing.

Cost Allocation allows for the allocation of overhead and service costs incurred in single or multiple cost centers to other cost centers. Allocation logic can be different for actual or budget amounts. Period Closure allows allocation entries to be posted to the General Ledger and synchronized with the financial period closing.

Sophisticated Product Costing capabilities with cost roll-ups and standard item costs are also available for manufacturers.