Ever wish you could setup budgets for your Maximo Chart of Accounts and track up to the minute overall costs and spend against budget? We’ve setup just this sort of cost accounting tool using Excel integrated with Maximo and enhanced with flexible cost transaction classification logic.
Our tool supports two costing methods (both can be used):
- Accrual Based: Approved PO costs are included as committed dollars and actual PO cost adjustment transactions later credit back unused PO costs. Other costs such as storeroom issues and direct invoice payments accrue when created in Maximo.
- Actual Cost Based: Rather than counting approved POs as committed costs, PO Receipt transactions accrue direct purchase costs. Other costs such as storeroom issues and direct invoice payments accrue when created in Maximo.
Please contact us to learn more about setting up budgets and tracking costs to GL in Maximo.